“It is necessary to empower real people.”

A team of researchers from Stanford University has discovered a unique method for mining cryptocurrencies that could have a massive impact on perceptions of the industry.

According to her WebsiteThe Pi Network is designed in part to be the “next generation blockchain-integrated web” and make the cryptocurrency mining process significantly less energy-intensive.

Cryptocurrency mining is a controversial practice in part because it remains largely unregulated. Cryptocurrency-related mining uses huge amounts of energy that often comes from dirty energy sources such as gas and coal as well as huge amounts of water or cooling resources to help keep their server banks cool and operational.

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Proof-of-work consensus, which Bitcoin uses, is the most power-hungry due to how complex the verification process is, and proof-of-stake is at the other end of the spectrum, as the Ethereum exchange recently reported that its switch to PoS resulted in power savings of over 99%.

Pi Network hopes to be different. It uses its own star consensus protocol through a mobile app, relying on the relatively small computing power of mobile phones and tablets to mine cryptocurrencies en masse. It promotes itself as a more fair and distributed crypto network, allowing you to mine pi tokens for free from your phone.

Bitcoin and other cryptocurrencies have a reputation as a massive drain on resources as well as vehicles through which shady characters can conduct illegal business. A recent report revealed numerous cryptocurrency mining operations in “gray zones” around Russian territory using massive amounts of dirty energy and diverting money to illicit activities and war profiteering. Illegal cryptocurrency mining has been accused of causing rolling power outages in Iran, and Iowa County recently floated discussions about building a new mining facility due to concerns about pollution and noise.

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Many Bitcoin mining organizations have moved to renewable energy and touted the benefits of Bitcoin and renewable energy helping to complement each other’s investments, although proof-of-work will always be energy-intensive, with proponents arguing that the energy needs are justified.”The finest“Verification and security.

The Pi Network eliminates many environmental concerns, using less power and generating no noise. There are still security concerns as the app scales, but the company is optimistic they can be addressed.

“In order to ensure fairness in Pi mining, secure the Pi blockchain, maintain integrity in the Pi ecosystem, and ultimately create and protect community-driven governance, it is essential to empower real people around the world and disrupt malicious actors, bots, malware, or riders.” Freelancers of the company Website He says.

Overall, the Pi Network is a new approach to solving a huge problem that has faced the cryptocurrency industry since its inception, and any cryptocurrency focused on reducing energy demand is worth watching as a potential game-changer.

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