XRP surged to 3 dollars using this trap technology, can Pi Network replicate the miracle?

Since its launch, Pi Network (PI) has attracted tens of millions of users worldwide with its low threshold for "mobile mining" and massive community effects. However, there has been ongoing controversy regarding its blockchain technology foundation and issuance mechanism. Some question whether its Federated Byzantine Agreement (FBA) + Stellar Consensus Protocol (SCP) model qualifies as a true blockchain, while others believe its application potential is even clearer than Ripple (XRP) and Stellar (XLM). So, what exactly are Pi's technology and issuance model? Can it gain market recognition after the Mainnet is launched?

The Technical Core of Pi Network: FBA + SCP Consensus Mechanism

The Federated Byzantine Agreement used by Pi Network is not original; XRP and XLM also use a similar trust-based consensus mechanism.

Stellar (XLM)

· Using SCP (Stellar Consensus Protocol), each node can choose its own trusted set of nodes (Quorum Slice)

· Fast transaction confirmation speed (3-5 seconds), low fees

· Mainly used for cross-border payments and banking cooperation

Ripple (XRP)

· Use RPCA (Ripple Protocol Consensus Algorithm) to achieve consensus through trusted validation nodes.

· The transaction speed is approximately 3-4 seconds, with a total issuance of 100 billion pre-mined coins.

· Primarily aimed at financial institutions and cross-border settlement

Pi and Its Similarities:

· Do not rely on PoW (Proof of Work) Mining

· Quickly reach Consensus through a trusted node network

· The transaction speed is much faster than Bitcoin.

Differentiation of Pi:

· Introduced the concepts of "mobile mining" and "trust circle", reducing participation barriers.

· The allocation of tokens is not a one-time pre-mining, but is gradually released through user behavior.

· Currently still in the closed testing phase, not yet fully open to the Mainnet.

Pi's issuance mechanism: mobile Mining + social trust circle

The biggest feature of Pi coin is the gradual release through mobile mining, rather than a one-time pre-mining.

Mobile Mining: Users can "mine" by opening the app and clicking daily, which actually involves participating in network consensus and receiving allocations.

Trust Circle Mechanism: Users can invite and verify each other to form a social trust network, enhancing network security.

Gradual reduction in production: As the number of global users increases, the Mining rate will gradually decline, mimicking the scarcity design of Bitcoin.

The advantage of this model is the ability to quickly expand the user base, but it also faces the challenge that value support must rely on the application ecosystem.

Key to Success and Challenges

Key to Success:

True decentralization: open up more nodes to participate, reducing the control of the core team.

Application ecology landing: Launch of DApps, payments, DeFi, NFT and other practical application scenarios.

Market circulation and trading demand: The value of Pi coin needs to come from real transactions and usage, rather than merely hoarding coins.

Main Challenges:

The current number of nodes is limited and is still semi-decentralized.

The ecological application is not yet mature, and whether the Mainnet can attract users after its launch is the key.

If there is a lack of practical use, the value of PI may decline rapidly after it opens for trading.

Comparison Table of Pi, XRP, and XLM

Conclusion: The future of Pi depends on "decentralization + ecological landing"

The FBA+SCP technology of Pi Network itself is not new, but it lowers the participation threshold through mobile mining and social trust circles, allowing tens of millions of people worldwide to easily access Blockchain.

However, technology is just the foundation; what truly determines the success or failure of Pi is whether it can quickly establish an application ecosystem and achieve decentralization after the Mainnet is opened.

If successful, Pi has the potential to become one of the public chains with the largest number of users worldwide; conversely, if it fails, it may become another project that is "only a memory of mining."