Bitcoin vs Pi Network – Which One Will Rule the Next Decade?

 

Bitcoin vs Pi Network – Which One Will Rule the Next Decade?

cryptocurrencies that constantly changes at a frantic pace. It was started in 2009 and led the decentralized digital currency revolution. However, as newer and more accessible projects such as Pi Network pop up, a significant change in the crypto world can be observed in the nearest future. The question though remains whether it will be possible to compete with the dominance of bitcoin in the next decade using Pi Network.

Bitcoin: the digital Gold

Bitcoin (BTC) is called the digital gold more or less because of a reason. It has a capped supply of 21 million coins, it is broadly accepted in most parts of the world and leading financial institutions, governments, and corporations have already embraced it. Its consensus mechanism is a proof-of-work (PoW), which is safe but energy-demanding.

Bitcoin has been confirmed over the years as a store of wealth especially in countries with inflation or currency distress. Nevertheless, it has been more of a downer due to its transaction cost that is high, speed that is slow, and other problems with scalability, which has invited new competitors.

Pi Network: Revolutionary Mining on Mobile

Pi Network, designed in 2019 by graduates of Stanford, is trying to enable mobile phone mining cryptocurrency to all people. As opposed to Bitcoin, mining requirements, where costly mining equipment is required and a ton of electricity, with Pi Network, users can mine with the app by registering into it each day.

Pi offers one-of-a-kind Stellar-derived consensus mechanism, characterized by the energy-efficient system and using mobile devices. Pi is not even publicly listed yet, though being in its testing phase, its real value can be speculative yet.

Its most distinctive feature is its accessibility there are already more than 50 million users who make Pi Network a community-oriented ecosystem but not an ecosystem that is aimed at institutional investors.

Comparison of Technology and Ecosystem

Characteristic Bitcoin Pi Network

Introductory Year 2009 2019

PoW (Proof of Work) Stellar Consensus Algorithm

Supplies Limit 21 Million Not fixed (not determined yet)

Accessibility Low (setup to mine) High (pocket mining)

Real Uses Cases Store of Value, Payments In development