PI, the native token of the Pi Network, remains the biggest upcomiung cryptocurrency, with no official release date set nearly four years after it was intially announced. but what is pi network and can we make a pi network price prediction? Let’s take a look at Pi price history, recent developments, and future predictions!

Pi (PANGO) Introduction to the CoinMarketCap

Before getting too deep into this article, it’s important to understand how cryptocurrencies work in general and so pi network. The most commonly used terms are blockchain technology and crypto trading platform.

Bitcoin is an electronic payment system that doesn’t rely on a central authority. It functions by exchanging digital currencies such as bitcoin, ether, USDC, or ethereum for real-world money and then sending these payments back to their original owners. Unlike centralized exchanges like Coinbase, Bitfinex, Binance, etc., where traders must deposit money into exchange wallets before they can buy any currency pair, bitcoin transactions are peer-to-peer without third parties involved. One could argue that Bitcoin and its derivatives have both similarities and differences. We will elaborate upon these similarities and differences between BTC, ETH, XRP, DOT, USDT and others in our next articles.

What is Cryptocurrency Exchange?

Cryptocurrency exchange refers to buying and selling of different types of coins/currency pairs within a single ecosystem that uses multiple methods to determine prices, including public blockchains, smart contracts, and algorithmic trading algorithms. In other words, it’s a decentralized way of purchasing, holding, and exchanging value for fiat money using computers instead of banks at one point. So you can say that cryptocurrency exchanges function quite similarly to regular financial institutions, except we don’t need credit cards, paper checks, or bank accounts to use them. You can easily buy, hold, sell, and trade cryptocurrencies without having to do anything but wait for your transaction details to reach the relevant address. All you have to do is enter them into an interface called the exchange account on the blockchain. Crypto exchanges are mostly unregulated by governments and there is no actual regulation for how much cryptocurrency a person can hold. This makes them attractive when compared to centralized crypto exchange platforms, since you don’t have to worry about regulations while transferring your funds from one wallet to another.

So let’s move onto what this entire thing means when it comes to investing in cryptocurrency. When you purchase cryptocurrencies such as BNB (BNB), LINK (LINK), ADA (ADA), TUSD (TUSD), MATIC (MATIC), DOOM (DOGE), and WAVES, you transfer your crypto holdings to a wallet, where you can safely put those tokens. Once you’ve transferred your crypto holdings to a wallet, you go ahead and start accumulating them. Now when everyone wants a piece of the pie, the first order of business is usually picking and choosing which assets to invest in. However, with crypto exchange platforms, users don’t have to decide which assets to choose. As per the demand of individual investors or businesses who want to diversify their portfolios, they can simply open an account and start shopping around. With so many options to consider, it gets more complicated and confusing when you compare it to traditional stock markets. Traditional stock markets are regulated by government agencies whereas most cryptocurrency companies aren’t regulated by regulators but rather are run by autonomous market makers who constantly update their algorithms to keep their clients happy. So let’s talk about some of the best cryptocurrency exchange platforms.

Here is a quick list of leading blockchain based exchanges, which serve as an alternative to typical trading platform:

Coinbase : Best overall crypto exchange platform

Binance : Fastest and cheapest way to buy and sell cryptos

CoinMarketCap : Most reliable Crypto trading platform.

Aave : Most popular crypto swapping platform

XChange : Highly regulated exchange service provider.

Bitstamp : Widely popular crypto swap service provider.

Bittrex : Leading global Blockchain exchange.

Trading Bitcoin and Ethereum

In fact, the two major projects behind bitcoin and tezos were initially launched as part of “The Lightning Network”. Litecoin is another similar term referring to Tezos’ second generation blockchain after bitcoin. At a glance, Litecoin looks almost identical to bitcoin. Both offer the same protocol as well as support for mining and staking rewards in addition to various other technical upgrades. Although these two are very similar, there are significant differences that make Bitcoin especially superior over tezos. Bitcoin offers greater security, faster speed, and higher transactions per unit (TPS). On the other hand, tezos uses fewer mathematical tricks in order to increase throughput. Another clear difference we mentioned earlier is that bitcoin has better low-cost processing power than tezos. Because of its high computational requirements, bitcoin mining costs a lot more than tezos. And the current LTC/TeZ mining rate is only approximately $6.5 million per hour while Litecoin is estimated as running at as high as $4 million per hour (this figure is far higher than bitcoin). Thus, the cost of hash rate per bitcoin is far higher than tezos. For example, if you want to generate 1MB/sec hash rate in 8 hours, you will end up paying $12.5 for every bitcoin generated, whereas Litecoin needs 4.5Mb per hour for an equivalent hash rate — that’s 5 times longer. Additionally, the Litecoin network currently generates less energy. Litecoin has been operating with only 40 transactions per second. Whereas bitcoin can process 600,000 to 800,000 on average each second. Compared to bitcoin, tezos could theoretically mine 10 times as much hash power for less effort. This is why Litecoin outperforms bitcoin, and also why it enjoys popularity among small miners. Since smaller units cannot compete with large ones, larger miners tend to opt for the largest altcoins, thus making it difficult for new entrants to gain traction. Therefore, small miners often prefer to store their funds in a hardware wallet rather than exchange it for bitcoin. Due to the lack of liquidity in the tezos chain, people with a higher hash rate tend to try and mine through the larger bitcoin network. Because of this reason, the total hash rate becomes lower. Some of us might be familiar with Fractional Ledger, an algorithm that tries to solve complex equations efficiently by breaking down the problem into many subproblems. If you consider all of this, it is safe to speculate that Litecoin may not have enough computing power to solve big problems for long. Hence even though Litecoin currently does pretty well, we still anticipate that in the near future, Litecoin may be overtaken by bitcoin sometime soon. Also, due to its comparatively low transaction fees, Litecoin seems to have a slight edge against most popular altcoins right now, although it is also highly dependent on the success of the TerraUSD project.

If we want to buy and use either Litecoin or Bitcoin, we need a Bitcoin Wallet. There are several trusted wallets for storing bitcoin and litecoin. Here’s a table of top 5 best bitcoin wallets you can download today:

Top Pick Exodus Trading App Wallet Name Rating Trust Score 9.99 Top Pick Gemini Account / Yield 7.99 Trust Score 9.92 Top Pick Luno Mobile App Wallet Name Rating Trust Score 9.95 Top Pick Voyager Platform Wallet Name Rating Trust Score 8.90 Top Picks Blockfi Wallet Name Rating Trust Score 9.90 Top Pick OpenSea Wallet Name Rating Trust Score 9.99 Top Pick Akshus Wallet Overview

When buying bitcoins, they usually go out first to acquire cheap supply through mining. To ensure the sustainability of the Bitcoin network, they are held in cold storage, meaning that they never lose value. They must therefore be stored in secure offline environments such as hot offices where they remain stable. To prevent double spending, it is advisable to keep BTC wallets locked away from unauthorized access, unlike regular online wallets. Since the majority of the world’s population uses mobile devices to manage their finances, mobile phone providers should allow users to pay bills through mobile applications. So to avoid losing coins to phishing scams, always check the website yourself, ensure your identity and password is correct, and use 2FA on all online wallets. Aside from setting up these advanced services, some of the more basic things to keep in mind is: *Always maintain strong passwords, change them regularly, and do not reuse old password patterns. These tips will help you stay safer in case anything happens to your crypto.

Conclusion

So how does mining bitcoin get paid? Mining bitcoin is pretty straightforward process compared to Ethereum. Like other Proof-of-Stake systems, one miner earns reward for validating blocks added to the main blockchain. After verifying the new blocks, the node (block producer) receives a fixed amount of cryptocurrency in return for validating blocks and confirming that they were built correctly. If miners fail to validate blocks correctly all along, they are excluded from receiving the earned revenue. While mining bitcoin requires little electricity compared to Ethereum, you still spend lots of time and energy just to verify and confirm transactions and proof of stake. So it would take up significantly more energy to mine bitcoin compared to Ethereum compared to Ethereum. Moreover, because it’s hard to know how much money you’ll earn, it’s important to be aware that you won’t receive anything every day and instead, you will build up a cash reserve only when miners start doing something special.

With regards to cashing out all