Pi Network is a mobile app that allows users to mine Pi, a new cryptocurrency that aims to rival Bitcoin. The Pi Network was founded by Stanford University academics Nicolas Kokkalis and Chengdiao Fan in 2018. Unlike other cryptocurrencies such as Bitcoin, which use computationally costly Proof of Work (PoW) algorithms, Pi Network employs a revolutionary consensus technique known as “Proof of Stake” (PoS). Users of the Pi Network app on their mobile devices can mine Pi coins by pushing a button once every 24 hours to demonstrate their participation in the network. The Pi cryptocurrency claims to provide users with all the advantages of Bitcoin while avoiding its pitfalls. However, as of April 6, 2023, Pi has no value and cannot be sold on any exchange. It does not yet exist on a live blockchain, and it has no wallet. Pi is stored in the app, and users cannot withdraw, sell, or exchange it for other cryptocurrencies. According to the Pi Network website, users will be able to do all that in the third phase of its roadmap when the mainnet launches, although theres no estimated launch date.