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About Me

Found 5 results

  1. Pi Network is now live and is on the enclosed network. At this point, it is allowed to do peer-to-peer and peer-to-app transfers within the enclosed network. We want to hear from the community, what would be the FAIR VALUE of Pi that is agreeable between business provider and buyer. Please vote for Fair Value that is a win-win for business providers and buyers. Kindly provide a brief explanation of your chosen value. We appreciate your honest and fair assessment. Thank you. pexels-mikhail-nilov-7989473.mp4
  2. We always ask opinion of Pioneers the value of Pi. It turns out that the majority of Pioneers believes that the value should be high, 100 to 1000USD. We cannot blame those Pioneers for believing so and we respect their opinion, as we really do not know what would really be its initial value. This time, we would like to ask those PIONEERS WHO INTENDS TO SET UP A BUSINESS AND ACCEPTS PI as a payment. What is the fair value of Pi in business standpoint and why? Kindly defend your answer. Thank you.
  3. Consensus value is the agreement of people for Pi price that we'll be use to purchasing goods and services. Exchange value is the market price for exchanges like Binance and Kucoin. For me i prefer the consensus value because we can use it to pay for our everyday needs(foods, clothing and maybe soon for shelter). Hope it helps, Pioneers
  4. In the crypto realm, all cryptocurrency balances belonging to users are recorded in a database, namely the blockchain. All the data will then be duplicated in a device called a node. Nodes themselves are the end points of a communication between networks, such as computers. In this case, the node in question is the user computer of the blockchain network. Later, when a new transaction is added to the blockchain, the blockchain user will validate the activity through the node in question. Meanwhile, users who wish to become validators of blockchain transactions are required to provide a stake. Stake itself is the value that users must "stake" as a guarantee that they will not act dishonestly in recording transactions. If caught cheating, then they will lose the stake they put. However, if they managed to carry out their duties well, then they would receive a reward. The rewards sometimes consist of the blockchain protocol's native cryptocurrency derived from fees paid by other users.
  5. In short, a consensus algorithm is a mechanism used by computers and blockchain systems to approve the addition of new data in it see the illustration crypto fans If likened to a ledger, then the blockchain is sheets of transactions that are stacked on top of each other. Well, one transaction (block) will be related to other transactions so as to form a chain of transactions. This ledger is accessible and visible to all, but very difficult to edit. Blockchain users cannot edit existing transactions, but they can add a new block of transactions. However, the new transaction block can only be added if the consensus algorithm approves the addition of the transaction. So, why is this mechanism needed in a blockchain system? Well, as we know, there is no single authority that oversees the activities in the crypto world. The entire system is made in a decentralized manner so that decision making, verification, and authentication on the blockchain must involve all users in it. However, involving hundreds of thousands, even millions of users, also requires an efficient, fair, reliable and secure system so that all parties involved can have a "voice". Well, that's why a consensus algorithm is needed in a blockchain system. In addition, the consensus algorithm is also the single source of truth regarding whether a transaction made by a user is a real transaction. This is to prevent users from recording transactions twice, or often called double spending.
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