Several Pioneers often have problems understanding some of the terms and lingo used in the Pi Ecosystem. In the Pi Dictionary article, we defined majority of these terms we explain where needed.
These are miners, members or users on the Pi network that mine tokens via their mobile app.
They have to prove that they aren’t robots by physically tapping the lightning button on the app every 24 hours.
Pioneers also contribute significantly to the network in other ways, like forming nodes, security circles, KYC validations, etc.
Pi SDK allows developers to build applications that integrate with Pi platform and token.
The Pi Software Development Kit (Pi SDK) is a programming library that provides access to the network’s servers.
The Pi SDK uses a hierarchical, object-oriented approach to provide both read and write access to properties of the server.
Developers on the Pi Network use this set of software programs and tools to create apps for the Pi ecosystem.
The Pi Browser allows Pioneers people to browse, transact and interact with decentralized apps integrated with blockchain tech.
The browser comes with inbuilt wallet features, and it’s developed and maintained by the Pi Core Team (PCT).
Presently, the browser has 7 major features: chat, wallet, brainstorm, mine, blockchain information, developers portal, and KYC.
“Know Your Customer” or KYC is a process to identify and authenticate the identity of Pioneers.
It’s done to ensure ascertain the true identity of each user on the network to avoid the theft of creating multiple accounts to mine Pi.
A mainnet is the final and most important stage of the Pi network’s project.
At this point, the firewall that restricts the enclosed mainnet is lifted, and Pioneers can freely transact their tokens with other cryptos and for Fiat on public exchanges.
A Testnet is Pi network’s Minimum Viable Product (MVP) which is used to test the usability and viability of the network’s token and blockchain.
As a result, the PCT were able to try new ideas without breaking or disturbing the product’s core features.
In other words, the testnet was the working prototype for the mainnet project.
Mining on the Pi network occurs when Pioneers use their mobile device to create new Pi tokens.
It is similar to mining raw materials from the earth and mining Bitcoin. But this time, users do it in an energy-efficient way on their mobile phones.
A security circle on the Pi network circle is a group of 3 – 5 trusted persons created by a Pioneer.
They protect the token by building a global trust graph which prevents bad actors from carrying out fake transactions.
This is the link shared with prospective members to join the Pi ecosystem.
Before you can join, you need a referral code from an already mining Pioneer on the network.
The white paper spells out the purpose of network, the goal of the token’s creation, project timeline, roadmap, use cases and more.
The major information about the token’s project can be found on the Pi Whitepaper.
This special day is held on the 14th of March each year to celebrate the creation of network.
Also, the Core Team often carries out special updates on this day.
Nodes play the fourth role in the ecosystem. As a matter of fact, Nodes run on desktops and laptops instead of regular mobile phones.
Just like other blockchains, Pi Nodes are responsible for validating transactions on the blockchain, and they help resolve problems by having nodes form a consensus which maintains the distributed currency.
This is a team comprising domain experts to perform multifaceted activities.
The Pi Core Team are alumni of Stanford University; The head of technology is Dr. Nicolas Kokkalis, the Head of Product is Dr. Chengdiao Fan, and Vincent McPhillip is the Head of Community.
To become a contributor on the Pi network, you must add 3 – 5 Pioneers you trust to your security circle.
Each connection boosts your mining rate by 0.02 π per hour. The maximum rate you will receive as a contributor is 0.1 π per hour.
Stellar Consensus Protocol
The Stellar Consensus Protocol (SCP) shows a way to reach consensus without depending on a closed system to precisely record financial transactions.
Pi uses a consensus algorithms based on the Stellar Consensus Protocol or SCP. In addition, it uses an algorithm called Federated Byzantine Agreement (FBA).
Also, algorithms like this don’t waste energy, but they must exchange several network messages among nodes to reach a “consensus” on the next block.
You become an ambassador when new members join your earning team using your invitation code when they sign up on the Pi Network.
Each friend you invite boosts your earnings by 25 percent. For instance, if you invite 4 friends, your total mining rate will double.
Pioneers receive mining rewards through network contributions like app usage, lockup rewards and node operation.
This peer-to-peer network enables users to earn rewards by partaking in its consensus process through the easy tap of a button.
Pi barter mall
This is an e-commerce marketplace for sellers and buyers of various physical and virtual goods and users pay with the token.
This is a private, simple and secure messenger Pioneers use to communicate on the Pi network.
This is an app on the Pi browser that enables you to store, access and transact your crypto in a non-custodial wallet.
Pi Brainstorming app
This is another brainchild of the PCT where developers pitch their app ideas and members on the network get to vote on the app that should see the light of day.
This is a system that records transactions made of cryptocurrency which are maintained across various computers all connected via a peer-to-peer network.
Note, the Pi network also records all its transactions on a blockchain
Admins project role
Admins approve team members and edit the project description for ecosystem app proposals. However, for business apps, the project leaders assume the role of admins.
Business project role
The role is to contribute to the business aspect of the project, such as user engagement and support, marketing, operations, communication, etc.
Developers project role
These are users that contribute technical skills to the creation of a project on the network.
Pi hackathon is a design event that programmers and other users that are into software development, including interface designers, graphic designers, product managers, domain experts etc collaborate on software projects beneficial to the network.
KYC validators verify other members of the network that have submitted their documents during their KYC process. This process is helps ascertain the identity of miners with accounts on the network to reduce the incidence of fraud.
Lastly, each validator earn 1π (or less, depending on the arrangement by the PCT) after validating other users.
If you like this article, don’t forget to share it on social media with other interested Pioneers. Also, it’s important that you like our other social media pages to help us reach more people. You can also check out other articles on our website like How to complete your mainnet checklist.
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