In this article, we try to determine if Pi’s crypto is called Pi coin or Pi token. Also, we try to differentiate between both and how to ensure you’re getting the right thing.
If you’re new to the Pi network or you’re an oldie, you must have come across different designations for Pi network’s crypto.
Almost everywhere you turn to, especially on social media, you’ll see several posts about Pi Coin
The surprising part is that it’s almost everywhere – I mean on blogs and all social media platforms.
It really gets confusing when you also see some quarters calling it Pi token
So is it Pi Coin or Pi token?
Or are they the same thing?
Without further ado, let’s find out
What is Pi Coin?
In truth, there’s a crypto called Pi coin, but it has no affiliation with the Pi network.
Pi coin bears a similar name to Pi network’s crypto [Pi], but apart from the similarities in name, they have nothing in common.
Currently, Pi coin is listed on Coinmarket cap, and it’s currently trading at $0.007077.
As you know, Pi network’s crypto has not lifted its mainnet’s firewall. Also, from what we’ve seen so far, the original Pi token is not listed on any exchange yet.
Although tokens and coins are often used interchangeably, they differ significantly.
Yes, both are cryptocurrencies, but the major difference is that coins have their own blockchain, and tokens do not.
Examples of major coins you know are Ethereum, Waves, Tron, Polygon etc.
Is it called Pi token then?
Yes, Pi network’s crypto is Pi token and not Pi coin.
For those that don’t know, a token is built on an existing blockchain, just like Pi token.
Pi network is built on an existing blockchain – the Stellar blockchain – which uses the Stellar consensus protocol as its consensus algorithm.
Tokens aren’t the native crypto of a blockchain, they’re basically a subset like Cake on BSC chain, USDT on Ethereum, Shiba Inu on Ethereum etc.
Surprisingly, a lot of people confuse Pi token for Pi Coin, and you can see the reason why.
But you have to be careful not to confuse the two or fall prey to scams.
In fact, if you’ve been following the happenings on the Pi network, you’d realize the word “Pi Coin” has never been used.
By reading the whitepaper and the Pi acknowledgment form, the PCT clearly states that you’d be receiving Pi tokens and not Pi Coins.
Conclusion
In truth, there’s a lot of information out there, and it’s hard to decipher what is factual and what is false. As you must have seen, most people call Pi network’s crypto Pi coin and they can easily mistake one for the other.
Most importantly, always carry out your own research and due diligence. And whenever you’re in doubt, consult the Pi white paper or reach out to the Pi community on the app.
Editors note
If you are new to the Pi network, it is important to follow the appropriate channels to get the right news. To know more about the network, you can follow @pi_bible across all social media platforms. Also, you can learn about what the Pi network is building here.