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Update Bybit's $1.4 Billion ETH Hack card to explain format and add n…
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…ew Pi Network card with comprehensive details and references
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boundless-forest committed Feb 27, 2025
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2 changes: 1 addition & 1 deletion cards/ByBit's $1.4 Billon ETH Hack.md
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#show-card
#explain-card

# Bybit's $1.4 Billion ETH Hack

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44 changes: 44 additions & 0 deletions cards/Pi Network.md
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#show-card

## Introduction

[Pi Network](https://minepi.com/blog/) is a digital currency project aimed at making cryptocurrency mining accessible to everyday users through mobile phones. Founded in 2018 by Stanford graduates, the project seeks to distribute cryptocurrency fairly and build a decentralized marketplace and ecosystem for its users.

## Service Provided

Pi Network provides a mobile-first cryptocurrency mining experience that consumes minimal battery power and processing resources. Unlike traditional cryptocurrencies that require significant computing power to mine, Pi can be mined through a mobile app by tapping a button once every 24 hours. This approach makes cryptocurrency accessible to the general public without specialized equipment or technical knowledge.

## Technical Details

The Pi Network operates on a consensus algorithm called the Stellar Consensus Protocol (SCP), which is more energy-efficient than traditional Proof of Work systems. Pi uses a security circle concept where users build trust networks that contribute to the overall security of the blockchain.
## Team

The Pi Network was founded by a team of Stanford graduates:
- Dr. Nicolas Kokkalis - Head of Technology
- Dr. Chengdiao Fan - Head of Product
- Vincent McPhillip - Head of Community

## Roadmap

Pi Network follows a three-phase development roadmap:

- Phase 1 (Beta): Launched in March 2019, allowing users to mine Pi on mobile devices
- Phase 2 (Testnet): Launched in March 2020, testing the Pi blockchain
- Phase 3 (Mainnet): Transition to a fully decentralized blockchain with KYC verification requirements and open ecosystem development

## Latest Updates

- 2022 Q4: Mainnet launched in closed network mode with KYC verification requirements
- 2022 Q2: Introduction of Pi Wallet and enhanced KYC verification system
- 2021 Q4: Preparation for Mainnet launch with mass verification system
- 2021 Q3: Expanded ecosystem applications and developer tools
- 2021 Q1: Launched Pi Brainstorm community ideation platform
- 2020 Q1: Testnet launched, allowing initial blockchain operations
- 2019 Q1: Beta version launched, allowing mobile mining

## References

- [Pi Network Official Blog](https://minepi.com/blog/)
- [The Pi Network & Pi Token (YouTube)](https://youtu.be/wHjuX20y82c?si=VBD0PFi8H2JuFhj0)
- [Pi Network Official Website](https://minepi.com)

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