Is Pi Coin Legit or scam ⚠?? Pi Network open mainnet 2025?

 Few cryptocurrency initiatives have generated as much discussion as Pi Network.Discover the latest update on Pi Network's Open Mainnet 2025. Learn how Pi works, its legitimacy, and whether it’s the future of crypto mining or just a scam." Some see it as a daring attempt at adopting cryptocurrency first on mobile devices—a gateway to a decentralized future powered by apps.  Others see it as a deceptively clever pyramid scheme based on delayed delivery, ambiguous promises, and social referrals.

Is Pi Coin Legit or Scam?

📖 Author Introduction

Author: San Semzo| Co-Founder of Trendonomic | Digital Trender | Content Writer | Blogger | Novelist

🗓️ Published on: June 22, 2025
✨ Curated by San Semzo — I hope you enjoy reading this blog post and find it valuable.

Pi Network might be one of the most divisive topics in an area characterized by extremes.  It boasts a live Open Mainnet, more than 60 million users, and plans to create a new digital economy.

  Nonetheless, detractors still raise concerns about its centralized management, dearth of token liquidity, and dependence on a trust graph model that appears to go against the core principles of blockchain architecture.

What exactly is Pi, then?  A silent revolution in crypto infrastructure that prioritizes users?  An intricate plan that uses social interaction as its currency?  Or something more ambiguous—trapped in the middle of opportunism and innovation?

This article examines Pi Network objectively in order to evaluate its investment risks, security model, and legitimacy.

What Pi Coin is and how its network operates?

Its background and assertions regarding decentralization
User protections and security features
Comments from the Reddit, Trustpilot, and other communities
Plans for its ecosystem, outlook for the future, and governance roadmap
You'll have the background knowledge necessary to determine whether Pi is a worthwhile experiment or merely another endeavor driven more by hype than substance by the end.

Key takeaways

Pi’s legitimacy is debated:
Although it's not a complete scam, the network is still far from being completely decentralized or unreliable.
Though its decentralization is hotly debated, Pi Network asserts that it is an inclusive, mobile-first blockchain with over 60 million users.
Its social mining model raises issues similar to multilevel marketing since it relies on referrals and "Security Circles" rather than stake or proof of work.
Despite the Open Mainnet's 2025 launch, Pi Coin's practicality is limited by its lack of exchange listings and external liquidity.
Although reports indicate that the core team still maintains control over validator nodes, the project's consensus is based on a modified Stellar protocol.

Access to mined Pi requires KYC, and the centralized storage of user data raises privacy issues.
Despite ecosystem funding and Chainlink integration, critics point to slow DApp rollout, ambiguous roadmaps, and ad-heavy app designs.

What are the Pi Network and Pi Coin?

A Layer 1 blockchain designed for mobile users is called Pi Network.  By providing a low-barrier, lightweight mining model that operates solely on smartphones—no sophisticated hardware or significant energy consumption is needed—it places itself within the expanding field of mobile-first cryptocurrency platforms.

The native currency of the network, Pi Coin (PI), is at the heart of this ecosystem.  Contributions to the network's expansion, security, and app usage are how users earn it.  Supporting a decentralized economy driven by regular people rather than expert miners or early whales is Pi's long-term objective. 

Mining on Mobile Devices and "Social Security"

Pi Network's mining methodology is its most notable aspect.  Pi developed a social mining model in place of Bitcoin's energy-intensive computations.  To mine Pi, users only need to secure their "Security Circle," a group of reliable people who help keep the network safe, and tap a button once every 24 hours.

Security Circle for Pi Networks

A Trust Framework Called Security Circles Protects the Pi Network.
Joining the network also entails creating Referral Teams and inviting others to join.  This method maintains user engagement without causing technical issues and gamifies network expansion.  In order to promote widespread, worldwide involvement, even in places with limited hardware or reliable electricity, the mining mechanism is purposefully light.

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Vision of the Ecosystem and Network Purpose

The stated goal of Pi Network is to establish a crypto-native online economy that is inclusive and app-driven.  In addition to mining, users can also earn Pi by interacting with Pi Browser apps.

The network imagines a system in which:

 Apps are created directly on the Pi blockchain; Users exchange Pi Coins with these apps; and Developers receive payments according to usage.

Value creation is driven by participation rather than capital.
From DApp usage incentives to mining rewards, everything is made to keep Pi moving within its own ecosystem rather than being dumped for outside value.  Although it restricts Pi's external liquidity (as we'll examine later), this internal focus is a crucial differentiator.

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How Pi Coin Is Mined

In its early stages, Pi mining was simple and mostly symbolic.  Users earned Pi based on:
A base mining rate is determined by how early they joined.
A Security Circle bonus for confirming trusted users
A Referral Team bonus for inviting others
The global mining rate halved at network milestones (e.g., every time the user count crossed 10 million), creating scarcity over time.
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Phase of the Mainnet

Mining became more dynamic and contribution-based after Pi relocated to the Mainnet.  

A wider variety of activities are rewarded by the new formula:/How you can earn from pi network:- 

Extra Pi for willingly locking your tokens after KYC is the Lockup Reward (L).  Larger and longer lockups yield higher earnings.
For users with desktop Pi Nodes, there is a Node Reward (N).  The reward depends on open ports, CPU power, and uptime.

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App Usage Reward (A):

 Determined by the amount of time spent in the Pi Browser utilizing DApps.

Referral Bonus (E): 

Still available, but now dependent on the level of participation from your invitees.

Future Contribution (X): 

A placeholder for incentives such as infrastructure provision or app development.

Crucially, in order to get rewards, you have to be actively mining.  Your base rate goes to zero while you're not mining and logged in.
Now, a fixed annual supply cap and network activity as a whole determine the real-time adjustment of the systemwide mining rate (B).  This rewards the most active users while controlling inflation.

Token Structure and Consensus

A modified version of the Stellar Consensus Protocol (SCP) is used by Pi Network.  Federated trust is used by SCP, where users verify transactions via their trusted networks.  Although it also raises issues regarding decentralization (discussed in the following section), this enables quick and energy-efficient consensus.
Pi Network emphasizes participation over speculation, positioning itself as a more inclusive alternative to conventional crypto networks.  However, as we'll evaluate in the following section, legitimacy is not ensured by accessibility alone.

History and Evolution of the Pi Network

Pi Network was launched on March 14, 2019 (Pi Day) by a group of Stanford graduates—Dr.  Nicolas Kokkalis, Dr.  Chengdiao Fan, and Vincent McPhillip.  The idea was straightforward: make cryptocurrency mining possible on smartphones, without relying on specialized hardware or high electricity costs.

Pi Network Founders

From the beginning, the team pitched Pi as a mobile-first blockchain focused on accessibility and long-term ecosystem development.  Its native asset, Pi Coin, would serve as the backbone for user incentives and application activity.

Timeline and Significant Events 2019: Testnet and Mobile App Launch

Pi's initial rollout was centered on improving the tap-to-mine mechanism and acquiring new users.  By launching the application and verifying activity, users could mine coins once every 24 hours.  In the early stages, participation was invite-only.

2020: Security Circles Are Introduced

Pi created Security Circles to strengthen decentralization and trust.  These were associations of reliable contacts who contributed to the development of the consensus model for the network.

2021: The Pi Developer Ecosystem and Browser

With the launch of the Pi Browser, early infrastructure for decentralized apps (DApps) replaced mining-only participation.  This made it possible for programmers to create basic web-based tools in the Pi environment.

Enclosed Mainnet Launches in Late 2021

Pi switched to an enclosed mainnet, which prevented external connectivity while permitting wallet transfers within the network.  Users were able to migrate tokens, finish KYC verification, and take part in wallet lockups during this time.

KYC Rollout and Network Scaling in 2022–2024

With millions of users being onboarded and getting ready for the token migration, the network extended its KYC program.  Pi concentrated on ecosystem funding, community tools, and app testing during this period.To verify user identities (if you are interested in boosting your profile for KYC and job opportunities check out these Best free online courses with certificates.

Launch of the Open Mainnet in February 2025

External interfaces were able to access Pi's Mainnet.  The change made it possible to integrate with external apps and services more widely, even though full trading and withdrawals are still restricted.

Development of Communities and Ecosystems

According to a Bitget article, the Pi community's active person base has decreased from its peak to just over 35 million. Far fewer customers, in line with a Reddit user, personal more than one thousand Pi cash, which might be worth $1,two hundred in May 2025 alternate costs. To sell app development and comments loops, the task has held hackathons, developer presents, and AMAs.
In locations like Asia, Africa, and Latin America, where mobile-native gear are regularly the most effective possible access point into crypto, activity is in particular focused. Pi's user engagement remains one of the network's maximum dependable drivers, even though the DApp ecosystem is still in its infancy.

An evaluation of legitimacy and trustworthiness

Reports factor to a exclusive reality, notwithstanding Pi Network's encouragement for users to run whole nodes on computers so as to participate in consensus:
According to a January 2025 CNN report, the decentralized nature of blockchain generation is undermined via the Pi Network group's significant operation of all mainnet nodes.
KYC Regulations and Privacy Issues
In order for users to get entry to their mined Pi tokens, Pi Network requires Know Your Customer (KYC) verification. 

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This requirement raises a number of issues:

Environment with Permission: 

By organising a permissioned gadget, obligatory KYC offers the principal authority the ability to censor or restriction person get right of entry to.

Data privateness:

 The storage of KYC records has drawn grievance. According to a Cointrust report, user information is kept on centralized servers, which presents protection and misuses

Listings for Token Utility and Exchanges
At the moment, the Pi token's usefulness is restricted:

Absence of Exchange Listings:

 Pi's liquidity and practicality are limited because it is not listed on any significant cryptocurrency exchanges.
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Internal Ecosystem: 

The token's ability to be used as a medium of exchange in larger markets is limited because it is only used within the Pi Network's ecosystem.

Referral System: 

Due to its heavy reliance on user referrals, the incentive structure has been compared to multi-level marketing (MLM) schemes, which are frequently decried for having pyramid-like structures.

Advertisements within apps: 

Many in-app advertisements cast doubt on the project's value proposition and revenue model even though they aren't made using conventional methods.

Views of Industry Experts 

Leading personalities in the cryptocurrency space have voiced doubts about Pi Network: Bybit CEO Ben Zhou has openly questioned the project's validity.

The founder of CyberCapital, Justin Bons, has called Pi Network a scam due to its dubious business model and centralized control.

Features of Pi Coin's Security

Pi Network employs a multi-layered security strategy that combines a trust-based consensus mechanism, mobile wallet safeguards, and cryptographic standards. But a large portion of its infrastructure is still centralized, which continues to raise questions about systemic risk and user autonomy.

Infrastructure for Blockchain Security

The Stellar Consensus Protocol (SCP), a variation of the Federated Byzantine Agreement (FBA), was used to create the unique blockchain that powers Pi Network. Security Circles, which are tiny trust groups that make up a global trust graph, are used to reach consensus rather than the more conventional PoW or PoS models. This model is intended to stop Sybil attacks and make mining accessible on mobile devices with minimal resource requirements.
SHA3-512 and AES-256 encryption for hashing and secure communication, a layered structure with support for transactions and smart contracts (added in February 2025), DAG-based trust mapping to increase scalability, and public/private key cryptography to authenticate transactions using elliptic curve signatures are all components of the blockchain architecture.

Despite Pi's claims to support thousands of community-run nodes, the decentralization claim is undermined by claims that the Pi Core Team runs all mainnet validators, implying that consensus is currently fully permissioned.

Wallet and User SecurityUser Security

Supported by secure enclaves such as Apple's TEE, the Pi digital wallet is mobile-native and stores private keys locally on the user's device.  Transaction signing takes place locally prior to broadcasting, and users use encrypted recovery phrases to backup their wallets.

Among the security features are rate limitation, session management on cloud infrastructure (apparently hosted by Amazon), secure HTTPS channels and DNSSEC protections, and multi-factor authentication (MFA) via SMS, email, or biometrics.
To access Mainnet tokens, which link wallets to validated identities, KYC is necessary.  User identity information is kept on centralized servers, but private keys are still device-based.  Concern was raised by earlier reports of unencrypted KYC transmission in 2021, and despite assurances of improvements, server-side transparency is still lacking.

The Best Methods for Users

• By taking these simple precautions, users can improve their security:
• Make an offline backup of your seed phrase rather than using cloud services.
• Turn on MFA and biometric login within the Pi app.
• When transacting, stay away from unreliable Wi-Fi and keep your device updated.

Although there are currently few node roles, operating a Pi Node offers additional transparency for those who are more technical.
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Although Pi's infrastructure blends robust cryptography with mobile usability, a large portion of the system still depends on centralized control over KYC data and consensus. As a result, Pi's security model becomes less decentralized and more custodial, diminishing user sovereignty.

User Experience and Community

One of Pi Network's most notable features—and one of its most divisive ones—is its community, which has more than 60 million members worldwide. Growth that is driven by the community has been crucial in determining the project's legitimacy and public opinion.

Growth, Governance, and Trust

Pi's referral-based mining system and Security Circles, in which users vouch for reliable peers to create a trust graph, have been key factors in the company's growth. In addition to strengthening the network's consensus model, this establishes a social structure that validates itself.

Community voting and proposal submission.

 Are part of governance, and Pi uses its app to get user input. Early DApp development has been encouraged by events like hackathons and developer grants, giving the impression of a grassroots ecosystem.

This same structure, however, is criticized for being unduly dependent on user acquisition; some have even compared it to a pyramid scheme. Critics wonder if growth on its own is worth it, while supporters cite global reach and active engagement.

Final Thoughts and Suggestions

The legitimacy of Pi Network is still a contentious issue after years of development and hype. Proponents highlight its large user base, design that prioritizes mobile devices, and recent advancements in Mainnet functionality. Critics point out a discrepancy between the project's current state and its stated goals.

The team's continued control over Mainnet infrastructure, centralized decision-making, and a referral-based model that prioritizes user acquisition over demonstrated utility are the main causes of the skepticism. On paper, the Pi ecosystem is expanding, but there is still a lack of practical application, decentralization, and significant token liquidity.

However, there is no cost associated with taking part in Pi. The entry barrier is low for people who are interested in the project. You can experiment with apps, explore its features, and track its development without having to risk money—just your time and personal information.

Although the team's roadmap and governance plans are still unclear, Pi has the potential to develop into something more in line with crypto-native principles. Treating Pi as a completely trustless or blockchain-native platform is challenging until the project delivers on decentralization, open infrastructure, and external integration.

Pi Network is not yet the revolution it claims to be, but it is currently in the middle of ambition and execution. As usual, proceed cautiously, confirm information from reliable sources, and avoid confusing hype with actual products.

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FAQ's

What Makes the Mobile Mining Model of Pi Coin Different from Traditional Cryptocurrency Mining Techniques?

Pi Coin’s mobile mining allows users to mine crypto with a smartphone, requiring no hardware or high energy use. Unlike Bitcoin’s resource-heavy mining, it is eco-friendly and accessible to everyone.

What Are the Differences Between the Pi Network's Security Procedures and Those of More Well-Known Blockchains?

Pi Network relies on a trust-circle-based consensus using the Stellar Consensus Protocol, unlike Bitcoin’s Proof of Work. It’s less decentralized but more energy efficient and mobile-native.

What Information Is Necessary for New Users to Manage Private Keys and Protect Their Digital Wallets?

New users must securely store their private key offline. Never share it, avoid cloud storage, and understand that losing this key means losing access to Pi coins forever.

Which outside variables should investors keep an eye on in order to assess modifications to Pi Coin's legal and regulatory status?

Investors should follow global crypto regulations, Pi Network’s KYC policy updates, and monitor official announcements from the Pi Core Team and regional regulators.

What Role Does Community Involvement Play in the Pi Network's Future Growth and General Trust?

The Pi Network's strength lies in community engagement — from mining and KYC to app building and trust. An active community ensures utility, trust, and sustained growth.

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San Semzo

San Semzo is a passionate SEO content writer, blogger, and co-founder of Trendonomic. She helps businesses grow with words that rank and connect. She writes about digital trends, online income, marketing strategies, and blogging tips for creators and entrepreneurs.