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Pi Network, a cryptocurrency project you could join with just your phone since its Pi Day (March 14) debut in 2019, turned a new page on February 20, 2025, by finally launching its Open Mainnet rolling slot. Two Stanford PhDs, Dr. Nicolas Kokkalis and Dr. Chengdiao Fan, are behind this push to get cryptocurrency into the hands of ordinary folks, sidestepping the usual headaches of pricey gear and massive power bills that come with mining.
The team calls Pi the first digital money for everyone, something you can “mine” right on your smartphone. They use a system based on the Stellar Consensus Protocol (SCP), tweaked into what they call Federated Byzantine Agreement (FBA), to keep things light on battery and easy for phones to handle. Pi Network wants to build a digital currency and app platform that its worldwide users run and keep safe, hoping this will make finance fairer and fix some of the clunkiness of regular money.
Dr. Nicolas Kokkalis, leading the tech side, earned his Computer Science PhD at Stanford, where he also taught the university’s first course on decentralized apps. His work has focused on making distributed systems and human-computer interaction play well together. Interestingly, he cooked up a smart contract framework even before Ethereum came along and also co-founded StartX, a startup incubator connected to Stanford.
Cryptocurrency market
With a blockchain, it’s possible for participants from across the world to verify and agree on the current state of the ledger. Blockchain was invented by Satoshi Nakamoto for the purposes of Bitcoin. Other developers have expanded upon Satoshi Nakamoto’s idea and created new types of blockchains – in fact, blockchains also have several uses outside of cryptocurrencies.
Even though market cap is a widely used metric, it can sometimes be misleading. A good rule of thumb is that the usefulness of any given cryptocurrency’s market cap metric increases in proportion with the cryptocurrency’s trading volume. If a cryptocurrency is actively traded and has deep liquidity across many different exchanges, it becomes much harder for single actors to manipulate prices and create an unrealistic market cap for the cryptocurrency.
Cryptocurrency market capitalization (market cap) refers to the total value of a particular cryptocurrency that is currently in circulation. It is calculated by multiplying the current market price of a cryptocurrency by the total number of coins or tokens that have been issued. The total market capitalization of all cryptocurrencies for today is $3,565,181,735,202
A cryptocurrency’s market cap increases when its price per unit increases. Alternatively, an increase in circulating supply can also lead to an increase in market cap. However, an increase in supply also tends to lead to a lower price per unit, and the two cancel each other out to a large extent. In practice, an increase in price per unit is the main way in which a cryptocurrency’s market cap grows.
Cryptocurrency works through networks of nodes that are constantly communicating with each other to stay updated about the current state of the ledger. With permissionless cryptocurrencies, a node can be operated by anyone, provided they have the necessary technical knowledge, computer hardware and bandwidth.
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In order to send and receive a cryptocurrency, you need a cryptocurrency wallet. A cryptocurrency wallet is software that manages private and public keys. In the case of Bitcoin, as long as you control the private key necessary to transact with your BTC, you can send your BTC to anyone in the world for any reason.
Binance Coin (BNB) is a form of cryptocurrency that you can use to trade and pay fees on Binance, one of the largest crypto exchanges in the world. Since its launch in 2017, Binance Coin has expanded past merely facilitating trades on Binance’s exchange platform. Now, it can be used for trading, payment processing or even booking travel arrangements. It can also be traded or exchanged for other forms of cryptocurrency, such as Ethereum or bitcoin.
The total crypto market volume over the last 24 hours is $148.44B, which makes a 10.43% decrease. The total volume in DeFi is currently $25.86B, 17.42% of the total crypto market 24-hour volume. The volume of all stable coins is now $139.43B, which is 93.93% of the total crypto market 24-hour volume.
Even though market cap is a widely used metric, it can sometimes be misleading. A good rule of thumb is that the usefulness of any given cryptocurrency’s market cap metric increases in proportion with the cryptocurrency’s trading volume. If a cryptocurrency is actively traded and has deep liquidity across many different exchanges, it becomes much harder for single actors to manipulate prices and create an unrealistic market cap for the cryptocurrency.