PiChain is an EVM-compatible blockchain that aims to complement the original Pi Network. PiChain seeks to bring scalability, security, robustness, and utility to Pi Network. It aims to harmonize with the original crypto.
PiChain project is a community-first blockchain that aims to empower Pi holders and enthusiasts. PiChain will ultimately provide Pi users with access to blockchain games, NFTs, and the ever-growing DeFi ecosystem, one in which they can showcase their favorite Pi for a wide range of applications.
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The main goal of PiChain is to increase the use cases of Pi Network by
providing it with much-needed utility. Pi users can achieve this goal by
merely wrapping their $PI into Pi Network smart contracts and receiving
$wPI PoS tokens in return. $wPI tokens live on the Pi Network blockchain
and will allow users to access an ecosystem of DeFi products, NFTs and
GameFi, all indirectly powered by their original $PI tokens. Examples of
potential use cases include:
PiChain relies on the Polygon Edge framework to build its standalone, EVM-compatible blockchain. EVM stands for Ethereum Virtual Machine, which means that this smart contract-capable platform will be compatible with dApps deployed on Ethereum, In addition to existing protocols, Dogechain will propose its own smart contracts, thus building upon the extensive DeFi ecosystem. Bitcoin and other payment-focused / store-of-value blockchains haven’t been able to invoke the same demand as smart contract-capable platforms.
In contrast, PiChain’s ability to improve Web3 ecosystem productivity promises to increase blockspace demand. This event will equally play a part in increasing demand for the native cryptocurrency of PiChain, the $PIC token. Given PiChain’s capacity for high throughput and decentralization, token users will not need to suffer the same user concerns associated with many PoW tokens (including low transactions per second, public chain
congestion, centralized mining, and high transaction fees). Moreover, PiChain will conserve a high degree of decentralization due to its PoS architecture. PiChain relies on a predefined number of validators to facilitate its Proof-of-Stake (PoS) consensus mechanism, a setup that leads to shorter block times and lower fees. In PoS, validator candidates with the highest number of tokens staked are allowed to become validators and produce blocks. The token also employs slashing scenarios, hence leading to security, decentralization, reliability, transparency, stability, and block finality.
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