- Baron Chymaker defined that Pi is a coin and never a token.
- Pi Community was in-built 2018, and even the pioneers could also be but to know absolutely how the community works.
- PI may be mined or acquired from the pioneers who’ve already mined the coin.
Baron Chymaker, a supporter of Pi Community, has acknowledged the distinction between cash and tokens. In keeping with Chymaker, cash discuss with cryptos with their very own blockchain community, whereas tokens describe cryptos that run on different blockchain networks.
Chymaker’s clarification is a part of a Twitter thread the place he educated his followers on the character of the Pi Community. He famous that the data handed within the thread was related for each the pioneers and the non-pioneers of the community, the vast majority of whom are but to know how PI coin works.
Within the thread, he in contrast PI to cash like BTC and ETH, since all of them function native currencies to their major blockchains. In distinction, he famous that cryptos like hello and Solana are tokens as a result of they’re constructed to run on secondary blockchains.
Chymaker attributed the mixup by customers to the novelty of the Pi Community. In keeping with him, PI is a cryptocurrency constructed for on a regular basis individuals, and it began in 2018 however was launched formally in 2019. Therefore, a pioneer might not essentially imply an skilled crypto consumer however anybody who’s presently mining PI.
Cash and tokens usually overlap by way of use case and performance. One of many distinctive attributes of cash is their skill to behave each as native tokens in addition to gasoline or gas cost tokens on their respective blockchains. Cash are created on the launch of blockchains from scratch, whereas tokens are created on prime of current blockchains. For each such token, there’s an current native crypto for the unique blockchain.
In keeping with Chymaker, there was by no means a plan for PI to be a traditional token. From the start, it has all the time been designed to perform as a coin, even after going dwell in December 2021. There was no preliminary coin providing (ICO) for PI. Therefore, to personal PI, it have to be mined or acquired from the pioneers.