• Pi Community is among the greatest blockchains on the earth.

• Huobi listed Pi/USDT, a coin that has been disowned by Pi Community.

Huobi, the worldwide cryptocurrency change, made the controversial determination to checklist Pi Coin final week. Since then, PI/USDT value has surged from a low of $0.0096 to a excessive of $89. This rebound makes it one of many top-performing cryptocurrencies on the earth. However there’s a massive drawback about Huobi’s Pi Community itemizing.

What’s Pi Coin?

Pi Community is among the greatest gamers within the blockchain on the earth. It’s a blockchain venture that was began by two Stanford College alumni in 2018. Since its founding, it has thrived because the variety of customers have grown quickly.

For instance, Pi Community’s Android app has over 50 million downloads whereas its Twitter account has over 2 million followers. Pi Browser has over 10 million customers all over the world. The community has over 35 million customers globally.

The builders goal to create a cryptocurrency that might be mainstream because it solves the challenges that present cryptocurrencies have. For instance, as a substitute of counting on complicated mining {hardware}, anybody with a smartphone can mine their Pi cash utilizing their smartphones.

Pi Community additionally goals to create a full ecosystem that can embody video games and different platforms that might be powered utilizing the Pi coin. Nonetheless, for now, it’s unimaginable to rework Pi Cash into money because the coin has not been listed in exchanges.

Pi Coin disowns Huobi’s Pi/USDT

Huobi made the controversial determination to checklist the Pi/USDT pair, a monetary by-product that goals to trace the efficiency of Pi. In a press launch, Pi mentioned that it had disapproved the unauthorized determination to checklist its token with out authorization. The corporate added that it had no affiliation or relationship with Huobi and different associated exchanges and that Pi/USDT was not the true coin. The assertion added that:

“All through this interim Enclosed Mainnet interval, the Pi Mainnet is stay, albeit with a firewall that stops any undesirable exterior connectivity. The firewall ensures there isn’t a connectivity between Pi and different blockchains or crypto exchanges with out the specific authorization of the community.”

So, is Huobi’s Pi Coin a great purchase?

PIUSDT chart by TradingView

We consider that the Pi Coin listed by Huobi is just not a real token to spend money on and even commerce. As we wrote on this article on Friday, we consider that Huobi is a considerably dangerous crypto change to spend money on. If the builders can checklist a pretend coin, what can’t they do?