Part 5/10:
At its core, Pi Network employs a blockchain that leverages a modified version of the Stellar Consensus Protocol. In theory, this allows for a significant volume of transactions, with claims reaching 70,000 transactions per second. However, current data indicates that the network has merely 28 nodes, primarily governed by the core team, demonstrating a high level of centralization—often a red flag in the world of cryptocurrency.
Mining within Pi Network rewards users with digital currency; however, it serves as a mere verification tool rather than a consensus mechanism unless individuals operate a node. As the white paper reveals, mining also allows for understanding how users perceive value in their tokens, and that understanding could drive future development.