Pi Network seeks to offset the environmental damage done by Bitcoin mining

A new cryptocurrency network launched earlier this year by a group of Stanford graduates claims to have what it takes to succeed where Bitcoin has failed: a way to bring crypto to the masses, and without the energy-guzzling blockchain that damages the environment.

The Pi Network is a new type of “social cryptocurrency” that the Standford PhDs and graduates behind it—Nicolas Kokkalis, Chengdiao Fan, and Vince McPhillip—say is so lightweight and easy to use, it’s designed to run on mobile phones.

And, while it launched mere months ago on Pi Day (March 14) of this year, the team behind the Pi Network claims that the project just weeks ago surpassed 500,000 installs, with active members in more than 180 countries.

It’s growing popularity, according to McPhillip—Pi’s head of community, is a result of the network’s relative “accessibility.” In an interview with Decrypt, McPhillip explained that Pi, unlike Bitcoin, is powered by the strength of its users’ “social…