White Paper Outline Pite
  • 1.Executive Summary
    • Project Background
    • Main Objectives
    • Core Features
    • Project Introduction
  • 2.Technical Architecture
    • Dandelion Protocol
    • Pi Network Asset Fork
    • Mapping Process from Pi Assets to Pite Tokens on the BNB Chain
  • 3.Asset Verification and Mapping
    • Pi Asset Verification Process
    • Ethereum Address Verification Process
    • Generation and Distribution of BNB Chain Pite Tokens
  • 4.Economic Model
    • Pite Token Issuance Mechanism and Economic Model
  • Appendix
    • Technical Details and White Paper References
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  1. 1.Executive Summary

Project Background

Project Background

1. Introduction to Pi Network

Pi Network is a cryptocurrency project aimed at achieving large-scale adoption and usability. It was launched in 2019 by a team of PhDs from Stanford University. Pi Network allows users to mine cryptocurrency using mobile devices, making it accessible to ordinary users. By leveraging consensus algorithms and the computing power of mobile devices, Pi Network allows users to mine through a simple application, greatly lowering the entry barrier. To date, Pi Network has amassed a global user base of over ten million.

2. Dandelion Protocol

The Dandelion Protocol is a privacy protection technology in blockchain networks. It hides the origin of transactions by dividing the transaction propagation process into the "dandelion phase" and the "diffusion phase." In the dandelion phase, transactions are transmitted along a random path in the network. Only in the diffusion phase are they widely broadcast to the entire network. This method effectively enhances transaction privacy and prevents tracing the transaction source.

3. Background of Pite Project

Piteswap is an innovative project that forks Pi assets based on the Dandelion Protocol and generates Pite tokens on the BNB (Binance Smart Chain). The core goal of Piteswap is to isolate, verify, and map Pi Network assets using fork technology and the Dandelion Protocol, thereby creating a new decentralized trading platform on the BNB chain.

Piteswap utilizes Bitcoin fork technology and the Dandelion Protocol to isolate and verify Pi Network assets and map them to the BNB chain to generate Pite tokens. This process not only increases the liquidity of Pi assets but also enhances transaction privacy and security. The Piteswap platform allows users to easily verify Pi assets and Ethereum addresses, and upon verification, obtain equivalent Pite tokens, thus participating in a broader blockchain ecosystem.

The emergence of Piteswap provides Pi Network users with new asset management and trading channels and offers new perspectives for the application scenarios of blockchain technology. By integrating blockchain technology, fork technology, and privacy protection protocols, Piteswap aims to create a secure, transparent, and efficient decentralized trading platform, promoting the adoption and application of cryptocurrencies.

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Last updated 8 months ago