In the populated world of the metaverse, the gateway to Web3 has become a guidepost for millions of enthusiasts around the world. Similarly, the crypto mining industry has woken up again owing to cloud mining and mobile mining options. The original concept of mining done by smartphones was introduced by Pi Network. But now the company is facing controversy and trouble on the horizon.
However, there is one company that has been guiding users through various decentralized applications, avoiding legal issues. We’re talking about WOW EARN, which offers a middle ground between a wallet and a mobile mining facility. But those who haven’t been up to date with market news wouldn’t know that WOW EARN actually emerged as a competitor of Pi Network. Now, it is not only an alternative but is gaining traction as a leading collaborator with top crypto exchange and payment platforms.
Let’s see why a multifunction wallet is outperforming the first-ever mobile mining entity by analyzing the following differences:
Regulatory Scrutiny:
- Pi Network is currently facing unexpected yet serious scrutiny from Vietnamese authorities. According to news sites, there’s some ambiguity associated with the network’s mode and objective for operation.
- Unlike its competitor, WOW EARN is all about maintaining regulatory compliance in order to avoid authorities getting suspicious. The app also operates without significant regulatory challenges, positioning it as a more stable option.
Transparency and Clarity:
- In recent times, authorities have become concerned about Pi Network’s business model and management. This resulted in a large user base becoming hesitant to use the network for daily mining with their smartphones. The Pi Network situation is a classic example of how important it is for a company to stay in the clear.
- WOW EARN, on the other hand, has never been doubted for suspicious activities because the business model is structured that way. Emphasizes transparency, collaborating with multiple partners, and actively engaging with its community.
User base and growth:
- Pi Network boasts a substantial user base of 47 million members. But it took the platform 4 years since 2019 to reach this point. At first, it became increasingly popular among users in India and Vietnam. But now that it faces accusations of fraud and data harvesting, Pi Network’s growth is negligible.
- On the contrary, WOW EARN is rapidly expanding, even though it emerged not so long ago. Its simplicity, easy UI, and affordability have made it famous among active crypto enthusiasts from around the world. Currently, it has over 650,000 active wallet users, and daily new registration numbers range anywhere between 3,000 and 7,000. It’s easy to see that WOW EARN is setting new records in some way.
Integration and Functionality:
- Pi Network primarily focuses on mobile mining, which made it famous and every miner’s favorite network in the beginning. But by sticking to their one and only USP, they ended up limiting its integration with other blockchain functionalities.
- Every project that succeeded Pi Network made sure not to repeat its mistake, but only WOW EARN stood out as a completely new app. As it serves as a gateway to the Web3 ecosystem, the website can easily integrate decentralized applications and offer diverse features.
Mining Cryptocurrency:
- Both WOW EARN and Pi Network offer mobile cryptocurrency mining and a native token. It is called WOW in the WOW EARN ecosystem. Having a native token creates a clear and transparent economy within the mining app ecosystem.
- In the Pi Network ecosystem, users require PI tokens as a primary attraction. Using smartphones, it became possible for people to mine PI tokens easily. But as a rule, all users need to claim their Pi via the app, which restricts them.
Wallet:
- Pi Network explains on its website that cryptos stored in their wallets are immune to hacks and stealing without using the private key. The wallet became the only way to access the Pi mainnet.
- WOW EARN also has a native wallet that comes with the Wallet Connect compatibility feature. It allows receipt of USDT through invitations or joining the affiliate program. More importantly, they also offer low swapping fees by utilizing WOW Coin for swapping fees.
Partnerships:
- Pi Network also has a lack of meaningful collaborations throughout the industry.
- WOW EARN has over 10 major payment platforms as a partner in its ecosystem that allow global crypto purchases with fiat.
Engagement:
- As of now, the engagement rate and reputation of Pi Network have been suffering due to being under the legal scrutiny of the Vietnamese Department of Cybersecurity and Technology Crime Prevention.
- In the current situation, WOW EARN has been gaining more than 192,253 daily active users who are engaging with platform features. Because the WOW EARN website rewards its community daily and introduces new features.
DApp Ecosystem:
- Pi Network did not have a functionally complete DApp ecosystem.
- WOW EARN gave crypto mining enthusiasts a vast DApp ecosystem with more than 10,000 certified DApps listed on their open-source platform.
Services:
- When it comes to services, Pi Network lacks a fully structured ecosystem, even though it’s been in the industry for four long years.
- WOW EARN has educational content that guides users by covering concepts regarding blockchain tech, cryptocurrencies, NFTs, DeFi, and DApps.
Wrapping up
Despite being the top performer that brought the concept of mobile mining into the world of crypto, Pi Network is now being left behind. But the reason is not only legal scrutiny but also the commendable improvement in WOW EARN, its platforms, the simplicity of their offer, and more. Its rapid user growth is just one of the many signs of its success as a new platform for mobile mining with a multifunctional wallet.