Pi Network White Paper (白皮书)

Introduction引言

Problem: Accessibility of 1st Gen Cryptocurrencies
问题:第一代加密货币的易用性

Solution: Pi - Mining Goes Mobile
解决方案: Pi-让挖矿运行于移动终端（手机）

Pi Economic Model: Balancing Scarcity and Access
Pi经济模型:稀缺性与获取性的平衡

Utility: Monetizing untapped resources in p2p
效用: 将p2p（点对点）中尚未开发的资源货币化

Governance - Currency for and by the people
治理——由大众发行和使用的货币

Roadmap / Deployment plan
路线图/部署计划

Draft 1 on March 14, 2019

草案1，公布于2019年3月14日

Preface序言

As the world becomes increasingly digital, cryptocurrency is a next natural step in the evolution of money. Pi is the first digital currency for everyday people, representing a major step forward in the adoption of cryptocurrency worldwide.
随着世界变得越来越数字化，加密货币自然而然成为货币发展的下一步。Pi将是我们普通人日常生活中使用的第一种数字货币，标志着全世界在采用加密货币方面向前迈进了一大步。

Our Mission: Build a cryptocurrency and smart contracts platform secured and operated by everyday people.
我们的使命：建立一个加密货币和智能合约平台，由普通人来操作与维护。

Our Vision: Build the world's most inclusive peer-to-peer marketplace, fueled by Pi, the world's most widely used cryptocurrency.
我们的愿景: 在Pi（世界上使用最广泛的加密货币）的推动下，建立世界上最具包容性的p2p（点对点）市场。

DISCLAIMER for more advanced readers: Because Pi's mission is to be inclusive as possible, we're going to take this opportunity to introduce our blockchain newbies to the rabbit hole
为更高级的读者提供的免责声明:因为Pi的使命是尽可能包容，我们将借此机会给区块链新手们介绍下区块链技术。（意思是高手可以跳过下面一些基础知识）

Introduction: Why cryptocurrencies matter
前言:为什么加密货币如此重要
Currently, our everyday financial transactions rely upon a trusted third party to maintain a record of transactions. For example, when you do a bank transaction, the banking system keeps a record & guarantees that the transaction is safe & reliable. Likewise, when Cindy transfers $5 to Steve using PayPal, PayPal maintains a central record of $5 dollars debited from Cindy's account and $5 credited to Steve's. Intermediaries like banks, PayPal, and other members of the current economic system play an important role in regulating the world's financial transactions.
目前，我们日常的金融交易依赖于一个值得信赖的第三方来维护交易记录。例如，当你进行银行交易时，银行系统会记录并保证交易是安全可靠的。同样，当Cindy使用PayPal向Steve转账5美元时，PayPal保持着从Cindy账户记出5美元和记入Steve账户5美元的记录。中介机构像银行、PayPal和当前经济体系的其他成员在世界金融交易体系中发挥着重要作用。

However, the role of these trusted intermediaries also has limitations:
然而，这些值得信赖的中介机构的作用也有局限性:

• 1. Unfair value capture. These intermediaries amass billions of dollars in wealth creation (PayPal market cap is ~$130B), but pass virtually nothing onto their customers - the everyday people on the ground, whose money drives a meaningful proportion of the global economy. More and more people are falling behind.
  1.不公平的价值获取。这些中介机构积累了数十亿美元的财富创造（PayPal的市值约1300亿美元），但几乎没有赋予客户（普通人）任何东西，这些普通人的钱财在全球经济中占有相当大的比重。越来越多的普通人被甩在身后。

• 2. Fees. Banks and companies charge large fees for facilitating transactions. These fees often disproportionately impact lower-income populations who have the fewest alternatives.
  2.费用。银行和公司为促进交易收取高额费用。这些费用往往严重影响到低收入人口，而他们别无选择。

• 3.Censorship. If a particular trusted intermediary decides that you should not be able to move your money, it can place restrictions on the movement of your money.
  3.审查制度。如果一个中介机构认为你不应该转移你的钱，它可以冻结你的钱。

• 4.Permissioned. The trusted intermediary serves as a gatekeeper who can arbitrarily prevent anybody from being part of the network.
  4.许可。中介机构成为全球金融网络的守门人，可以任意阻止任何人成为网络的一份子。

• 5.Pseudonymous. At a time when the issue of privacy is gaining greater urgency, these powerful gatekeepers can accidentally disclose – or force you to disclose – more financial information about yourself than you may want.
  5.隐私。在隐私问题变得越来越紧迫的时候，这些强大的看门人可能会意外披露----或者强迫你披露----更多的财务信息。

Bitcoin's "peer-to-peer electronic cash system," launched in 2009 by an anonymous programmer (or group) Satoshi Nakamoto, was a watershed moment for the freedom of money. For the first time in history, people could securely exchange value, without requiring a third party or trusted intermediary. Paying in Bitcoin meant that people like Steve and Cindy could pay each other directly, bypassing institutional fees, obstructions and intrusions. Bitcoin was truly a currency without boundaries, powering and connecting a new global economy.
比特币的"点对点电子现金系统"于2009年由一个匿名的程序员（或团体）中本聪发起，是货币自由的一个分水岭时刻。有史以来第一次，人们可以安全地交换价值，而不需要第三方或可信的中间人。用比特币支付意味着像Steve和Cindy这样的人可以直接互相支付，绕过中介的收费、阻碍和破坏。比特币是一种真正的无国界货币，为新的全球经济提供动力和连接。

Introduction to Distributed Ledgers
分布式账本的介绍
Bitcoin achieved this historical feat by using a distributed record. While the current financial system relies on the traditional central record of truth, the Bitcoin record is maintained by a distributed community of "validators," who access and update this public ledger. Imagine the Bitcoin protocol as a globally shared "Google Sheet" that contains a record of transactions, validated and maintained by this distributed community.
比特币通过使用分布式记账实现了这一历史壮举。尽管目前金融体系依赖于传统的中心记账，但比特币的记账是由一个分布式的"验证者"社区维护的，这些"验证者"负责访问和更新这个公共账簿。把比特币协议想象成一个全球共享的"谷歌表格"，其中包含了全球的交易记录，由分布式社区验证和维护。

The breakthrough of Bitcoin (and general blockchain technology) is that, even though the record is maintained by a community, the technology enables them to always reach consensus on truthful transactions, insuring that cheaters cannot record false transactions or overtake the system. This technological advancement allows for the removal of the centralized intermediary, without compromising transactional financial security.
比特币（以及区块链技术）的突破在于，尽管记账是由社区维护的，但该技术使他们总是能够就真实交易达成共识，确保骗子不会记录虚假交易或控制系统。这种技术进步允许取消中心化的的中介机构，而不损害交易的金融安全。

Benefits of distributed ledgers
分布式记账的好处
In addition to decentralization, bitcoin, or cryptocurrencies in general, share a few nice properties that make money smarter and safer, although different cryptocurrencies may be stronger in some properties and weaker in others, based on different implementations of their protocols. Cryptocurrencies are held in cryptographic wallets identified by a publicly accessible address, and is secured by a very strong privately held password, called the private key. This private key cryptographically signs transaction and is virtually impossible to create fraudulent signatures. This provides security and unseizability. Unlike traditional bank accounts that can be seized by government authorities, the cryptocurrency in your wallet can never be taken away by anyone without your private key.

除了去中心化，比特币，或者其它加密货币，共有一些好的属性，使货币更加智能和安全。不同的加密货币可能在某些属性上更强，而在其他属性上弱一些，跟它们采用的协议的不同有关。加密货币存放在由公共可访问地址标识的加密钱包中，并由一个非常强大的私人密码保护，称为私钥。这种私钥通过加密签名许可交易，几乎不可能创建欺诈性签名。这提供了安全性和无可可抓取性。不像传统的银行账户可以被政府当局查封，你钱包里的加密货币永远不会被没有你私钥的任何人拿走。

Cryptocurrencies are censorship resistant due to the decentralized nature because anyone can submit transactions to any computer in the network to get recorded and validated. Cryptocurrency transactions are immutable because each block of transactions represents a cryptographic proof (a hash) of all the previous blocks that existed before that. Once someone sends you money, they cannot steal back their payment to you (i.e., no bouncing checks in blockchain). Some of the cryptocurrencies can even support atomic transactions. "Smart contracts" built atop these cryptocurrencies do not merely rely on law for enforcement, but directly enforced through publicly auditable code, which make them trustless and can potentially get rid of middlemen in many businesses, e.g. Escrow for real estate.

由于分布式的特本质，加密货币具有抗审查的能力，因为任何人都可以向网络中的任何一台计算机提交交易，以获得记录和验证。加密货币的交易是不可改变的，因为每个区块记录了之前的所有区块的加密证明（即哈希值）。一旦有人转账给你，他们不能撤回他们的付款给你（也就是说，在块环链没有跳票一说）。一些加密货币甚至可以支持原子交易。建立在这些加密货币之上的"智能合约"不仅依赖于法律，而且直接通过可公开审计的代码来保证执行，这使得它们去信任化，并有可能摆脱许多企业的中间商，例如房地产托管中介。

Securing distributed ledgers (Mining)
维护分布式账本的安全（挖矿）
One of challenges of maintaining a distributed record of transactions is security – specifically, how to have an open and editable ledger while preventing fraudulent activity. To address this challenge, Bitcoin introduced a novel process called Mining (using the consensus algorithm "Proof of Work") to determine who is "trusted" to make updates to the shared record of transactions.
维护分布式交易记录的挑战之一是安全——具体来说，如何在防止欺诈活动的同时拥有一个开放和可编辑的账本。为了应对这一挑战，比特币引入了一种名为挖矿（使用共识算法"工作量证明"）)的新颖过程，以确定谁是"可信任的"，可以更新交易记录。

You can think of mining as a type of economic game that forces "Validators" to prove their merit when trying to add transactions to the record. To qualify, Validators must solve a series of complex computational puzzles. The Validator who solves the puzzle first is rewarded by being allowed to post the latest block of transactions. Posting the latest block of transactions allows Validators to "mine" a Block Reward - currently 12.5 bitcoin (or ~$40,000 at the time of writing).
你可以认为挖矿是一种经济游戏，它迫使"验证者"在试图将交易添加到记录中时证明自己的价值。为了获取记账资格，验证者必须解决一系列复杂的计算难题。首先解决这个难题的贡献者将获得允许发布最新的区块。发布最新的区块允许验证者“挖掘"奖励-目前12.5比特币（约合40,000美元在本文撰写时）。（按照现在价格约600,000美元）

This process is very secure, but it demands enormous computing power and energy consumption as users essentially "burn money" to solve the computational puzzle that earns them more Bitcoin. The burn-to-reward ratio is so punitive that it is always in Validators' self-interest to post honest transactions to the Bitcoin record.
这个过程非常安全，但它需要巨大的计算能力和能源消耗，因为用户实际上是"烧钱"来解决计算难题，从而赚取更多的比特币。烧钱与奖励的比例是如此的惩罚性，以至于在比特币链上公布诚实的交易始终符合验证者的自身利益。

Problem: Centralization of power and money put 1st Generation Cryptocurrencies out of reach.
问题: 权力和金钱的集中使第一代加密货币难以获取。
In the early days of Bitcoin, when only a few people were working to validate transactions and mining the first blocks, anyone could earn 50 BTC by simply running Bitcoin mining software on their personal computer. As the currency began to gain in popularity, clever miners realized that they could earn more if they had more than one computer working to mine.
在比特币的早期，只有少数人在验证交易和挖掘最初的区块，任何人只要在个人电脑上运行比特币挖矿软件就可以赚到50比特币。随着比特币开始流行，聪明的矿工们意识到，如果他们有不止一台电脑来开采，他们可以赚得更多。

As Bitcoin continued to increase in value, entire companies began to spring up to mine. These companies developed specialized chips ("ASICs") and constructed huge farms of servers using these ASIC chips to mine Bitcoin. The emergence of these enormous mining corporations, known drove the Bitcoin Gold Rush, making it very difficult for everyday people to contribute to the network and get rewarded. Their efforts also began consuming increasingly large amounts of computing energy, contributing to mounting environmental issues around the world.
随着比特币价值的持续增长，大批公司开始筹建矿场。这些公司开发了专门的芯片（"ASIC"），并利用这些ASIC芯片构建了巨大的服务器群来开采比特币。这些庞大的矿场公司的出现，推动了比特币淘金热，使得普通人很难为比特币网络做出贡献并获得回报。他们的行为也开始消耗越来越大量的计算能源，导致全球环境问题日益严重。

The ease of mining Bitcoin and the subsequent rise of Bitcoin mining farms quickly produced a massive centralization of production power and wealth in Bitcoin's network. To provide some context, 87% of all Bitcoins are now owned by 1% of their network, many of these coins were mined virtually free in their early days. As another example, Bitmain, one of Bitcoin's biggest mining operations has earned billions in revenue and profits.
挖掘比特币的便捷以及随之而来的比特币矿场的兴起，迅速促成了比特币网络算力和财富的大规模集中。这里提供一些数据，87%的比特币现在被1%的比特币网络地址所拥有，其中许多比特币在早期几乎是免费开采的。另一个例子是Bitmain，比特币最大的矿场，已经获得了数十亿美元的收入和利润。

The centralization of power in Bitcoin's network makes it very difficult and expensive for the average person. If you want to acquire Bitcoin, your easiest options are to:
比特币网络的权力集中，使得它对普通人来说是非常困难和昂贵的。如果你想获得比特币，你最简单的选择是:

• 1.Mine It Yourself. Just hook up the specialized hardware (here's a rig on Amazon, if you're interested!) and go to town. Just know that since you'll be competing against massive server farms from across the world, consuming as much energy as the country of Switzerland, you won't be able to mine much.
  1. 自己挖掘。只要拥有专门的硬件（如果你感兴趣的话，这里是亚马逊上的一个平台），然后拼命地挖。只要知道，由于你将与来自世界各地的大型服务器矿场竞争，消耗的能源相当于整个瑞士的能源，你将无法开采太多。

• 2.Buy Bitcoin on an exchange. Today, you can buy Bitcoin at a unit price of $3,500 / coin at the time of writing (note: you can buy fractional amount of Bitcoin!) Of course, you would also be taking on substantial risk in doing so as the price of Bitcoin is quite volatile.
  2. 在交易所购买比特币。如今，在撰写本文时，你可以以每枚3500美元的单价购买比特币（注意:你可以购买任意分数的比特币）当然，由于比特币的价格相当不稳定，这样做也将承担巨大的风险。

Bitcoin was the first to show how cryptocurrency could disrupt the current financial model, giving people the ability to make transactions without having a third party in the way. The increase in freedom, flexibility, and privacy continues to drive the inevitable march toward digital currencies as a new norm. Despite its benefits, Bitcoin's (likely unintended) concentration of money and power present a meaningful barrier to mainstream adoption. As Pi's core team has conducted research to try to understand why people are reluctant to enter the cryptocurrency space. People consistently cited the risk of investing/mining as a key barrier to entry.
比特币首次展示了加密货币如何打破当前的金融模式，使人们能够在没有第三方参与的情况下进行交易。自由度、灵活性和隐私的增加继续推动着数字货币不可避免地成为一种新的规范。尽管比特币有很多好处，但它（可能是无意的）的资金和权力集中给主流应用带来了很大的障碍。Pi的核心团队进行了一项研究，试图理解为什么人们不愿意进入加密货币领域。人们一直认为投资/采矿的风险是进入市场的一个关键障碍。