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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
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中尚未开发的资源货币化
Governance – Currency for and by the people
治理——众创和众用的货币
Roadmap / Deployment plan
路线图/部署计划
Draft 1 on March 14, 2019
草案1 2019年3月14日
Preface
前言
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，加密货币成为货币发展的自然趋势。Pi将是每一个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：建立一个平常人能运用的加密货币智能合约平台，既安全又易于操作。
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
免责声明:因为Pi的使命是尽可能包容，我们将借此机会介绍给新入场的区块链新手们:)
Introduction: Why cryptocurrencies matter
引言: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，当辛迪使用贝宝向史蒂夫转移5美元时，贝宝保持着从辛迪账户借记5美元和记入史蒂夫账户5美元的中央记录。像银行、贝宝和当前经济体系的其他成员这样的中介机构在监管世界金融交易方面发挥着重要作用。
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:
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(贝宝的市值约为1300亿美元)，但几乎没有把任何东西转嫁给他们的客户——实地的普通人，他们攫取的钱财在全球经济中占有相当大的比重。越来越多的人被远远摔在身后而望尘莫及。
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。银行和公司为方便交易收取高额费用。这些费用往往严重影响到低收入人口，而他们别无选择。
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。如果一个信托机构认为你不应该转移你的钱，它可以对你的钱的流动设置限制。
Permissioned. The trusted intermediary serves as a gatekeeper who can arbitrarily prevent anybody from being part of the network.
4.许可。作为中间商的授信机构成为你进入全球网的守关人，可以任意阻止任何人成为网络的一份子。
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地披露—-或者强迫你披露—-比你想要的更多的关于你自己的财务信息。
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。有史以来第一次，人们可以安全地交换价值，而不需要第三方或信任的中间人。用比特币支付意味着像史蒂夫和辛迪这样的人可以直接互相支付，绕过机构收费、障碍和入侵。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
分布式分类账介绍
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录实现了这一历史壮举。尽管目前的金融体系依赖于传统的真实记录，但比特币的记录是由一个分布式的"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"，其中包含交易记录，由这个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(以及一般的区块链技术)的突破在于，尽管记录是由社区维护的，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超越系统。这种技术进步允许取消集中的中介，而不损害交易性金融安全。
Benefits of distributed ledgers
分布式分类账的好处
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. 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.
除了地方分权，比特币，或者一般的加密货币，共享一些好的属性，使货币更加智能和安全，虽然不同的加密货币可能在某些属性上更强，而在其他的弱，基于他们的协议的不同实现。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，称为私人密钥。这种私钥通过密码签署交易，实际上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人钥匙的任何人拿走。由于分散的特性，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。加密货币事务是不可变的，因为每个事务块表示之前存在的所有块的加密证明(散列)。一旦有人寄钱给你，他们不能偷回他们的付款给你(也就是说，没有跳票在块环链)。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"智能合同"不仅依赖于执法，而且直接通过可公开审计的代码执行，这使得它们不受信任，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)
分布式总账的安全(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性——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分类账。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"工作证明")的新颖过程，以确定谁是"可信任的"，从而更新交易的共享记录。
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。为了验证，验证器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交易块的奖励。发布最新的交易块允许验证器"挖掘"一块奖励-目前12.5比特币(约合40,000美元在本文撰写时)。
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，以至于在比特币记录上公布诚实的交易始终符合验证者的自身利益。

 

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