NPK TALK SERIES (EPISODE 8)
Welcome to another exciting weekly episode of NPK Talk Series by Near Protocol Nigeria, where we bring you all the latest developments in crypto over the past week. Today we are going to talk about the evolution of the Bitcoin Pizza day celebration and the NEAR foundation invitation to the Terra community.
The origin of Bitcoin Pizza Day was In May 2010 Laszlo Hanyecz bought two large pizzas with his Bitcoins. The celebration of bitcoin Pizza day is appropriately named because it was the first time that Bitcoin was used by people to buy physical goods. At that time, people mined Bitcoins. Bitcoin mining is the process of creating new bitcoins. In order to successfully add a block, Bitcoin miners compete to solve extremely complex math problems that require the use of expensive computers and enormous amounts of electricity. To complete the mining process, miners must be first to arrive at the correct or closest answer to the question. The process of guessing the correct number (hash) is known as proof of work. Where each successful miner is rewarded with 50 bitcoins for discovering a new block, this means that one only needed to mine 200 blocks to earn 10,000 Bitcoins.
Hanyecz announced on Bitcointalk.org that he was looking to buy Pizza using Bitcoin. According to CBS, the price of Bitcoin was less than half a cent per coin then. Jeremy Sturdivant agreed with the offer and he sold two big Pizzas to Hanyecz which were made by Papa John’s.
As a result of this, the global crypto community celebrates the the first Bitcoin physical transaction every year. This gives room to gather like-minded individuals from across the globe, to learn, discuss, share ideas and create new ideas on cryptocurrency.
Another interesting thing that happened during the week was NEAR Foundation invitation to Terra community. NEAR team endeavors to produce a secure environment for developers, funders, and community members to perceive their inspiration for an open Web world. NEAR is an open-source platform that accelerates the development of decentralized applications (DAPPs). NEAR focuses on providing solutions to the main problems of today’s blockchain — usability and scalability.
During this turbulent period, projects building on the terra network is now facing an undetermined time ahead. NEAR foundation prevails on anyone presently building on Terra to join NEAR community as they use almost common coding languages, which will make the switch simple. In conclusion, NEAR ecosystem has an extensive document on building and deploying on its network.
