THE COIN COUNSEL

On May 22, the cryptocurrency community celebrates international Bitcoin Pizza Day. Less than two years after Satoshi Nakamoto published the nine-page Bitcoin whitepaper, Laszlo Hanyecz legitimized the use of cryptocurrency with the purchase of two pizzas for 10,000 BTC. In the initial days, there weren’t any reliable venues where Bitcoin trades can be conducted. Instead, BTC was traded via direct communication through discussion boards and Internet Relay Chat rooms. This was the time when the cryptocurrency was in the experimental stage,and was worth few cents.The Florida-based programmer, Hanyecz, went on to become the first person to use Bitcoin in a commercial transaction after paying 10,000 BTC for two Papa John’s pizzas on May 22, 2010. At the time of purchase, Bitcoin was worth $41. Today, 10,000 BTC would today cost around $300 million. 

What is NFT? NFT stands for a non-fungible token, which means it can neither be replaced nor interchanged because it has unique properties. Features : Digital Asset - NFT is a digital asset that represents Internet collectibles like art, music, and games with an authentic certificate created by blockchain technology that underlies Cryptocurrency.  Unique : It cannot be forged or otherwise manipulated.  Exchange - NFT exchanges take place with cryptocurrencies such as Ethereum, Polygon, Solana  on specialist sites. Notable Example : Cryptopunks, Bored Ape Yatch Club, Alien Frend, Aliens Networks NFTs is a notable example of an NFT. It enables you to buy, sell and store NFT collectibles with proof-of-ownership. How Does NFT Work? Now that you've taken your initial steps in understanding what an NFT is, you should continue on and learn about how an NFT works. The majority of NFTs reside on the Ethereum cryptocurrency's blockchain, a distributed public ledger tha...