Post
Topic
Board Nigeria (Naija)
Re: [Competition]💡Naija Board Quiz Competition 💡June Edition 📅
by
B-BossMan
on 22/06/2025, 08:16:55 UTC
1: before I answer this question, I go like know watin the SHA mean first which is( SHA stands for "Secure Hash Algorithm" the SHA dey among family of cryptographic hash functions.
SHA-256 dey important to Bitcoin because:
→E dey help Bitcoin stop fraud which make sure say all members accept that all transactions dey legit in times of network.
→SHA dey  also make sure say the unity and legality of digital documents work smoothly.
→ E dey also served as proof or work done.

2: E dey works by vigorous adjustment of  difficulties which make sure say the network stability remain assured.

3: me I no fit stress my head on this, I don do search tire, but I guess say na Theymus be receiver while Satoshi na sender.

4: 1:what are the correlation of cyberpunk community with bitcoin ?
Answer- the correlation na privacy because if you make any transactions, no any authority or Government go control you or interfere over your transactions.
2: What are the features of Cyberpunk ,?
-privacy and
- Decentralized
E dey help Bitcoin to promote individual's freedom  too.

5: since Bitcoin dey highly volatile in nature,we go need to understand the concepts of Volatility:
Volatility na something wey dey estimate the difference on asset price, or any assets wey dey fluctuate anytime na volatile.
So relationship of Bitcoin and volatility na market fluctuations.

6:  What incentives will be a core tenants for rewards?
Answer: this na transactions fee and reward of block.

and how might that affect network security?
Answer: watin dey affect network security na hashrate or if activities of minners dey reduce E dey affect network protection.

7: How do global anti-money laundering (AML) and know-your-customer (KYC) regulations affect Bitcoin’s pseudonymous (privacy) nature?
Answer: As Bitcoin get the KYC and AML regulations E go help Fighting fraudulent activity and make sure among the users, they get a good trust among them sef because of users identity verification in terms of financial system.

8: What is the position of bitcoin in Nigeria legal system?
Answer: at this point I will say partially "YES" because since our main 2 bodies don set a regulations and guidelines wey citizens go follow such as SEC and CBN I would say YES

who first proposed Naija local board?
Answer: Na Mpamaegbu

on what premises was his inspiration?

Answer: It because he don already know say Naija people get talent and them dey very hard working, which hopping that Naija people go carry crypto matter go the higher level of communication.