Rinse and soak the black eyed peas overnight, or at least 6 hours.
In a large pot, heat a drizzle of oil and sauté the onions for about 5 minutes until they are translucent.
Add the minced garlic and sauté for another minute, until fragrant.
Stir in the smoked paprika and thyme, cooking for an additional minute to bloom the spices.
Add the rinsed black eyed peas, water (or broth), salt, and pepper to the pot, then bring to a boil.
Reduce heat to low, cover, and let simmer for about 45-60 minutes until the peas are tender.
If using, add in the diced ham or bacon during the last 10 minutes of cooking.
Once cooked, taste and adjust the seasoning with additional salt and pepper, if needed.
Serve warm, optionally garnished with fresh herbs or hot sauce for an extra kick.