Hello every one welcome to my first official weekend crypto lecture, so hopefully you learn and also achieve great things so lets begin with what we have as my task.
Before reading this good lecture if you asked me this question i will say it is bitcoin that is the genesis block of a blockchain although i am not wrong but my explanation was too common but now i know what a genesis block of a blockchain is let me explain it very well.
The term genesis means in the beginning so referring to block chain you can see that it means in the beginning of blockchain (genesis block), it refers to the first ever hashed block of a particular blockchain, it is not data/information from other blocks in the blockchain because it is a block that is not mined unlike the others the genesis block is unique because it is not from any proceeding block, the rewards you get from the genesis block can not be withdrawable, they are usually called block 0 because it is the origin which other coins can trace it's origin to and it can be built upon.
It is the bitcoin genesis block so obviously it is the most important block in all cryptocurrency blocks because it is the first and foundation of all cryptocurrency block, bitcoin block is known as block 0 so it was the first mined block, it was mined on the day when this article title was seen on the newspaper and the title of the article says ‘’Chancellor on brink of second bailout for banks’’ which was encrypted in numbers by the masked founder of bitcoin shatoshi nakamoto In his last coinbase transaction of the genesis block, it took days like 6 days to mine the second block after the first block was mined and it took 10minutes for the next block to be mined.
It is not confirmed yet but according to some reports, it is believed that the headline in the news prompted shatoshi nakomoto to make the news public, although the genesis block had been created before then, he just altered the time stamp and also it is believed that shatoshi nakomoto might have tested his software which was later released in 2009 on the 3rd of january that means he deleted the tested net and then launch the main net but note that what i wrote above is not proven yet however it is believed because instead the normal 10minutes to mine a block this one took days.
It is an unknown developer who developed bitcoin genesis block even till date no one knows who he or she is, it remain a mystery because the token was mined out of nowhere and of course the reward was also made unavailable.
When the first block which is the bitcoin genesis block was mined, the mining reward of 50btc was received by the wallet address:(1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfN) and till date it can't be spent.
The door of decentralization was opened when the first block was mined which is the bitcoin genesis block and now it is just a matter of time before the world move to decentralized.
The bringing of other cryptocurrency like ethereum, ada, xrp and so on was because of the bitcoin genesis block that was mined because of the bold step of shatoshi nakomoto and now we have over 10,000 cryptocurrency in existence.
Now because of the bitcoin genesis block that was mined in the past by an unknown individual there is hope because bitcoin can be used now to pay for physical and digital things.
The Bitcoin genesis block has created a good example that other cryptocurrency follow in the mining process which is neat.
i am looking for the steem genesi block so i go to https://steemworld.org And login
when login in click on sign in then a drop down form will display then input your details then sign in
the next thing to do is click block explorer
it is the first block i am trying to see then i insert 1 and then click ok
This is the Steem genesis block you will see
I have become more educated all thanks to this great lecture from @awesononso who because of now i know that it is the bitcoin genesis block mining process that other cryptocurrency uses today.
I must also say because of this lecture i now know how the steem genesis block looks like although i have been in steem since i have not seen any user that have mentioned this so thank you again @awesononso for a good lecture.
