Crypto Academy / Season 3 / Week 2 - Homework Post for @awesononso
Hi, friends hope you all are fine, today I just completed the week to lecture by professor @awesononso in which the professor teaches us about genesis block of blockchain in depth.
Professor teaches us the importance of genesis block in bitcoin and other blockchain's, I'm going to write a homework post hopefully this will help others to learn to keep reading.
1. What is the Genesis Block of a Blockchain?
Genesis Block is the very first blockchain of any blockchain in which there is no any previous hash of block. by the genesis blockchain, we can find the start of the block in any blockchain.
Blockchain is basically a chain of blocks each block has transaction data and each blockchain is linked to each other.
Every block has a field called previous hash of block in which the previous hash of a block is stored and this way all the chain goes on but in the genesis block, there is not pervious hash of block because it is first blockchain of blockchain chain so we can find previous hash to zero.
2. Write on the Bitcoin Genesis Block and its significance.
Bitcoin is the very first implementation of blockchain technology in which all the concepts are implemented like peer-to-peer and consensus algorithms.
Bitcoin Genesis Block is also known as block zero of the bitcoin blockchain and was mined by Satoshi Nakamoto(Unkown) on January 03, 2009, at 11:15 PM. and that time block reward was 50 Bitcoin(BTC) per block and block difficulty was not that much higher even anyone can start mine from a laptop or personal computer.
Bitcoin Genesis block is the very first block of bitcoin blockchain and have importance because it was the first start of revolutionary technology and minted by its developer or we can say mind behind this technology .
3. Locate the Steem Genesis Block
We have to follow few steps to locate the Steem Genesis Block
- First of all, go to https://steemworld.org/[https://steemworld.org/]
- Now click on Block Explorer
- Now enter the block number you want to see. In Steem Blockchain Genesis block start from 1, Enter one and press ok
- Now it will take few seconds to load data after waiting you can see the details of the genesis block
He can see details of the genesis block was mined on 2016-03-24 by initminer