Crypto Academy | Season 3 | Week 2 - Homework post for [Professor @awesononso] The Genesis Block: The Beginning of the Beginning

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Am gladdened once again for yet another exciting season of this platform. It is of great privilege to partake in this week's Crypto Academy Contest presented by Professor @awesononso as it will be an avenue to have more understanding of the beginning of blockchain.

What is The Genesis Block of a blockchain

The Genesis block of a blockchain in a simple note is the dawn of a particular blockchian. It is first block that exist in a blockchain and as such gives birth to other new blocks in a blockchain. Just like a building cannot exist a foundation, meaning a foundation is the bedrock too which a building can stand. Same is applicable to Genesis block of a block chain, it is a block that is created or that exist first in a blockchain becoming a foundation or bedrock for other blocks to be given birth to in the blockchain. Other blocks are therefore built on the existence of the Genesis block. It gives room for other block creation in a blockchain.

Just like we have the first ever created and invented printer existing before the new brands of printer came into which actually came as a result of the first invented printer. This is what Genesis which protrays beginning of a block in a blockchain

Write on the Bitcoin Genesis Block and its significance

Bitcoin Genesis Block is the most substantial block that ever existed which gave room and birth to the block chain technology and crypto currency revolution. It first came into existence on the 3rd of January, 2009. The Bitcoin Genesis block was created by Satoshi Nakamoto with the intention of substituting the normal conventional banking system which had existed in the past based on it flaws. 50 BTC was first mined and stored and stored in the Genesis block of the block chain.

The Bitcoin genesis block, as the first block in existence in the blockchain cannot be linked to a previous block, which gives it some weird properties.
The Bitcoin genesis block was referred to as block 1 although now generally known as block 0. This block number represent the block distance from the very first block in the block chain.

Unlike 10 minutes delay we see today in mining Bitcoin, it took 6 days delay before a new block was given birth to the Bitcoin Genesis block.
Also, there was a concealed sentence written by Satoshi... which was discovered in coded form in The Times newspaper.

"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"

Significance of the Bitcoin Genesis Block

As the first ever block that existed, It became a bedrock for other blocks to be mined created.

Bitcoin Genesis Block is significant in the sense that it made wave for the revolution of crypto currency.

Bitcoin Genesis also gave a foundation as the first ever existing block for block chain technology.

Bitcoin Genesis Block brought about the valued decentralized system which is a much more better than the conventional centralized system.

Bitcoin Genesis block has created an opportunity for more technology waves and also the transparency in transaction as compared to the conventional system.

Go to https://steemworld.org and locate the Steem Genesis Block (You must provide screenshots and sign in as proof of completion).

Step 1
Go to Google page, then visit the url -https://steemworld.org/ as shown below

Step 2:
Then click on the Block Explorer option as shown below

Step 3:
Clicking on the block explorer will take you to a pop out page were you click. on the OK option as shown below

Step 4:
This will take you to another new page were the block details are displayed as shown below

Step 5:
Then swipe the screen to the right so as to access the Sign in option and then click on it as shown below

Step 6:
Once you click on the sign in option, it will take you to a page were you will input your street username and password and then click on OK option as shown below.

Conclusion

Genesis block of a blockchain is truly the beginning or the beginning. It is the origin to which cryptocurrency has come to be. It is a beginning to which block chain technology is a reality. Genesis block has birthed the a better financial system....kudos and all thanks to Natoshi...
It was quite an interesting and wonderful lecture as presented by Professor @awesononso