Repost - Crypto Academy Season 3 Week 2 Homework Post for @awesononso Submitted by @awakpasnas
This time, I want to make a homework post that will answer professor @awesononso from Steemit Crypto Academy, as the homework is to answer some questions given by our professor.
[A] What is the Genesis Block of a Blockchain
The Genesis block is the origin of the blockchain network. We know that blockchain is a chain of blocks that are tied to each other and the genesis block is a block that was first created in the blockchain network system.
Initially, the genesis block was named block 1. However, with the development of blockchain technology, the genesis block is now called block 0 , this naming has changed because now many people think that the genesis block is a special block and cannot be equated with other blocks. is the "mother" of the chain of other blocks created to date and does not refer to any block.
There is one characteristic commonly found in the genesis block, the reward obtained by mining from the genesis blockchain block cannot be withdrawn or traded, this is because the genesis block is an experiment carried out by the blockchain developer to ensure that the blockchain system runs smoothly.
[B] Write on the Bitcoin Genesis Block and its significance
Bitcoin Genesis Block is a historic event in cryptocurrency, this is because it is the first block created in the blockchain network, this block was created by the inventor of Bitcoin who has a pseudonym Satoshi Nakamoto whose real identity is unknown to anyone, he is a figure who is still mysterious to date. To show the details of the bitcoin genesis block, I will show you a screenshot I took from the Blockchain.com website which looks like the image below:
We can see that the hash of the bitcoin genesis block is 000000000019d6689c085ae165831e934ff763ae46a2a6c172b3f1b60a8ce26f.
This block was created on January 4, 2009 at 01:15 with a total block reward of 50 BTC. 50 BTC is the first Bitcoin as well as the first cryptocurrency created in the blockchain system.
Then if you look at the picture above, it shows that the 50 BTC was sent to a wallet with the address: 1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa.
And if we look at the details of the wallet address, we can see that there have been 2,945 transactions with a total of 68,449 BTC Bitcoins received. If we subtract 50 BTC from the first Bitcoin, it means that around 18,449 BTC was sent to the wallet. All of these BTCs are messages from various people who want to thank the figure of Satoshi Nakamoto who has created a very revolutionary network system.
Significance of Genesis Block Bitcoin
The presence of the bitcoin genesis block has a major impact on the blockchain system, including:
The birth of the bitcoin genesis block marks the birth of a new network system in the world, namely the blockchain network that is able to completely change the view of the financial world.
The bitcoin genesis block has become a guide for other blockchain systems to date, all of these blockchain systems take the bitcoin genesis block as their main reference.
With the successful creation of this bitcoin genesis block, people's trust in blockchain which is the newest network system will increase.
[C] Go to https://steemworld.org and locate the Steem Genesis Block (You must provide screenshots and sign in as proof of completion)
If you visit the https://steemworld.org website, you will be shown a page like the image below. Before looking for Steem Genesis Block, I signed in first which can be done by pressing the button on the sign in button at the top right of the page.
After that, I entered my username along with my private posting key, then just clicked on the "Ok" button.
After logging in, we select the "Block Explorer" option in the middle of the page.
After that, we will be asked to enter the number of the block we want to find, because I want to find the first block on the Steem Blockchain so I enter the number 1 and press the "Ok" button.
Then we will be shown the details of the block we are looking for, in the picture below we can see that the first block created on the Steem Blockchain or Steem Genesis Block was created on March 24, 2016 at 23:05 with block id 0000000109833ce528d5bbfb3f6225b39ee10086.
Witness who created this first block was an account with the username @initminer, he was recorded as the first account to successfully create a block on the Steem Blockchain system.
[D] Conclusion
A genesis is the mother of other blocks that continue to be created today on the blockchain network, the Bitcoin Genesis Block is the beginning of everything in the entire blockchain system. With the success of the figure of Satoshi Nakamoto in creating the first block on Bitcoin, it indicates that a new era has been opened, namely the era of the blockchain system that will defeat the old system that has been used for a long time and must be replaced with the latest system.
Thank you for reading my blog, hope it will be useful for readers.
I would also like to thanks professor @awesononso for creating such an excellent study like this.
See you in the next post!!
This is a repost of my previous post that has not been curated, the assessment from professor @awesononso is as follows:
The link of my previous post: https://steemit.com/hive-108451/@awakpasnas/crypto-academy-season-3-week-2-homework-post-for-awesononso-submitted-by-awakpasnas