What is the Genesis Block of a Blockchain.

ANSWER

What is Blocks in blockchain?

Blockchains are made up of several linked blocks. Recorded information is a block. The whole leaflet, that is the whole record keeping book, is blockchain. This is assumed like a ledger page.
Blocks contain files which store unchanged network data.
For instance, blocks retain all information with regard to cryptocurrency transactions. This blocks will be hacked into a hash tree.
The cryptographic hash of the previous block is present in each block in a blockchain. The blockchain is a block plus all the blocks that have been preceded and followed.

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What is the Genesis Block of a Blockchain

A Genesis Block can be defined as the initial, first, original block of the blockchain.
There are projects that call it Block 0.
The Genesis Block is usually hard-coded to the software of the network application. This unique block has no previous block linked i.e it is the first block on the blockchain (there has been no block before this block.)
Do not mistake the phrase with the first transaction generated in a block. The generational transaction is created by a miner, while the first Block in a blockchain is the genesis block.

Write on the Bitcoin Genesis Block and its significance.

ANSWER

The Bitcoin Genesis Block was the first block mined on the bitcoin cryptocurrency blockchain by Satoshi Nakamoto, the cryptocurrency's founder, in January 2009. The genesis block, which was mined, had 50 BTC, and the block's uniqueness is that the coins contained it cannot be spent (It is impossible to translate it to any Bitcoin addresses).

Normally, each block generated in the Bitcoin blockchain usually takes 10 minutes, however Satoshi Nakamoto created the genesis block of bitcoin over the course of six days, from January 3 to January 9, 2009. It remains ambiguous why this 1st ever block was closed so long (6 whole days), but people, even the majority like to believe that the bitcoin developer wanted to ensure that the Bitcoin network works standardly, properly and that the genesis block was perfect, because this is the beginning of how everything started. Block of being was giving to the first block for a tangible reason.

It was complicated, since an unusual situation arose when individuals uncovered Satoshi's concealed sentence referencing The Times newspaper, which was discovered in coded form on the coinbase timestamp parameter of the Bitcoin genesis block.

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

People analysing the invention of Bitcoin and also the coded message, they came up with an idea that Bitcoin was created to give people the benefits they couldn't get from Centralized financial organisation.

Significance of the Bitcoin Genesis Block

• Genesis block is the first ever block that existed in the history of Cryptocurrency mining. Since then many Cryptocurrency has been following through similar step.

• Bitcoin genesis block became a model, sample of how data will be stored which other blocks generated under Bitcoin network takes after, and link up with afterwards to become connected blocks [blockchain].

• Blockchain technology is becoming more useful everyday due to the success of Bitcoin. So many platforms, networks and application were built on blockchain, and this started happening after Bitcoin was invented and her continuous growth after the Genesis block.

• The Bitcoin genesis block also establishes a heritage of transparency, solid accountability, and unrivaled honesty, which has been lacking in traditional financial systems.

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

ANSWER

From your browser, lunch https://steemworld.org to locate the Steem Genesis Block.

• From the top right corner of the page, click on Sign In
• On the little box provided for signing in, write your steem username (without "@").
• Write your password in the provided space
• Click on Ok.

Now, your are logged in successfully.

• Now, click on Block Explorer

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• The steemit Genesis Block is called Block 1.
  Leave "1" in that provided space.
• Click on Ok
  Now you can see the Steem Genesis Block.

CONCLUSION

Genesis Block is where everything started with Bitcoin and through which every other Cryptocurrency took advantage of, learn from, developed from and followed the path.
These blocks resulted in other blocks in the Bitcoin network and connected together bro later form a chain.
Now the Cryptocurrency world is enjoying transparency, honesty, all thanks to the success of Bitcoin which began the history after the first ever block it created (The Genesis Block)

Thanks to Prof @awesononso for this week's lecture