Steemit Crypto Academy Season 4 Beginners' course - Task 3: The Genesis Block @bubbling

Today, I'm starting the new assignments of the Crypto Academy Season 4 for Beginners' Course created by professor @awesononso. I would like to thank all the professors for the curriculum and new season courses.

The subject of assignment;
1a) What is the Genesis Block?
b) What are the significances of the Genesis Block?
c) Explore the Bitcoin Genesis block and indicate how many transactions so far and the number of bitcoins.

1a) What is the Genesis block?

Genesis block or start block means the first block of a blockchain. Its other name is the zero “0” block. The Genesis block has almost always been hard-coded into the software of applications using the blockchain. A blockchain consists of blocks used to store information about transactions taking place in a blockchain network. Each of the blocks contains a unique header, and each such block is individually identified by its own block header hash. These blocks are layered on top of each other based on the Genesis Block and grow in height until the end of the blockchain is reached and the row is complete. The layers and deep history of each directory are one of the things that make a blockchain-based cryptocurrency so secure. On January 3, 2009, Satoshi Nakamoto released the first block.

1b) What are the significances of the Genesis Block?

• The Genesis block is the first link of the blockchain, so other blocks have structures associated with the previous block. Only the genesis block bears the traces of how the chain will continue. Genesis blocks can give direction to all the variables needed to build the foundation of transaction blocks. However, this first block also bears summary information about the format.

• BTC, or bitcoin, which introduced the world to cryptocurrencies for the first time, is the owner of the first example of the Genesis block in the world. This crypto coin motivated the creation of other cryptocurrencies and in a decentralized design too. In today's world, there are currently over 10,000 cryptocurrencies and they all began with the Genesis Block.

• Bitcoin, as the first successful digital currency “First Generation Blockchain". Thanks to its structure, it started to rise against today's financial order in a very short time. Thanks to this situation, the Blockchain applications have increased in time. They used to solve many problems around the world.

1c) Explore the Bitcoin Genesis block and indicate how many transactions so far and the number of bitcoins.

BTC's Genesis block is created by Satoshi Nakamoto. The reward amount of the first block was exactly 50 BTC. However, Nakamoto, the creator of bitcoin, created these 50 BTC as locked to spend and use. These 50 BTC, which can never be spent, are in Satoshi Nakamoto's account. To view this block, you can check this link

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Here you can find the hash address;

000000000019d6689c085ae165831e934ff763ae46a2a6c172b3f1b60a8ce26f

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Here you find the Block reward for this block was received in this wallet address; 1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa

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At that time, there are more than 50 BTC available and 68.52179725 BTC from 3,034 transactions.

The last transaction was sent to this block was yesterday the 2021-09-12 at 03:29 and 0.00184428 BTC was sent.

Conclusion

While preparing the homework, I learned many things about Genesis Block. I hope you also enjoyed and learned while reading it. Special thanks to the professor @awesononso

Best regards,
Aslı