Steemitcryptoacademy | lesson 3 week2, repost of last lesson that was not curated | permitted by professor @awesononso
Hello stemians it’s was a new lecture from the professor awesononso. and a new week for cryptoacademy I have attended the class and here is my home work submission post thanks for reading through.
What is the Genesis Block of a Blockchain.
Genesis block is also known as block 0 because it is the first block in a chain before other blocks are added. We all know that blockchain consist of several blocks and they store information about transactions that occur on a blockchain network. The other blocks are attached on top each other while the genesis block being their starting point.
In addition, blocks contain digital data concerning transactions on the network which is recorded continuously. That is to say a block is like a ledger (a ledger is a record book). So when ever a block has ended ,it allows the next block in the chain.
Since the genesis block is 0, the next block on it is 1, The block1 was not mined until its was up to 6days after block0 (genesis). It was seen as odd as a result of time factor. The average time stamp gap between blocks was calculated to be around 10munites.
Write on the Bitcoin Genesis Block and its significance.
Bitcoin was created around 2009, by some one who refused to make its self known but is called satoshi nkamoto. When the block0 was released which is known as the original block it contained 50 Bitcoin first onto source-forg.
The developer satoshi left a message in the code of the block which does not have any details because he did not state clearly what the message is however, many people explained it that satoshi developed Bitcoin because he wants to remove middle men, third parties in the banks as he saw them as being corrupt and not trustworthy.
Since the original block contained 50bitcoin people as of that time are sending btc to the Bitcoin address as a way to honor satoshi. Mining genesis block them was easy and had a high reward of 50 Bitcoin while the reward for mining a block now is 6.25btc.
Genesis Miner Wallet: 1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa view here
Genesis Hash: 000000000019d6689c085ae165831e934ff763ae46a2a6c172b3f1b60a8ce26f view here
Markle root: 4a5e1e4baab89f3a32518a88c31bc87f618f76673e2cc77ab2127b7afdeda33b
Difficulty: 1.00
Nounce: 2,083,236,893
Bitcoin Genesis Block and its significance.
The major significance on genesis block is TRUST if not for genesis block it would have been hard for miners to trust a blockchain the genesis block stand as a starting point which everyone can trust.
Go to https://steemworld.org and locate the Steem Genesis Block (You must provide screenshots and sign in as proof of completion).
Firstly you visit https://steemworld.org/
- click on sign in
- put your user name and posting key
- After a successful login page will open were you will see block explorer click on it
- impute number 1in the block box after clicking the explorer.
After that them steem block chain will display
- them you will see it fountains the time stamp, block Id, witness, previous I’d etc..
Hello, please include the review of the original post and include the hashtag #awesononso-s3week2.
Thanks!
I have done that professor @awesononso
the review by the professor