Crypto Academy Season 3 Week 2 - Homework Post for @awesononso || The Genesis Block: The Beginning of the Beginning || by @daiky69
Hi guys! In crypto science we know various terms, such as bullish, bearish, sideways, uptrend, downtrend, and so on. However, those are all terms when analyzing and also the price movement of a coin, but do you know what the term is for a new coin that is starting to process the first block in the history of the coin? Yes, the answer is "Genesis Block". So on this occasion we will discuss about the Genesis Block.
I publish this post to do homework given by professor @awesononso, there are at least three questions that must be done for anyone who wants to take his class, among these tasks are as follows:
1. What is the Genesis Block of a Blockchain
2. Write on the Bitcoin Genesis Block and its significance
3. Go to https://steemworld.org and locate the Steem Genesis Block (You must provide screenshots and sign in as proof of completion).
1. What is the Genesis Block of a Blockchain
Basically the genesis block is the name for the world's first bitcoin block mining carried out by Satoshi Nakamoto, after that we use this term for other coins. Genesis block is the first block in the blockchain protocol, Genesis Block is also called block 0 because it is the beginning of the occurrence of subsequent blocks, genesis block is the prototype of all other blocks on the blockchain.
Everything that is new must have a beginning or beginning, humans will not exist without being born, cars, motorcycles, clothes, etc., will also not exist without being created, and whatever is created there must be a beginning in the process of creation. This also applies to bitcoin or other coins, the beginning is the process of creating the next things and this is the block. Genesis block is the beginning of the creation of the next blocks.
Block is a file where bitcoin network data is stored (or other coins not necessarily bitcoin) and also stores any transaction information permanently. When one block is complete, the block will provide a way for the next block in the Blockchain to record the next transaction, this does not apply to the genesis block because there is no previous block. The block will contain the cryptographic hash, timestamp, and transaction data of the previous block. The Genesis block will also load the previous hash but with the number 0 because there is no data processing before the genesis block, other blocks that occur after the genesis block have a sequence number starting from 1, and also have the previous hash.
2. Write on the Bitcoin Genesis Block and its significance
January 3, 2009 was a historic day for bitcoin, on that day Satoshi Nakamoto launched 31,000 lines of programming code which was then followed by the world's first 50 BTC, Satoshi Nakamoto announced via the internet about his virtual currency. Over time, people gave the name Genesis block to the first block that was mined by Satoshi Nakamoto on 3/01/2009.
The mystery that surrounds bitcoin is still unsolved until now, Satoshi Nakamoto even this is the pseudonym used by the inventor of bitcoin. Then the Genesis block is also shrouded in mystery because the first 50 BTC mined by Satoshi Nakamoto cannot be traded but can only be watched.
People began to question the genesis block code that Nakamoto did was deliberately created not to be traded or it was Nakamoto's fault, no one knows. But there are those who believe it was a mistake, there are also those who think that the genesis block was very well designed by Nakamoto and the first non-tradable BTC was planned by him.
The mystery of bitcoin doesn't end there because when the genesis block was first mined there was a ''Chancellor on brink of second bailout for banks'' which Nakamoto implanted in Block's raw data, this is a secret message written by Nakamoto and is still a mystery to this day. of those words. After taking 6 days to produce a new block and taking 10 minutes to distribute btc.
If we want to see directly all the code words that are processed during mining the genesis block, we can check it on the transaction input, said Hash Hex Sigscript is:
000000000019d6689c085ae165831e934ff763ae46a2a6c172b3f1b60a8ce26f
The Genesis block has given birth to other cryptocurrencies. The success of the genesis block has become a motivation for other programmers to continue to develop other cryptos, and this has been proven after the genesis block was born, thousands of other cryptos have also been present in the last 12 years.
High transparency and security in blockchain technology has made people start switching from banks to blockchain and this all happened after the genesis block which was so successful in programming and made people curious about it.
The Genesis block has also opened the door to our world in developing more Blockchain-based technologies with a guaranteed level of security and being able to manage one's own wealth with just a smartphone and no longer needing a third party.
Genesis block is also mentioned block 0 is a unique block that can not be confused with the next block, block 0 will dictate the next block.
3. Locate the Steem Genesis Block, you must provide screenshots
It's very easy to find the genesis block from steem, we just need to open the steemworld then click on the block explorer, we will immediately be taken to the genesis block from steem. @initminer is the first account to mine on steem.
1. The first step is to open steemworld, then login and click on block explorer to see the steem block genesis
2. After pressing block explorer we will see an interface like this, just click ok
3. And this is the world's first Genesis block steem
CONCLUSION
Everything will have a beginning as well as the genesis block. Genesis block is the beginning of a new era in independent finance without government intervention, Genesis block managed to amaze the world.
Genesis block is a block that forms the foundation and also bitcoin's agility in dealing with various kinds of problems, ranging from government resistance, etc. After the genesis block there will be the next block and so on.
The bitcoin block genesis is the most significant among other block genesis, because the birth of other block genesis is also thanks to the bitcoin block genesis.