SEC-S19/W2 | Exploring the Genesis Blocks

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Explain the importance of the Bitcoin genesis block and describe its contents. Discuss the message hidden in the genesis block and its impact on the birth of Bitcoin.

First of all what is meant by Genesis block, it consist of unique series of features and its the first one block and its highly different from the last block created. Its called the initial block as there is no block existence before it its primer, therefore its further coded into hard so that it may serve as initial point.

Now cones towards Bitcoin Genesis on January,3 2009 a block was minded called and recognized as 0 block its name bitcoin Genesis. The founder was Satoshi Nakamoto and in this way first origin of cryptocurrency takes place.

The process of Bitcoin was consider the most significant technical element so that next parameters may launched further and whole process designed by Nakamoto.

The block reference was firstly publish in London newspaper by heading and dated on 3, January 2009. In the way Nakamoto started a series of bitcoin mission and it was initiation of established the decentralized system in preference to financial system.

Hence for the very first time the Genesis block was being launched and mined techniques were utilized by Satoshi Nakamoto. Passively issues were handled as compared to that era.

Finally all the blocks were build on the hash which were required for Genesis block, subsequently the chain started link to each other through block.

Contents

The first component is the block number,it describe the height of block its the indicators of how much blocks are preceded. Its value is 0 as there is no block before Genesis block.

In next step a previous hash as it enabling the joined the previous block meta data came through the transaction, so the generation of previous hash formed by the process of cryptographic algorithm.

As we knew that there is nor prior block this field didn't have anything to be filled.

The last component is the data, as block containing the many transaction data such as timestamp, block number and Merkel tree roots which are sequences of blockchain.

Discuss the message hidden in the genesis block and its impact on the birth of Bitcoin.

The origin of Genesis blockchain has chief role in the World of blockchain hence its the pioneer and started new revolution in the World of peer to peer and decentralized established networks.

As various the introduction of Genesis block become a trade mark and evenutaility and definitely it has gram eat impact in the world of cryptocuurncy.

In 2009 obviously the bitcoin Genesis block become a major sale and become the chief source which were represent the Bailout of Government and Banks and new series of trading.

Compare and contrast Ethereum's genesis block with Bitcoin's. What are the specific elements of the Ethereum genesis block, such as pre-funded accounts and smart contracts?

In mining of Etherum Genesis block was started in year, 2015, it further lay down the foundation of etherum blockchain. The per-scsle was ealiar used by adopter's for maintaining initial supply and further allocate.

Fourthermore, before the merging the Genesis block was not introduce as PoW consensus model and regards as isloted part of ETH protocol.

Hence the BTC and ETH Genesis block vary in many ways from each other most significant is the earliest method of token distribution, it enabled the investors to buy Etherum and lastly the as the network gone live the ETH native cruptocurency.

If we see differences few more striking features the ETH represent more than the start of new blockchain. Because it introduce the birth and concepts of self execution digital agreement that is smart contracts which ultimately paved towards the dapps (decentralized applications).

Hence the introduction of ETH overcome the challenges which were faced in BTC the most significant was the peer-to peer cash system which was electronic.

While the ETH has more prgoramming versatility as it has capacity to support large number of dapps deals the financial issues and much more.

By the released of smart contracts power we have seen a new era of progress in term of Dapps which obviously proved fruitful for the adopters to used the application in order to more security and high transparency and there is no need of intermediate. While all such obstacles were part of BTC.

Use a blockchain explorer to find details about Steem's genesis block. What are the main components and transactions in this block? Provide screenshots and links to the browser used.

I will use https://steemworld.org/ To explain the block explorer. I open the desired explorer and it will appear like this.

Screenshot from steemworld

You can see the block explorer I have highlights it with red arrow to make it easy for understand.

As I click on block explorer here appearance of block number and I click OK to confirm it.

As I click OK here the complete detail of block will be appeared automatically as you can see in the screenshots.

It seems valid as it shows complete detail such as timestamp, block I'd, previous I'd, sign in I'd, witnessed, transaction Merkel root and extenstion etc.

I click on transaction where I can see the complete detail of voter, bote weight including permanent link of the contents and its more elaborated detail of any transaction.

Compare the genesis blocks of Bitcoin, Ethereum and Steem in terms of goals, underlying technologies and communities.
Practical Question: Creating a Genesis Block Guide

I will discuss the comparison of Genesis Blocks in Bitcoin, Ethereum, and Steem.

Bitcoin	Etherum	Steem
The aim of Bitcoin for creation of decentralized currency	creation of a decentralized app for smart contracts and related Dapps	set up for decentralized social media app where users can share your quality contents and rewards can be given
Abolish the old financial system and development of Bitcoin as a new currency of Highly decentralized	there is no hidden embedded message but only works on Smart contracts networking	worked on establishment of social media interaction among users and stable community based on rewards too?

What are underlying technologies

Bitcoin	Etherum	Steem
It works on proof of work, using hash algorithm SHA-256 and the estimated time for block is 10 minutes	It works with proof of work and then transit to proof of stake with ETH 2 while estimation for block time 10 seconds	Delegated proof of stake and had hashtag SHA-256 and block estimated time only 3 seconds

The overview of communities

Bitcoin	Etherum	Steem
The adopters who follow it were mostly who wanted to get rid from old financial system, it worked on more decentralized secure system	Mostly adopt by users in dapps, Defi and NFTs	The bloggers and content creators

The Practical Guide for creating a Genesis Block
Here are few steps which should be follow for creation oglf blockchain.

• First of all, what is the main aim of blockchain and the smart contracts are how the contents can be created and the best way of content creation.
• Aware about dapps, PoS and Pow etc according to his need.
• Knowing about the transaction time and format and the ideal communication techniques.
• Introduction of token initiative and distribution of token, and also aware of custom code of blockchain for block Genesis.
• Initiation of of blockchain for validation by nodes.
• Making a clear understanding of block Genesis importance while knowing primary parameters.

Write a practical guide explaining how a newcomer can explore and understand the genesis block of a blockchain, using examples from Bitcoin, Ethereum and Steem.

Bitcoin Genesis block

This is a very interesting question about how we can make it easy for the new comer to explore and Genesis lock and using practical examples I will try liberate so for, we should know the Genesis block basic information and after that I talk about the Bitcoin Genesis block so fast we should know some history it was invented in 2009 on January 3rd Satoshi Nakamoto.

Blockchain explorer you can simply use the website blockchain.com or you can use blockchain.info.com or you can use the blockchain.com.

When you will be is that website you will get to know what things you are needed to put in this website so firstly you need to set from zero.

You need to know all the information about that transactions and you should have basic knowledge about all the summary of transactions as well as the time.

Nonce which is called the number you have been using for mined, and after that you should also know about very well known text which was type was The Times 2009 on the third of January chancellor which was on break of second bail out. In this way you will get to know all the information how the people are instructing online and you will got to explore everything.

Ethereum Genesis block

There are many websites which you can check for example etherscan.io and what do you need to do is just open your website and type for block zero which is also known as block first This is more simpler to use and then firstly there is no text you need to type Basically this is the prefunded initial accounts which you made.

I will simplify This means you have given certain initial account balance to just get start the connections just like we are starting any new business and we are investing some money over each to get benefit this was invented in 2015, 30th of July.

You need to be careful about the exact time of initial transaction with the dad once you enter you can't change it so you should type one and another important thing is that you should be careful about how hashes are used. This is actually giving us foundation for a solid entry into technology exploration.

Steem Genesis block

Now steem is one of the platform which has been you know very famous and a lot of people from different countries are using it and even earning from post to board quality content and this was basically created on 2016, 24th March.
I think this is one of the website which is really very easy to use but honestly when I start working I really don't have any idea but many of my seniors help me out.

So for the Genesis block steem we need to know about the tokens of the steem who are given to the particular people you are really doing great and posting quality content.

When you are going to explore the Genesis block you need to follow certain steps as I already mentioned for other examples whatever I am explaining every blog has a certain kind of hash which you must master it.

Then you need to look for any specific kind of text or message is already there or not and then you should also know some previous history as well and after following all the steps and the date provider whole and for new comments actually and they can get information about the all of three examples.

Its all about my today's post.

I would like to invite my friends @m-fdo, @jannat12 and @mesola to take part in the challenge.