[ SEASON 3 | Week 2 ] Steemit Crypto Academy Homework Post for @awesononso | The Genesis Block: The Beginning of the Beginning |
Hello friends .... !!!
Meet again with me Ichsan Angga P on this Steemit Crypto Academy Homework Season 3 Week 2.
Today I will finish my homework About The Genesis Block: The Beginning of the Beginning given by professor @awesononso.
What is the Genesis Block of a Blockchain ?
As we know that Bitcoin was created by Satoshi Nakamoto in 2009, Satoshi Nakamoto created Bitcoin using a system called “Genesis Block”.
The Genesis Block on the blockchain is the first Block to exist on the Blockchain, and it is also the basis of the blockchain. As we know that every block successfully mined by a miner on the Blockchain network will always be associated with the previous block, but the Genesis Block is different, it will not be associated with the previous Block, because it is Block 0 or the origin block. every coin. And what you should know is that the prizes given to the Genensis Block cannot be withdrawn. Looks like you participated in donating your Bitcoins to the Genesis Block network
There is an important thing that you should also know about this Genesis Block fact, where the Genesis Block on the Bitcoin Blockchain was first successfully mined by Satoshi Nakamoto, who managed to own 50 Bitcoins from the results he mined with Genesis Block, and the Bitcoin could not earned or even irrevocable, it is the first 50 Bitcoins to be mined using the Genesis Block so these are the first 50 Bitcoins and are also Bitcoins that will settle permanently.
Write on the Bitcoin Genesis Block and its significance ?
So as I said before, the Bitcoin Genesis Block is the first block, where Satoshi Nakamoto was the first person to successfully mine 50 Bitcoins with Genesis Block on the Blockchain. From this Genesis Block, the Bitcoin network started working on the Blockchain system perfectly until now.
So in the process of mining the first Genesis Block on the Blockchain carried out by Satoshi Nakamoto it was successful, Satoshi did a break or stopped mining for 6 days, don't know why the 6 day stop was after the Genesis Blok was successfully executed, and until after running for 6 days, then The next mining run starts again, with an average time of around 10 minutes mining on the Blockchain.
Because of the 6-day pause in the process of the emergence of the first Genesis Block, people began to ask whether the 6-day period from the success of the first mining was a test carried out by Satoshi Nakamoto in developing this Genesis Block, which was after he succeeded in developing the Genesis Block and testing it only then did he announce to people around the world that Bitcoin was ready with an excellent system. But there is no clear fact that reveals this until now.
Therefore, the first mining process is still being questioned by all people in the world who have been involved in the world of cryptocurrencies, because there is no clear information regarding the Genesis Block Mining, some say it was done by Satoshi Nakamoto and some say it was done by an unknown person, so until now the mystery would be a big question for cryptocurrency traders.
The significance of Bitcoin Genesis Block ?
So we will try to see how important the Bitcoin Genesis Block is to the current Cryptocurrency world, namely:
Since the genesis Block is a First Block, this makes it an example of a system that performs well, from data storage happening, to the creation of another Block in the Blockchain network on Bitcoin.
With the Genesis Block in Bitcoin, the world community believes that a financial system that is very good and has good performance does not require a third person to carry out transactions.
With the advent of this Genesis Block which is the Basic Block or even the first Block to appear in the world of cryptocurrency mining. Making it an example against Blockchain on other Coins.
With the Genesis Block currently driving Blockchain, the cryptocurrency world that started with Bitcoin first emerged using the system that managed to make the world's eyes fall on it and make it a good guide in the creation of other platforms.
So from the appearance of the Genesis Block in today's world, it made it a start that until now has made the Genesis Block a role model because of the system that works so well.
Go to https://steemworld.org and locate the Steem Genesis Block (You must provide screenshots and sign in as proof of completion).
So here we will try to enter https://steemworld.org and try to see about the Genesis Steem Block, so I will give the steps so that friends can understand it, so as follows:
- The first step you have to do is enter the following link, you will automatically enter the website, and after that you can click sign in to your account, as shown below.
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- At this stage you must enter your STEEM account, and also enter your private code so that you can access SteemWorld, as shown below
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- After you enter the account that you have, the next step is that you enter Block Explorer, by clicking on it, as shown below
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- So after you enter Block Explorer, a screen will automatically appear for Searching Block Number on your account, here I choose Block Number 1 for me to see, as shown below
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- After that you will be automatically directed to information related to your first Steem Genesis Block, as shown below
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So those are the steps so that you can check the information on the Steem Genesis Block in your account.
Conclusion
So the conclusion we can draw from this task is that the Genesis Block is a basic Block that was first successfully mined by having all the advantages over its system, and from the first Genesis Block, all emerging cryptocurrencies adhered to that system in their manufacture. Until the benefits that Genesis Block has regarding the financial world which proves that without an institutional bank, financial transactions will continue to run well and have transparency of transactions that occur.
Last word
That's the task that I have completed from professor @awesononso regarding The Genesis Block: The Beginning of the Beginning In completing my assignment, I realize that there are still many meanings that are far from perfect, therefore I apologize to friends if there are still many mistakes, and hopefully friends will be happy to give good suggestions or input on my posts.
Thank you all, I hope this post can help you all to understand more about The Genesis Block: The Beginning of the Beginning.
Hello @ichsanagih,
Thank you for taking interest in this class. Your grades are as follows;
Feedback and Suggestions
You should try to be a little clearer in your statements. Some statements were not really easy to understand.
Always double check your work for errors. Some words or statements really do not fit and might be editing errors.
You should have really explored more on the Bitcoin Genesis block. There is a lot of valuable missing information.
Thanks again as we anticipate your participation in the next class.