Steemit Crypto Academy | Season 3: Week 2 || The Genesis Block: The Beginning of the Beginning || Homework post for @awesononso By @kaydee009

I used PowerPoint for the picture above.

What is the Genesis Block of a Blockchain.

The blocks are like cells which are interconnected which each other to form tissue. But in this context the block of the the blockchain contain information or hash about the blockchain. These information include timestamp and transaction data. The blocks connects together to form a blockchain.
The genesis of block of blockchain is the mother of all block. It was the first designed block which has no previous record and and data. The genesis block is also called the block0 but some also refers to it as block1. To build a blockchain, information on the genesis block is used to generate other blocks; this is why I refer to it as mother of all blocks.
The numbers attached to the blocks refers to the size of the blocks or the time in existence. These numbers are also referred to as block height. The genesis block represented as block0 or block1 indicates it’s the earliest along the the blockchain.
The genesis of blockchain simply is the base on which other blocks are developed to form a blockchain. It has no references and it’s represented as block0 by others block1.

source
The picture above shows a blockchain and how they are interconnected with each other.

Write on the Bitcoin Genesis Block and its significance.

Bitcoin became the first successful cryptocurrency which was developed by Satoshi Nakamoto which was designed to work as a medium of exchange.
The blocks as explained in my first answer are files which are used to store data about the blockchain and cannot be altered by anyone; these files include timestamp and transactions. Every block have certain storage capacities and, when filled , are chained onto the previously filled block, forming a chain of data known as the blockchain.
Bitcoin Genesis Block is the name of the first block of Bitcoin mined. In the year 2009, Satoshi Nakamoto developed and created the Genesis Block which served as the base for Bitcoin trading system and its the mother of blocks in the Bitcoin blockchain. The first Bitcoin mined was 50BTC which was sent to an address which remains untouchable.
Usually takes 10 minutes, however Satoshi Nakamoto created the genesis block of bitcoin over the course of six days, from January 3 to January 9, 2009. It remains ambiguous why this 1st ever block was closed so long (6 whole days), but people, even the majority like to believe that the bitcoin developer wanted to ensure that the Bitcoin network works as perfectly, properly and that the genesis block was perfect, because this is the beginning of how everything started. It was complicated, since an unusual situation arose when individuals uncovered Satoshi's concealed sentence referencing The Times newspaper, which was discovered in coded form on the coinbase timestamp parameter of the Bitcoin genesis block.
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"
People analysing the invention of Bitcoin and also the coded message, they came up with an idea that Bitcoin was created to give people the benefits they couldn't get from Centralized financial organisation.

Three Significance of the Bitcoin Genesis Block

• Genesis block is the first ever block that existed in the history of Cryptocurrency mining. Since then it gave birth to other cryptocurrencies.
• Bitcoin genesis block became a model, sample of how data will be stored which other blocks generated under Bitcoin network takes after, and link up with afterwards to become connected blocks to form blockchain which it content cannot be altered.
• Blockchain system has become an integral part of cryptocurrency and has become useful everyday because of success of Bitcoin. So many platforms, networks and application were built on blockchain, and this started happening after Bitcoin was invented and her continuous growth after the Genesis block.
• The Bitcoin genesis block has also brought about transparency, solid accountability, and unrivaled honesty, which has been lacking in centralized institutions like banks.

Go to https://steemworld.org and locate the Steem Genesis Block (You must provide screenshots and sign in as proof of completion).

Every cryptocurrency has it own Genesis block. Steem Genesisblock is known as Block1. As steemit users there are few steps to follow if a user wants to check the details of the “SteemGenesis Block”.

• Go to https://steemworld.org on your browser to open the steemGenesis block
• On the right top corner of the page click on sign in
  You’ll be required to enter your username and private posting key and click on “ok”

In the steem block chain tool click on “block explorer”

Enter block1 and click on “ok”

A page opens showing the details of the SteemGenesis block

CONCLUSION

The bold step of Satoshi Nakamoto took change the lives of millions in the world. The development of the GenesisBlock of Bitcoin led the way for other cryptocurrency to be developed. Creating a safe and secure platform for transactions to be made without any external intruders. I’m very excited to learn more about blockchain from the lectures sir @awesononso gave us. It’s amazing learning from you.