Steemit Crypto Academy [Beginners’ Level] | Season 3 Week 2 | The Genesis Block: The Beginning of the Beginning by @marianaceleste

A big greeting to all the community that is part of Cryptoacademy. This is my second week of participation, and I hope to do much better than the previous week, always following the suggestions and parameters of the great teachers who work hard to teach us the basic tools to venture into this world.

Without more to add, I begin:

_{Image edited by @marianaceleste in canva application}

I think it is important to first clarify what is the "Blockchain", its name refers to a "block chain", they are databases that are connected between nodes or main points (miners) through its HASH (transaction code), where all the information of the transactions made in that block is stored, information associated with that block, and its way of linking with the preceding block and the block that follows it.

_{Image edited by @marianaceleste in canva application}

This is a very complete ramification, which also allows the creation of other cryptocurrencies under the same basis, but with a different algorithm, which makes slight changes in their characteristics.

It is convenient to clarify that this technology (blockchain) is decentralized, there is no central management point, but each connected node manages the existing transactions. So, if any of these nodes were to present a problem or crash, the rest would continue to function. The information of what happens in one of the blocks is transferred to the rest so that each block has its own "accounting" record of transactions.

Having said all this, I proceed to answer the question:

What is the Genesis block of a blockchain?.

It is the first block of the blockchain, this has no previous information from any predecessor block. It is also called "Block 0" or "Block 1" for certain blockchains. This block works as a connector between the nodes involved, i.e., two nodes can have a connection only if they start from the same Genesis block, otherwise this connection would be impossible.

We can also associate this term to a small seed, where the branches are the nodes.

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In other words, it is the "Bing Bang" of cryptocurrencies, that is, where the life of these digital currencies originates.

_{Image edited by @marianaceleste in canva application}

This was patented around 2008 but it was not until January 3 of 2009 that Satoshi made the first transaction which can be visible to everyone, because cryptocurrencies have that everything is absolutely transparent and irreversible.

On the other hand, it is assumed that the wallet address to which the transaction was made is Nakamoto's, but until today that money has remained there (a total of 50 btc), it has not been withdrawn. In fact, today it has a larger amount because many people who make a living in the world of cryptocurrencies have sent them gifts as a way of thanking them for having created this technological invention.

If we enter the wallet number: 1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa supplied by the teacher @awesononso to the BlockChain platform we can see the transaction information

_{Screenshot taken by @marianaceleste at BlockChain}

_{Screenshot taken by @marianaceleste a la BlockChain and edited with the canva application}

It is said that this person, whose identity is a mystery, created this new technology to face the economic crisis that was arising at the time and also to give a blow to the conventional centralized economy where governments and banks have absolute control of everything.

In addition to the mystery of his identity, he left a hidden message on Coinbase (the first transaction on the blockchain) that was about a newspaper headline attributed to Satoshi's involvement with the creation of bitcoin.

The creation of this technology has been very significant for the modern era, as it marked a before and after in the lives of many people who bet and continue to bet on cryptocurrencies. Likewise, more and more people are joining this world of Blockchain and all this economic revolution was possible thanks to Satoshi with that Genesis block that allowed to generate a profound change in the development of the world economy.

_{Screenshot taken by @marianaceleste a la SteemWorld and edited with the canva application}

_{Screenshot taken by @marianaceleste a la SteemWorld and edited with the canva application}

_{Screenshot taken by @marianaceleste a la SteemWorld and edited with the canva application}

Translated with www.DeepL.com/Translator (free version)

I am deeply grateful to Professor @awesononso for his clear, precise and concise explanation of this class on the beginning of the blockchain world. I understood everything in a very practical way.

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I invite you to get to know me

All the content of this text is authored by @marianaceleste, with original stamp for the steemit platform.

The banner and images were edited with the canva application by @marianaceleste.