I am extremely happy to submit my first assignment in crypto academy. I am @msquaretwins, I have been looking for the right time and opportunity to join steemit crypto academy and to participate in the seasoning class offer by awesome crypto professors since I joined steemit. Thank God, the right time is here😁 Firstly, I want to thank professor @awesononso for doing justice to the topic, *"The Genesis Block: The Beginning of the Beginning"*. I must confess that he really explained the topic and I understand every part of the lecture. Thank you, Prof.

THE GENESIS BLOCK OF A BLOCKCHAIN

What is the Genesis Block of a Blockchain?
Everything in life start from somewhere. A well that has water has it beginning. The technology of a telephone has it own source. Even the world we live in is not without origin or beginning. So also it is for a Blockchain, it started from somewhere. But, to fully understand the genesis block of a blockchain, we have to consider these three key factors;

1. Genesis

2. Block

3. Blockchain

4. Genesis simply means the BEGINNING.

5. Block is a solid material such as rock, mud or wood. It is usually flat with a rectangular or square shape. The block in a blockchain can be liken to a block that is used in building in the sense that it gives way to the next block to be laid.

6. Blockchain: Based on my understanding, blockchain could be view from this two words; "BLOCK" and "CHAIN" which could be describe as technology that is connected together in a chain in which transactions are kept.

From the understanding of the aforementioned key words, I can say the Genesis block of a blockchain is the first block of a blockchain. This block, like a chasis of an automobile which serves as a foundation upon all other parts are mounted also perform similar function. It serves as a foundation for all other blocks. Also the genesis block is also known as block 0, although, some blockchains refer it to block 1. This will lead us to bitcoin genesis block.

BITCOIN GENESIS BLOCK AND ITS SIGNIGICANCE

Before the existence of cryptocurrency, the system that is used for trading is centralized system. Fiat money is used as a medium of exchanged. But in 2008 a white paper is published by someone or some people who promised a decentralized system of trading; trading that will not be controlled by any government policy in the world.

Interestingly, on January 13, 2009, the first block of a blockchain was initiated by an anonymous person. Bitcoin block is regarded as the genesis block of a blockchain. It is the first block developed by someone or some people called Satoshi Nakamoto. The first man to be created according to the scripture is called Adam. So it not bad if we regard bitcoin block as Adam of all existed blocks. The first transaction performed on blockchain on January 13, 2009 gave rise to block 0 which is the Bitcoin Genesis Block.

Mining was done on genesis block as we do to new block today. It was a bit easier and profitable then than we have it today. The reward for mining the genesis block was 50BTC then as seen in the screenshot below unlike today. Today the reward is around 6.25BTC.

^Image
Source

The hash for the genesis block is 000000000019d6689c085ae165831e934ff763ae46a2a6c172b3f1b60a8ce26f
This can be view in the image below

^Image
Source

The first transaction was a coinbase transaction and it was performed at exactly 19:15 on the set date which was sent to the address below.
1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa
Details of the transaction is attached as a screenshot below.

^Image
Source

Now let's move to the Significance of the first block.

Significance of Bitcoin Genesis Block
The development of the Bitcoin Genesis block has revolutionized the entire word. The importance of this can never be overemphasize as it poses many significance in the world of trading. These are few benefits of Bitcoin Genesis Block

★ It serves as a building block to all other blocks: Bitcoin Genesis block, being the first block serves as a foundation upon which all other blocks are laid. It can be said as a strength of all blocks. It also gives criteria to be met for every other block.

★ It break barrier of Government policies in Fiat money: The bitcoin genesis block was the first block that broke the idea of government unnecessary policies of controlling fiat money. Thanks to Satoshi Nakamoto through whom this great development came about.

★ Quick Transaction: As a result of the Bitcoin Genesis block, transaction has become a lot very easy in the world of trading. Being decentralized system of trading, transaction can be done at any time of the day unlike transaction performed in the centralized system.

★ It Influences Lives: During the early days of Btcoin, people were allow to mine it. And so many people invested in it by buying it as low as possible. Today, 80% of these people have become rich as a result of the mining and the investment done on bitcoin few years ago. I will not be sugarcoating it to say bitcoin has change many lives and still changing lives.

LOCATING THE STEEM GENESIS BLOCK ON https://steemworld.org

The steem genesis block was created on 24th of march 2016. This block can be found in steemworld. steemworld is one of the steem tool. To locate the steem genesis block, go (https://steemworld.org)
The click on the "Block explorer" The circled icon on the screenshot below

^Image
Source

After this, page will be displayed for you as seen in the screenshot below. Click "ok" for block 1

^Image
Source

After this, you would be able to see some information about steem block as displayed in the screenshot below

^Image
Source

Then, go ahead and click "sign in" at the upper corner of the website as seen in the screenshot above. Then input your username and your posting key as seen below. Then click "ok" to sign in

^Image
Source

Then when you sign in, you will see your username and profile picture above.

CONCLUSION

The beginning of a thing is not known unless traced back to where it started. And every good and promising beginning is always as a result of hard labour and focus put in place at the beginning. The genesis of bitcoin block could be talked about today because of the hard labour of someone or some people. The bitcoin has really shaped the world of trading. Special thank to the Satoshi Nakamoto and my dear Prof @awesononso for bringing this great topic up at a time like this.