Steemit CryptoAcademy Season3 Week2 Homework-post for Professor @Awesononso:Genesis Block.

A big hello to all my steemit family members and a special congrats to professor @awesononso, let's dive into today's presentation : GENESIS BLOCK

1) WHAT IS GENESIS BLOCK OF A BLOCKCHAIN.

Genesis block: every block on the blockchain has a parent block except for the genesis block, from the name given genesis is the first block to be ever created on a blockchain, every other block on the blockchain is linked or derived from this particular genesis block.
The genesis block is mostly referred to as block 0 or block 1 and also genesis block has its previous hash values set at 0, block rewards on genesis block are mostly unspendable.

2)WRITE ON THE BITCOIN GENESIS BLOCK AND ITS SIGNIFICANCE.

The genesis of all genesis block is the bitcoin genesis block which is termed as the first ever genesis block to be created in the cryptocurrency world. Bitcoin genesis block came into existence through the efforts of an unknown identity called Satoshi Nakamoto on 3rd JANUARY 2009 7:15 pm GMT.
Bitcoin genesis block is termed as block 0, the bitcoin genesis block was mined with a coded note left by Satoshi Nakamoto as ‘’The Times 03/JAN/2009 Chancellor on brink of second bailout for banks’’ and at that time there was global recession during 2008/2009.
Many crypto enthusiasts read the meaning as the cutting out of the conventional financial system that has failed to serve the people.
After the creation of the genesis block it took about 6 days before block 1 was mined as compared to 10 minutes of mining of next block now.
The bitcoin genesis block has a 50 BTC (1687539.00 dollars) reward that is unspendable, crypto enthusiasts tends to send bitcoin to this address in honor of Nakamoto.

Bitcoin genesis block currently has a confirmation of 690,407 on the blockchain.

Timestamp 2009-01-03 19:15.

Height of block is 0.

Miner: Unknown.

Number of transactions: 1.

Weight: 1140 WU.

Size: 285 bytes.

Nonce:2,083,236,893.

Hash of bitcoin genesis block. 000000000019d6689c085ae165831e934ff763ae46a2a6c172b3f1b60a8ce26f

significance
a)Bitcoin blockchain framework was copied by other alternative cryptocurrencies.

b)Bitcoin genesis block creation on its blockchain brought about decentralization and paved way for other cryptocurrencies to mine their first ever block.

c)Bitcoin genesis block birthed over 5000 individual block chain networks.

3)LOCATING THE STEEM GENESIS BLOCK.

STEP 1 LOG INTO STEEM WORLD.ORG

STEP 2 SIGN IN AT THE TOP RIGHT HAND CORNER

STEP 3 CLICK ON BLOCK EXPLORER

CLICK OK FOR BLOCK NUMBER 1 WHICH IS THE NAME OF THE GENESIS BLOCK

THE PAGE HERE WILL DISPLAY BLOCK 1 DETAILS SUCH AS TIMESTAMP, BLOCK ID, PREVIOUS ID, SIGNING KEY, WITNESS, ETC.

Conclusion
With this awesome lectures i have learnt how blocks on blockchain technology started and the idea behind to bring about a complete transparency and authenticity of transactions.