Word of the Day : January 4, 2021
Genesis Block
The term genesis block refers to the first ever block recorded on its blockchain network. Normally, a block references to the previous block when it is broadcasted to the blockchain.
In case of the genesis block, also occasionally referred to as Block 0 there is no previous block to reference. Therefore, genesis blocks are generally hardcoded into the software.
In terms of Bitcoin, the genesis block was released on the 3rd of January 2009 on Sourceforge and had a reward of 50 BTC.
The following message from Satoshi Nakamoto was included within Bitcoin's genesis blog:
The Times 03/Jan/2009 Chancellor on brink of second bailout for banks
