Bitcoin Genesis Block

Let’s break the terminology into three parts.

  • Bitcoin – The first crypto token ever created whose transactions are recorded on a decentralised and immutable ledger known as a blockchain
  • Genesis – It is the point of origin of the blockchain
  • Block – A set of transactions which are collectively recorded on a blockchain

When we put them all together, the term simply means the very first bitcoin block that was mined on the Bitcoin blockchain on January 3rd, 2009. It is the foundation of the entire bitcoin trading system and is also famously known as Block 0. Bitcoin buffs even donate small amounts of their Bitcoin as a tribute to the Genesis Block and its founder, Satoshi Nakamoto. It’s similar to when you throw a quarter in a wishing well because once the donation is a part of the block, it can’t be moved again.

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