Let’s break the terminology into three parts. Bitcoin – A blockchain network with a native cryptocurrency Genesis – It essentially means the origin mode of formation Block – A piece that was mined When we put them all together, the term simply means the very first bitcoin block that was mined on the blockchain on January 3rd, 2009. It is the foundation of the entire trading system and also famously known as Block 0. Talking about Bitcoin Genesis Block, did you know it almost had a dedicated community that worships the block. In fact, 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 it is a part of the block, it can’t be moved again.
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