Genesis Block

The genesis block is the very first block recorded on its separate blockchain network, likewise periodically alluded to as Block 0 or Block 1.
At the point when a block is communicated to the blockchain, it references the previous block. Be that as it may, on account of the genesis block, there is no previous block to reference.

Since there is no previous block to reference, genesis blocks are generally hardcoded into the software.

In terms of Bitcoin, the genesis block was on the third of January 2009. This block had a reward of 50 BTC that is everlastingly unspendable. It is obscure with respect to whether the genesis block's reward was intentionally unspendable as there was not a great reason in regards to this from Satoshi Nakamoto.

Bitcoin Genesis Block

The hash of the genesis block (000000000019d6689c085ae165831e934ff763ae46a2a6c172b3f1b60a8ce26f) is unique as it contains two extra leading hex zeros than required by other early blocks.
The 50 BTC reward from the genesis block was shipped off the address, 1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa and, as of January third, 2019, this address contains a total of 66.912 BTC and has received a total of 1486 transactions. The block reward of 50 BTC will stay unspendable always and individuals that have sent their Bitcoin to this address will always be unable to recover the funds that they sent.

The Hidden Message

Inside the Bitcoin genesis block, a message was left by Satoshi, perpetually written ever. Inside the coinbase boundary, alongside the standard block data, the accompanying message was incorporated (a headline from The Times).

The Times 03/Jan/2009 Chancellor on verge of second bailout for banks
This message was probable included as a timestamp to demonstrate that the block was not made before the third of January. Nonetheless, the picked headline additionally has strong importance to the explanation Bitcoin was made in any case.

Timestamps

After the genesis block of Bitcoin, the next block on the blockchain had a timestamp recorded six days after the fact.

• Block 0: 2009-01-03 18:15:05
• Block 1: 2009-01-09 02:54:25

The specific explanation for this is at present obscure, yet it is conjectured that Satoshi either enjoyed some time off or arranged this to relate with the Bible's account of the world being made in 6 days.

Features

• The Genesis Block forms the foundation of the Bitcoin trading system and is the model of any remaining blocks in the Bitcoin blockchain.
• In 2009, a designer named Satoshi Nakamoto made the Genesis Block.
• Genesis Block is the name of the very first block of Bitcoin mined.