Hello steemians to the second week of steemit crypto academy.

Introduction.

I must say I have learnt a lot from this week's lecture on The Genesis Block: The Beginning of the Beginning.

I would now want to present my answers to the questions asked.

What Is The Genesis Block Of A Blockchain.

Genesis in English language is a term used to describe the origin, beginning or start of something.

Genesis block of a blockchain in relation to cryptocurrencies is the first ever block a cryptocurrency ever mined.

These blocks are a series or a ledger that holds information of transactions that has occurred on the blockchain where cryptocurrencies are run on.

And so the first block is the foundation on which these series of blocks are registered in a cryptocurrency like BTC and known as the genesis block.

Genesis blocks include and not limited to the BTC, ETH, steem, etc. with bitcoin having the first ever genesis block as it is the first cryptocurrency.

The Bitcoin Genesis Block And Its Significance.

Just like most of us know and I said earlier, bitcoin is the first cryptocurrency and the hence the mother of cryptocurrencies released in 2009 by an anonymous group of person called Satoshi Nakamoto.

The first ever BTC genesis block was mined on 3rd January 2009 containing the first 50 bitcoins.

Satoshi Nakamoto whose identity is still unknown left an encoded message in the block which is considered to mean that BTC's goal is to be different from the traditional banking systems.

Bitcoin genesis block is the start of the proof of work blockchain system where blocks record transactions permanently.

The Genesis Block is also known as the block 0 upon which additional blocks in a blockchain are added.

The block 0 is the mother block where each and every new block cab trace it's origin to.

The process of adding new blocks to the existing genesis block is what has started BTC transaction validation introducing new bitcoins into the crypto world.

The average timestamp between BTC mined blocks should be 10 minutes but it wasn't until 6 days later that the next block after block 0 was mined hence making crypto enthusiasts have some questions.

Some believe Nakamoto intended replicating the creation story while others believe the 6 day duration was used to test the BTC decentralized system and make sure it was ready for use.

Bitcoin block mining in the past was easier with high rewards of up to 50 BTC unlike presently were the reward for a mined block is 6.25 BTC

The hash for bitcoin's genesis block is:
000000000019d6689c085ae165831e934ff763ae46a2a6c172b3f1b60a8ce26f

source

whose wallet address (1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa ) has received untouchable coins of up 68.4 to BTC and 2945 transactions as of the time of doing this work.

source

The main reason behind sending bitcoin tokens to this address is done to appreciate Satoshi Nakamoto for creating the BTC.

Significance of The Bitcoin Genesis Block.

The Bitcoin Genesis Block is very symbolic and has a lot of impact to the cryptocurrency world.

I would now talk about the significance of the Bitcoin Genesis Block.

• The Emergence of Cryptocurrencies.

Bitcoin as most of us know is the first cryptocurrency introduced by an anonymous group or person known as Satoshi Nakamoto in 2009.

BTC was created to replace or make improvements to the traditional banking system by providing fast, reliable and a decentralized way of transactions.

There are now over 10 000 cryptocurrencies run on blockchains which all have ties to the Genesis Block.

• The Introduction of the blockchain technology.

Like I said above, cryptocurrencies run on blockchains and BTC with its genesis block was the first to do that.

Blockchains are aimed at providing systems where every transaction is recorded on ledgers or blocks as a way of preventing theft and promoting honesty and trust.

With the rise or start of the genesis block, people have realized how beneficial the decentralized blockchain system is and is used to do a lot around the world.

• Source of income.

BTC works on a proof of work consensus mechanism where miners validate blocks and get rewarded with BTC tokens in return.

As at now, a miner is rewarded with about 6.25 btc for a successful mine which can be traded for fiat or other cryptocurrencies.

• A good message.

The Bitcoin Genesis Block was encoded with a message which has been revealed and believed to mean that, BTC is introduced to replace the failed conventional banking system.

How To Locate The Steem Genesis Block.

Unlike the BTC genesis block which is known as block 0, the steem genesis block is known as block 1 which was created in 2016 on March 24.

To find the steem genesis block, these steps should be followed;

Step 1: Visit this site

Step 2: Click on block explorer from the displayed page.

Step 3: Click on ok when block 1 is displayed.

Step 4: The details of block 1 is displayed.

Step 5: You can sign in by clicking on sign in at the top hand right corner and input your sign in details.

Step 6: You are successfully signed in.

Conclusion.

I must say a very big thank you to prof @awesononso for providing us with this very informative lecture on the genesis block.

I learnt what that the genesis block is block 0 the first ever crypto block, I learnt about the genesis of the BTC block and it's significance which includes and not limited to giving rise to the world of cryptos and introduction of blockchains.

Also, I explored the block 1, the steem genesis block using the steemworld.org block explorer.

Thank you.