Steemit Crypto Academy [Beginners’ Level] | Season 3 Week 2 | The Genesis Block: The Beginning of the Beginning written by @dlioness

It's been an amazing experience getting to participate in the weekly steemit crypto academy,the lessons has been helpful in the area of impacting crypto knowledge and with this I can communicate better with other crypto traders......smiles.....,I can't stop commending the crypto professors for their immense effort in compiling the lessons,as I always say "they are indeed the crypto gurus"...

source

Homework

1. What is the Genesis Block of a Blockchain ?
   
   
   
   
   
   I will first start by giving us a run down of what the word "Genesis" as indicated in the lesson  is all about ; Genesis as commonly known means beginning or origin;It might interest us to know that for every trending, successful or known inventory or establishment there's a  starting point(Genesis), same with our existence on earth as human,as the biologists told us that we human originated in Africa within the past 200,000 years and evolved from the  ancestor Homo erectus who was believed to walk or stand upright(straight),this is not the topic of the day but these intells us that there's a human history where their origin began and that also applies to establishments and inventories;
   
   
   
   " Block " as we know aids in  holding a foundation  strongly or can be used in building or making foundation and it also enhances the growth of a building level, it takes a sequential  upward movement  in   construction,
   
   
   
   Therefore a  Genesis Block is referred  to as the first block  of a cryptocurrency or name given to a cryptocurrency when it first evolved or existed,it is regarded as the foundation of every other Blockchain or cryptocurrency,it is actually depicted to as block 0 and also block 1 by some Blockchains.
   
   
   
   
   

1. Write on the Bitcoin Genesis Block and its significance
   
   
   
   
   
   The bitcoin genesis  block can be regarded as a book or data collector  that records bitcoin transactions. It was evolved as a chain of blocks, where each block contains a hash of the previous block up to the genesis block of the chain.
   
   
   
   Before now,there was nothing like digital currency or decentralized apps or transaction   that has to do without the banking systems or government policies  but  today there is and it's really escalating with time with much number of users;
   
   
   
   
   
   In August 18 2008,Bitcoin was registered and authorized on the 31st of October 2008 by a link to a paper authored by Satoshi Nakamoto which was titled Bitcoin;A user-to-user electronic cash system was posted to a cryptography mailing list  and Nakamoto implemented the Bitcoin software as open -source code and released it in January 2009 and till date Nakamoto's identity remains unknown ;
   
   
   
   On 3 January 2009, the bitcoin network was created when Nakamoto mined the starting block of the chain, known as the genesis block . Attatched to the coinbase of this block was the text "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" which was instilled by Nakamoto without any comment on what the text means , This note references a headline published by The Times which was believed by most people that it serves as a mission statement for Bitcoin itself.
   
   
   
   

The text is a headline for an article in the January 3, 2009 edition of The [London] Times about the British government's failure to stimulate the economy following the 2007–08 financial crisis. Nakamoto famously hated the idea of too-big-to-fail financial institutions and wanted Bitcoin to be different in that regard. Most people think that Nakamoto's reference to the article in the Genesis Block's code was a hint as to how Bitcoin is different from the big investment banks that needed government bailouts in 2008.

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This is the harsh for the genesis block:

000000000019d6689c085ae165831e934ff763ae46a2a6c172b3f1b60a8ce26f

Hash
000000000019d6689c085ae165831e934ff763ae46a2a6c172b3f1b60a8ce26f
Confirmations

Source

Satoshi Nakamoto has impacted the lives of millions with the Bitcoin project that a lot of people now hold the bitcoin founder in reverence.

significance

• Mode of payment:The existence of bitcoin has made it possible and easier for users to transfer and receive money to and from any part of the world without any form of limitation knowing that there is no government policies involved.

• Security and control:These blockchain has helped users to control and have access to their money,the bitcoin wallet is encrypted for safety

• value or impact:The existence of bitcoin has really changed alot of lives thereby providing them with finance and helping alot become financially stable

• low risk:bitcoin has helped its users in minimizing the risk of bulky money while trsnsfering to a user,the decentralized system is really doing alot of good works

3.Go to https://steemworld.org and locate the Steem Genesis Block (You must provide screenshots and sign in as proof of completion)

Click on https://steemworld.org

i signed in first,you can see as indicated by an arrow

Click on block explorer

Click ok

I was not able to continue due to the issue i encountered

N.B:i encountered some issues here and could not complete my processes after i have signed in,i hope i be helped to know what the problem is

Thanks to @awesononso and other professors for their immense effort in making this lessons a success

conclusion :To everything existing there is an origin or beginining and bitcoin happened to be the genesis of other cryptos or i would say it birthed other cryptos and set a pace ;bitcoin is a decentralized blockchain and the existence of the bitcoin genesis block has been usual as regarding to peer to peer transfer to and from any part of the world and in the control of their money, it has also helped many acquire a good standard of living, though satoshi Nakamoto is no where to be found but his legacy lives on .

Note : Part of the information contained here was gotten from here, click to read for reference purposes

Written by @dlioness

for @SteemitCryptoAcademy