Steemit Crypto Academy Contest / S1W3 – Blockchain through the concepts by @emmy7924

Greetings to you my friend and welcome to my post. In this post I will be discussing about my favorite concept or team related to blockchain.

Blockchain is a technology that has so many concepts that is related to it and sometime some of the concept that are related to blockchain often confused people. However, here in this post I will be discussing about my own favorite blockchain concept or terms that I love talking about. So let's get started.

Telll us about your favorite concept or term related to blockchain, try to be explanatory and make sure to give your opinion. (For example: Decentralized, Genesis Block, Hard Fork, Proof of Stake.)

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My favorite blockchain concept or term is called Genesis Block. In a blockchain, Genesis Block is the first block when it comes to any blockchain based protocol. The first cryptocurrency that was mined got its name from Genesis Block. So the Genesis Block in a blockchain is the basis upon which more blocks are added to a blockchain to form a chain of blocks. This is where the term blockchain comes about.

The Genesis Block is usually start with block 0, and it's the reason why it's regarded as Block 0. In the blockchain we all know that there is a series of block that stores a reference to the previous exiting block. (a series of block that stores data that are related to transaction that occur in the blockchain network).

In a blockchain terms it means that the Genesis Block which is my favorite blockchain term has it's previous hash value set that begins 0. This implies that in the Genesis Block no data can begin first except it's 0. Aside the 0 all other block will start with 1 which is a sequential numbers, whicj will have there own previous hash that is set to that of the previous (prior) block.

If you are familiar with the Genesis Block, or you have check it before, you will see that all new transactions in a new block is added to the hash of the Genesis Block. This process kept repeating itself until when all the new blocks are added fully to a blockchain.

Hash height number is the number that is used to refer to how blocks is being order and as I have previously said it's begin with 0.

"Bitcoin Chain", was the first and the most reknown Genesis Block that was created by Bitcoin founder called "Statohi Nakamoto" on 3rd January. All through the Bitcoin Genesis Block there is a message that is forever written by the Bitcoin founder in history.

The message is stated below:

“The Times 03/Jan/2009 Chancellor on brink of second bailout for banks”

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Looking at the image and the message above, it shows that the creation of bitcoin Genesis Block wouldn't have been created before 3rd January, 2009.

One of the reason why I so love discussing about Genesis Block as my favorite blockchain term is because it is the Genesis Block that mining of cryptocurrency possible.

My Opinion on Genesis Block blockchain.

My opinion about Genesis Block is that since it's is the block that begin with serious and follow with other series of numbers it should be written the way can easily be read by anyone that sees it. And since timestamp are what is used to store time, date and event that happened in the blockchain there should be 100% accurate but instead there are only accurate within the range of 1 to 2hours.

With this miners can fake the their timestamp from their computer (devices). However, Genesis Block is what brought trust among miners if not without if there wouldn't be trust in the blockchain.

Why do you think it is important in the blockchain?

First if am to rate the Genesis Block, I will give it complete 5 start for being trusted in the blockchain. However, in a blockchain aside Bitcoin which was the first to create Genesis Block other crypto including Steem has they own Genesis Block which has proven to us how important the Genesis Block is in the blockchain.

Genesis Block is very important in the blockchain because without the Genesis Block, it would be very difficult for blockchain to be trusted by miners and when they are to begin mining.

Without saying, Genesis Block is really needed in the blockchain. However, it's very important for a blockchain to have a begining point that can be trusted by everyone that use it.

If there is anyway that I can say that the Genesis Block is of more important in the blockchain that is what I will say because. The reason is because all physical chain usually start with a single physical ring, of which Genesis Block is the first single ring and the starting point.

Like for instance,the building we are living on, once the foundation is collapse that is the end of the building. This is the same thing that is applied to Genesis Block in the blockchain. The blockchain can collapse once Genesis Block which is the starting point has collapse.

The Genesis Block is very important, in the blockchain, because is the foundation that hold the blockchain strong. Also the Genesis Block is what make users to have a trust on the blockchain of which without its no miners will trust the Genesis Block.

Do you think it is possible to improve this term in some way? Explain us how

To me I don't think it's possible for Genesis Block to be improve again. This is because at first when it was created by bitcoin founder Satoshi Nakamoto, he created it in a such a way that it cannot be change neither improve.

This is the main reason why Satoshi Nakamoto make this statements below;

"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks”
Source

The above message is forever written by Statohi Nakamoto telling the world and the crypto industry that the Genesis Block can't be changed be change nor improve. The thing with the Genesis Block is that it has being created in a such a way that it functions cannot be overlook nor think of improving at anytime soon.

Do you think that the existence of the blockchain would be possible without this concept? Is there an alternative or similar term?

The existence of the blockchain would not be possible without the Genesis Block. The reason why the blockchain wouldn't be that possible is that one there wouldn't be trust and mining of crypto wouldn't be available.

Aside mining of crypto by miners it wouldn't be even possible to check transactions time with the help of timestamp. The role that the Genesis Block plays in the blockchain is very important in such a way that without its blockchain wouldn't be called blockchain and this is the reason why Statohi Nakamoto created it last and dated it which prove how important it's in the blockchain.

Actually, for now, there is no alternative or similar term than can be use in the absent of the Genesis Block. But I believe in future time there will be something that would be created which which will functions like the Genesis Block.

Conclusion

Genesis Block is a very concept or term that Is used in the blockchain and also when tracing the history of blockchain how its works, how it was first mined etc it is Genesis Block that you would be see throughout

The Genesis Block as I have said earlier, is the first ever block that was created on the blockchain which is that of Bitcoin blockchain. Also in the post, we have learned that Bitcoin founder Satoshi Nakamoto was the person that created the chain. He spawned the 21million BTC that is in circulation and make its the total suppply. I sincerely that the whole of Steemit Cryptoacademy community for this great challenge.

Thank for stopping here.

Best Regards;

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@kouba01
@fredquantum