A genesis block is the very first block of any Blockchain also known as Block 0. The content of genesis block is always hardcoded into the software of the application that uses a particular blockchain technology.
Use of Genesis Block
Genesis Block defines all the variables needed to create new blocks in the blockchain. Every Blockchain is a collection of data blocks connected together by the address of the previous block in encrypted data format in chronological order.
Each block contains an encrypted hash of the previous block, a timestamp, index, data, and Merkle root. Genesis Block is the very first block of these connected blocks having its previous address 0. The new blocks identified after genesis block have index (block height) incremented by 1 with time.
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Bitcoin Genesis Block Elements
Satoshi Nakamoto, mentioned all the paraments of Genesis Block in the comment section of his code for bitcoin blockchain from line 1613 to 1627 which got generated when this genesis block hardcode got executed.
The bitcoin genesis block has the following main variables or functions, which are recreated in every block generated in bitcoin blockchain thereafter.
Timestamp in Bitcoin Genesis Block
After the execution of the code the genesis block got created at UNIX Timestamp:1231026300, GMT: Saturday, January 3, 2009 11:45:00 PM.
This year, On January 03,2021 bitcoin genesis block has completed 12 years.
Data in Bitcoin Genesis Block
SHA256 Hash generated of the Data written in Bitcoin Blockchain Genesis Block is found to be in coinbase parameter
Which on decoding gives the Text “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks” mentioning the headline of THE TIMES Newspaper published in the United Kingdom on Saturday January 03,2009.
Breaking Raw Hex Version of Bitcoin Genesis Blockchain
Breaking the Raw Hex Version of Bitcoin Genesis Block into understandable content it gives all details of version, previous block hex, Merkle root, timestamp, bits, nonce, transaction detail, input data, reward BTC etc.
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