Genesis Block

What is the Genesis Block?

The Genesis Block is the name of the first block of Bitcoin. It forms the foundation of the entire Bitcoin trading system. In 2009, the Bitcoin named developer Satoshi Nakamoto created the Genesis Block that launched the process of Bitcoin trading.

The genesis block is the first block in the blockchain-based protocol. The term blockchain is given when the additional blocks are added to form a chain of blocks. Every block in a blockchain store is a reference of a previous block. Sometimes a block is referred to block 0.

The Genesis Block has no previous block reference, but in technical terms, it means that the Genesis Block has the value set to 0. All the other blocks will have a sequential number beginning from 1 and will have 0 set value to the previous block.

The 0 in the Genesis block is added to all the new transactions. The combination is used to create its unique Hash and the process is repeated till all the blocks are added to the blockchain. The number 0 is used to refer to the ordering blocks known as the block height number.

Why is the Genesis Block Needed?

Without Genesis Block, it will be complex for the miner to trust the blockchain. It should have a starting point so that everyone can trust. A physical chain must begin with a single physical ring that means the Genesis Block is the first or a starting point. You can view the starting point in a race and if every miner began from wherever they want, then they would have no general agreement and no Basis of trust.