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DOMAINS TOKEN-G

Rachel Welch

26 September 2022 119 Read Blockchain

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What is Genesis Block?

The Genesis Block is the first block of data in a blockchain. It is also referred to as block 0 or block 1. The first block of the blockchain contains 50 bitcoins. People have been sending bitcoins to this address since the earliest days of the system. However, when a user joins the first block, their donations can't be spent.

To spend the coins in the Genesis block, you'll need to use the corresponding private key. To do this, you need to have a valid unlocking script. This script can only be added by nodes that have most of the hash power. However, it's important to note that Satoshi clearly intended the Genesis block to be unspendable.

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