Genesis Block

If you are into the crypto space, either as a developer or an investor, you must have come across the term “Genesis Block”. But what is a genesis block? The first block in the blockchain network is called a genesis block. It is also called Block zero or Block 0. The genesis block is usually hard-coded into the software application of the cryptocurrency. The genesis block or the first block in the blockchain network is the one that does not have a reference to its preceding block.

The founder of Bitcoin, Satoshi Nakamoto, mined the first ever Genesis block in 2009, which contained 50 Bitcoins. These 50 Bitcoins cannot be spent. Similarly, every blockchain network has its own genesis block. Every block in a blockchain has a parent block except the genesis block.