Protocol
Genesis Block
The first block in the Bitcoin chain, mined by Satoshi Nakamoto on January 3, 2009.
Definition
The Genesis Block is block number 0 of the Bitcoin blockchain, mined by Satoshi Nakamoto on January 3, 2009. It contains a message encoded with that day's headline from The Times: 'Chancellor on brink of second bailout for banks' — a statement of intent about Bitcoin's purpose as an alternative to the traditional financial system. The 50 BTC reward from the Genesis Block can never be spent, for technical reasons inherent to the protocol.
In Context
E.G.
The message in the Genesis Block is not a technical accident: it was a deliberate act by Satoshi.
Related Terms
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