What is Serum (SRM)?
What is Serum (SRM)? In collaboration with our partner, Alameda Research, we are excited to announce the release of the Serum token. The Serum token
The Genesis Block is the first block of the Bitcoin blockchain – hence the name, “Genesis”. It serves as the fundamental basis for Bitcoin’s trading system and acts as a prototype for other blocks in the blockchain. The founding of this origin block came with the initial creation of Bitcoin by its founder, Satoshi Nakamoto.
As the first block of the Bitcoin blockchain, the Genesis Block is untradeable. Unlike all the other blocks of the blockchain that contain transactions, this block does not contain any transactions nor can the tokens from this block be used in a transaction.
The first 50 BTC-transactions that are in the database actually cannot be found. This led to many speculations and debates around the creation of the “Genesis Block”. Some believed that the missing 50 BTC was possibly a coding error on Nakamoto’s part.
However, a large majority still think that it was a part of Nakamoto’s intention for writing the code the way that it is.
Within the Genesis Block, there is an underlying hidden code. This hidden code within the data of the Block comes from a news headline from The London Times back in 09’. The article headline reads:
This message resonates with many true Bitcoin believers as it is indicative of the flaws in the financial system and the initial reason for Bitcoin’s creation. This message acts as a reminder for people to see how Bitcoin is different from existing financial institutions. Moreover, it serves as an indicator for Bitcoin’s initial creation.
The Genesis Block acts as the fundamental building block for Bitcoin and many other cryptocurrencies. This origin block marks the initial creation of a revolutionary financial instrument that changes the entire financial landscape.
Thanks for reading our article. If you found this article helpful don’t forget to subscribe below and checkout some of our other content.
What is Serum (SRM)? In collaboration with our partner, Alameda Research, we are excited to announce the release of the Serum token. The Serum token
Welcome to another lesson from the Crypto Classroom What is Yield Farming? It’s probably one of the hottest buzzwords in the crypto industry today. Before
DeFi is an acronym for Decentralized Finance. This generally refers to digital assets, smart contracts, protocols, and DApps (decentralized applications) that are built on Ethereum.
IOTA is a distributed ledger technology that is used to record and execute transitions between devices in the Internet of Things (IoT) ecosystem. IOTA hopes
Welcome to Crypto 101: What is Tezos? Tezos is a Blockchain platform that supports decentralized applications (dApps) and smart contracts. The platform was first developed
Bitcoin didn’t happen overnight. The idea of a native currency for the internet was built-in to basic internet protocols. Ever heard of error 404? It’s
Genesis Block.
1/F, 269 Hennessy Road,
Wan Chai, Hong Kong
