Genesis Block
The genesis blockThe genesis block is the very first block of a blockchain, often referred to as Block 0. It is considered to be the starting point... is the very first blockA block is a collection of transactions that have been verified and added to the blockchain. Each block typically contains a cryptographic hash of the... of a blockchainThe blockchain is a digital ledger that records transactions in a secure and decentralized manner. Think of it like a shared spreadsheet that is constantly..., often referred to as Block 0. It is considered to be the starting point of a blockchain, containing unique data that cannot be found in any other block. The genesis block is important because it sets the foundation for the entire blockchain network, and is responsible for establishing the initial rules and parameters for the network. Additionally, the creation of the genesis block represents a significant milestone in the development of the blockchain technology.