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Glossary Term

Genesis Block

Block zero of a blockchain — Bitcoin's contains a newspaper headline that doubles as a mission statement.

The genesis block is the first block of a chain, hardcoded rather than mined competitively — the anchor every later block ultimately references. Bitcoin’s was created by Satoshi Nakamoto on January 3, 2009.

Embedded in its data is the famous text: “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks” — simultaneously a timestamp proving the block wasn’t pre-mined earlier, and a pointed comment on the financial system Bitcoin was answering. Its 50 BTC reward is unspendable by quirk of the original code, sitting untouched as crypto’s first monument.

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