Genesis Block - what is it?

The Genesis Block is the first block of any blockchain.

The cryptocurrency system is unique in its technical structure. Mining of various digital coins occurs through complex computational processes, as a result of which a new blockchain is created. Every new blockchain must have a first block; otherwise, it is called a Genesis Block (1 or 0).

Features of the Genesis block

The Genesis Block is usually hard-coded into the system software. Each new block is built on this particular code element, which cannot be changed. At the same time, all other blocks are interconnected into separate chains. It is for the Genesis Block that miners receive a reward.