Genesis block

The genesis block is the first block of a blockchain, the one from which every later block descends. Unlike every other block, it has no previous block to point to, so it is hard-coded into the network's software.

Bitcoin's genesis block (block 0) was created by Satoshi Nakamoto and carries the timestamp 3 January 2009. Satoshi embedded a line of text in it: "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks", a headline from the British newspaper The Times. It is widely read as both a proof that the block was not created before that date and a comment on the banking bailouts of the 2008 financial crisis.

The 50 BTC reward in Bitcoin's genesis block cannot be spent because of a quirk in the original code. Many people have since sent small amounts to the genesis address as a tribute. Every other blockchain also has its own genesis block, typically created when the main network launches.