What is Genesis Block

The Genesis Block is the first block of a blockchain.

The special thing about the Genesis Block at Bitcoin is the secret message (in the coin base).

Satoshi Nakamoto left the following text: “ The Times 03/Jan/2009 Chancellor on Brink of Second Bailout for Banks ”

Translation: Chancellor (Brit. Finance Minister) shortly before the second rescue operation for banks

This text serves as proof that the block was also created on this day by referring to the title of the British newspaper The Times .

This happened at the time of the global financial crisis, so that this message is also seen by many as a criticism of the previous financial system .