Look at the genesis block and source code that triggered the financial revolution – Featured Bitcoin News

Today, 13 years ago, the anonymous creator of the Bitcoin protocol started the network by mining the genesis block. Satoshi Nakamoto launched the genesis block on Saturday, January 3, 2009 at 1:15 pm (Eastern Standard Time), and since then more than 700,000 blocks have been mined.

Start the Bitcoin network

Today, Bitcoin enthusiasts and cryptocurrency advocates around the world are celebrating the 13th anniversary of the launch of the Bitcoin network. On this day 13 years ago, Satoshi Nakamoto, the inventor of Bitcoin, launched the genesis block, also known as the “zero block.” The genesis block has several unique characteristics that make it different from subsequent blocks.

Starting the Bitcoin network: look at the genesis block and source code that triggered the financial revolution
The message left by Satoshi Nakamoto in the coinbase parameter field of the genesis block.

For example, the genesis block has a 50 Bitcoin Block reward subsidies that can never be used. The zero block also has two leading hexadecimal zeros in the hash, which are common in early bitcoin blocks mined. The genesis block also contains special messages stored in the coinbase parameter. The news originated from the headline of the London Times on January 3, 2009, and read as follows:

The Times On January 3, 2009, the Chancellor of the Exchequer is about to carry out a second bailout to the bank.

Seven-day theory, time chain, virtual poker

Many people do not know that the Bitcoin protocol does not produce another block until six days after the genesis block is mined. It is assumed that Satoshi Nakamoto has this waiting time for a reason, because it is similar to the folklore of Machiavelli or the story of Genesis in the King James Bible. The earth was created in 7 days.

Satoshi Nakamoto uses a standard personal computer or central processing unit (CPU) to mine the Bitcoin network. Suppose that Nakamoto is a Microsoft user, and the code base of the protocol is written in the coding language C++.In addition to coding languages, users also use Windows GUI mining applications to mine Bitcoin Stopped then.

Starting the Bitcoin network: look at the genesis block and source code that triggered the financial revolution
The original Bitcoin code base also had a built-in virtual poker game that had never been developed.

When Bitcoin researchers checked the precode version before January 3, 2009, Decentralized For bitcointalk.org member “Cryddit”, many interesting findings were discovered. For example, the document mentions the term “bitcoin miners” for the first time and refers to the blockchain as the “time chain”. The pre-released Bitcoin source code also contains early frameworks for IRC clients, peer-to-peer (P2P) markets, and virtual poker games.

Starting the Bitcoin network: look at the genesis block and source code that triggered the financial revolution
The screenshot on January 3, 2009 (the same date as the genesis block), there is an unpublished blockchain and three other connections at block 213.

In addition, according to Bitcointalk.org users Shensailong On December 23, 2013, and some other armchair detectives, “There is no source code that can be recovered from Sourceforge through the Internet Archive, but this is a screenshot of January 3, 2009 (the same as the creation date), which contains An unreleased blockchain is connected to the other three at block 213.” Some people assume that Satoshi Nakamoto and some early users may have tested the release of the blockchain before January 3, 2009.

13 years of Bitcoin protocol multiple milestones, exponential growth in computing power

On the 12th anniversary of the genesis block last year, a mysterious miner 1,000 BTC spent since 2010 After letting Bitcoin sit idle for more than ten years. The 13th anniversary is as follows Bitcoinof High lifetime price On November 10, 2021, encrypted assets reached US$69,000 per unit.In addition, on January 1, 2022, the network’s hash rate Set a record high More than 200 exahash per second.

Starting the Bitcoin network: look at the genesis block and source code that triggered the financial revolution
Since January 9, 2009, Bitcoin’s computing power has increased by 267,647,058,823,529,300%. On January 1, 2022, the computing power of the network reached an ATH exceeding 200 exahash/s (EH/s) or 0.2 zettahash/s (ZH/s).

On January 9, 2009, the hash rate of Bitcoin was approximately 68.96 thousand hashes per second (KH/s) or 68,000 (sixty eight thousand) hashes per second (H/s). This is also equivalent to 0.068 megahash per second (MH/s) or 0.000068 megahash per second (GH/s), which is too low to be measured by too much hash per second (TH/s).

Who is at this time on January 9, 2009 and the following week (we assume Satoshi Nakamoto), still investing more computing power than mining Bitcoin (Bitcoin) Use paper and pencil (0.67 hash value per day) or Nintendo Game Boy (0.8 H/s). Since January 9, 2009, the hash rate of the network has increased exponentially, reaching 267 trillion%.

Tags in this story

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What do you think of the 13th anniversary of the creation block of the Bitcoin network? Please tell us your thoughts on this topic in the comments section below.

Jamie Redman

Jamie Redman is the head of news at Bitcoin.com News and a fintech reporter living in Florida. Since 2011, Redman has been an active member of the cryptocurrency community. He is passionate about Bitcoin, open source code and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about destructive protocols emerging today.

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