Genesis block

The very first block in Bitcoin's blockchain, mined by Satoshi Nakamoto on 3 January 2009.

The genesis block — also called block 0 — is the first block ever added to the Bitcoin blockchain. Satoshi Nakamoto created it on 3 January 2009, starting the chain that every later block builds on. Unlike every block since, it was not produced by competitive mining; it is hard-coded into Bitcoin software so that all nodes begin from exactly the same starting point.

Embedded in the genesis block is a short line of text: "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks." It quotes a real newspaper headline from that day. The message both timestamps the block — proving it was not created earlier — and nods to why Bitcoin exists: an alternative to a banking system being propped up by bailouts.

By a quirk of the original code, the 50-bitcoin reward in the genesis block can never be spent. It is a permanent, unspendable piece of Bitcoin's history. People still send tiny amounts to the genesis address as a kind of tribute, none of which can ever move again.

ExampleThe genesis block's hidden message reads: "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks."

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Related terms

Glossary

Block

A bundle of Bitcoin transactions added to the blockchain roughly every ten minutes.

Glossary

Mining

The process of competing to add new blocks to the Bitcoin blockchain. Miners earn block rewards plus fees.

Glossary

Satoshi

Two meanings: (1) the smallest unit of Bitcoin (1/100,000,000 BTC), and (2) the pseudonymous inventor of Bitcoin.

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