Genesis Block
The first block in a blockchain, hardcoded into the protocol as the starting point of the chain.
In-Depth Explanation
The genesis block is block 0 (or 1, depending on the chain). Unlike other blocks, it's not mined or validated against a previous block—it's the foundation. Bitcoin's genesis block famously contains the text 'The Times 03/Jan/2009 Chancellor on brink of second bailout for banks,' timestamping Bitcoin's creation and hinting at its motivation.
Related Terms
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View all →Gas Fees
Transaction fees paid to validators/miners for executing operations on a blockchain.
Gwei
A denomination of Ether equal to one billionth of an ETH, commonly used to express gas prices.
Layer 2
L2Scaling solutions built on top of a base blockchain (L1) that process transactions off-chain while inheriting L1 security.
Layer 1
L1The base blockchain that provides security and consensus, such as Ethereum, Bitcoin, or Solana.