The Genesis Block is the first block of a blockchain, serving as the foundation on which additional blocks are sequentially added. In cryptocurrencies, it is often referred to as Block 0 or Block 1. This block is statically encoded within the blockchain’s software, differing from other blocks in that it does not reference a previous block.
The creation of the Genesis Block is a significant step in the launch of a new blockchain, and it typically contains unique characteristics or messages. For instance, the Genesis Block of Bitcoin includes a headline from The Times newspaper, serving as both a timestamp and a comment on the instability of traditional banking.