<p>The blockchain is the shared <em>journal</em> of all transactions on the network. Mining is the process which authors new blocks to extend the blockchain. Miners do not need unconfirmed transactions to create a block, but they earn transaction fees from including them. The only transaction in a block that is required by the protocol is the <a href="https://bitcoin.stackexchange.com/q/4571/5406"><em>coinbase transaction</em></a>. (We refer to blocks that only have a coinbase transaction as <a href="https://bitcoin.stackexchange.com/q/80663/5406">empty blocks</a>.) As the difficulty regulates the interval, mining acts as a distributed lottery to elect a block author about every ten minutes. As a reward for the expended work, the lucky miner collects the transaction fees of the included transactions and creates some new bitcoins for themselves. The long interval between blocks gives other network participants time to catch up to the new chaintip and converge on a shared truth.</p>
<blockquote>
<p>First, I browsed the wiki to figure out how SN created the genesis
block to earn bitcoin. It said he published the Bitcoin Core software,
used it to create genesis block and was rewarded with 50 bitcoins.</p>
</blockquote>
<p>The order of these events is mixed up. The Genesis Block was created before the Bitcoin software was published. Each block points at the previous block. Block 3 points at Block 2. Block 2 points at Block 1. Block 1 points at the Genesis Block. This forms the blockchain.</p>
<pre><code>GB ⇐ 1 ⇐ 2 ⇐ … ⇐ 719935
</code></pre>
<p>The Genesis Block is special because there was no previous block. The Genesis Block was created to <strong>define</strong> the starting point of the network. The first release of Bitcoin included the Genesis Block to make all nodes agree on the starting point!</p>
<p>However, the Genesis Block includes the headline of a newspaper from that day. This proves that the Genesis Block couldn't have been created before the newspaper got published, which was only a few days <a href="https://www.metzdowd.com/pipermail/cryptography/2009-January/014994.html" rel="nofollow noreferrer">before the software was released</a>. Satoshi Nakamoto did not create any money for himself with the Genesis Block, because the output of the Genesis Block cannot be spent. Since the Genesis Block is hard-coded as the starting point (for the first block to have a previous block), every new node already knows about the Genesis Block, and they do not read the Genesis Block like other blocks. Because nodes do not read the Genesis Block normally, they don't notice the money the Genesis Block created. The first block that is <em>new</em> to Bitcoin nodes is Block 1. The first spendable money was created with Block 1, because the first transaction that nodes process is the transaction in Block 1.</p>
<p>Even empty blocks provide proof-of-work and secure the network.</p>
<blockquote>
<p>Where can I see that public ledger?</p>
</blockquote>
<p>You can acquire your own copy of the blockchain by running the Bitcoin software, or browse one of many blockchain explorer websites such as e.g. <a href="https://mempool.space" rel="nofollow noreferrer">mempool.space</a>, <a href="https://blockstream.info" rel="nofollow noreferrer">blockstream.info</a>, or <a href="https://blockchair.com" rel="nofollow noreferrer">blockchair.com</a>.</p>

CC BY-SA 4.0
2022-01-22T18:46:58.710Z
2022-09-30T15:33:17.030Z
2022-09-30T15:33:17.030Z
Murch
<p>One block may contain one or more transactions, the only required is called &quot;coinbase&quot; and is the very first one. Coinbase's transaction pays the miner's reward (fee + subsidy), and is required.<br />
If a block contains only a coinbase transaction, it's called an empty block, and it's totally fine.<br />
There are plenty of sites where you can see all bitcoin's transactions in this “public ledger”, it's called block explorer. <a href="https://mempool.space/block/000000000019d6689c085ae165831e934ff763ae46a2a6c172b3f1b60a8ce26f" rel="nofollow noreferrer">Here</a>, you can see Bitcoin's genesis block, which only contains the newly minted coins.</p>

CC BY-SA 4.0
2022-01-22T18:08:10.217Z
2022-01-22T18:08:10.217Z
Davidson Souza
<p>According to bitcoin.org, mining is referred to as 'the process of spending computing power to process transactions, secure the network, and keep everyone in the system synchronized together'.</p>
<p>First, I browsed the wiki to figure out how SN created the genesis block to earn bitcoin. It said he published the Bitcoin Core software, used it to create genesis block and was rewarded with 50 bitcoins.</p>
<p>According to bitcoin.org, how did he literally mine bitcoin, while at that moment there was no
transaction between peers by bitcoins? Did SN verify any transaction when he created genesis block? I think it's a contradiction.</p>
<p>Besides… I want to know the reality of blockchain. People say it's a public ledger—so where can I see that public ledger, and check whether every transaction is recorded on every computer? Is there any website for that?</p>

<blockchain><history><genesis-block><blockchain-explorer>
How did Satoshi Nakamoto mine 50 bitcoins by creating genesis block? And where can I see blockchain?
코스모스
# How did Satoshi Nakamoto mine 50 bitcoins by creating genesis block? And where can I see blockchain?

(Asked by: username_0 on 2022-01-22)

According to bitcoin.org, mining is referred to as 'the process of spending computing power to process transactions, secure the network, and keep everyone in the system synchronized together'.

First, I browsed the wiki to figure out how SN created the genesis block to earn bitcoin. It said he published the Bitcoin Core software, used it to create genesis block and was rewarded with 50 bitcoins.

According to bitcoin.org, how did he literally mine bitcoin, while at that moment there was no
transaction between peers by bitcoins? Did SN verify any transaction when he created genesis block? I think it's a contradiction.

Besides… I want to know the reality of blockchain. People say it's a public ledger—so where can I see that public ledger, and check whether every transaction is recorded on every computer? Is there any website for that?

**Tags:** blockchain, history, genesis-block, blockchain-explorer


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## 2 answers

### Answer by username_1 on 2022-01-22. Score: 4

The blockchain is the shared *journal* of all transactions on the network. Mining is the process which authors new blocks to extend the blockchain. Miners do not need unconfirmed transactions to create a block, but they earn transaction fees from including them. The only transaction in a block that is required by the protocol is the [*coinbase transaction*](https://bitcoin.stackexchange.com/q/4571/5406). (We refer to blocks that only have a coinbase transaction as [empty blocks](https://bitcoin.stackexchange.com/q/80663/5406).) As the difficulty regulates the interval, mining acts as a distributed lottery to elect a block author about every ten minutes. As a reward for the expended work, the lucky miner collects the transaction fees of the included transactions and creates some new bitcoins for themselves. The long interval between blocks gives other network participants time to catch up to the new chaintip and converge on a shared truth.

> First, I browsed the wiki to figure out how SN created the genesis
> block to earn bitcoin. It said he published the Bitcoin Core software,
> used it to create genesis block and was rewarded with 50 bitcoins.

The order of these events is mixed up. The Genesis Block was created before the Bitcoin software was published. Each block points at the previous block. Block 3 points at Block 2. Block 2 points at Block 1. Block 1 points at the Genesis Block. This forms the blockchain.

```
GB ⇐ 1 ⇐ 2 ⇐ … ⇐ 719935

```

The Genesis Block is special because there was no previous block. The Genesis Block was created to **define** the starting point of the network. The first release of Bitcoin included the Genesis Block to make all nodes agree on the starting point!

However, the Genesis Block includes the headline of a newspaper from that day. This proves that the Genesis Block couldn't have been created before the newspaper got published, which was only a few days [before the software was released](https://www.metzdowd.com/pipermail/cryptography/2009-January/014994.html). Satoshi Nakamoto did not create any money for himself with the Genesis Block, because the output of the Genesis Block cannot be spent. Since the Genesis Block is hard-coded as the starting point (for the first block to have a previous block), every new node already knows about the Genesis Block, and they do not read the Genesis Block like other blocks. Because nodes do not read the Genesis Block normally, they don't notice the money the Genesis Block created. The first block that is *new* to Bitcoin nodes is Block 1. The first spendable money was created with Block 1, because the first transaction that nodes process is the transaction in Block 1.

Even empty blocks provide proof-of-work and secure the network.

> Where can I see that public ledger?

You can acquire your own copy of the blockchain by running the Bitcoin software, or browse one of many blockchain explorer websites such as e.g. [mempool.space](https://mempool.space), [blockstream.info](https://blockstream.info), or [blockchair.com](https://blockchair.com).


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### Answer by username_2 on 2022-01-22. Score: 2

One block may contain one or more transactions, the only required is called "coinbase" and is the very first one. Coinbase's transaction pays the miner's reward (fee + subsidy), and is required.  
If a block contains only a coinbase transaction, it's called an empty block, and it's totally fine.  
There are plenty of sites where you can see all bitcoin's transactions in this “public ledger”, it's called block explorer. [Here](https://mempool.space/block/000000000019d6689c085ae165831e934ff763ae46a2a6c172b3f1b60a8ce26f), you can see Bitcoin's genesis block, which only contains the newly minted coins.


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