Vytautas Kašėta explains: January 3, 2009 is not actually the true birthday of the Bitcoin network because on this day, Satoshi Nakamoto generated block #0 of the Bitcoin blockchain, known as Genesis. However, this block only served as a starting point for the creation of the network and did not contain any real transaction data.
“The Genesis block is only used to launch blockchain projects, and technically anyone can create it,” Vytautas Kasheta wrote on his blog.
The first non-zero block, mined on January 9, 2009, truly marked the beginning of actual transactions on the Bitcoin network, when the blockchain became a functional medium of exchange. This distinction is crucial for understanding the genuine inception of the Bitcoin blockchain and its development. Although the Genesis block laid the foundation for the network, it was the creation of the first non-zero block that signaled the actual initiation of transactional activity on the network, according to the crypto enthusiast.
“The Genesis block is like a ceremonial cornerstone of a building,” agrees lecturer and Bitcoin enthusiast Andreas Antonopoulos. “It symbolizes the start of the project, but the building itself won’t function until the first bricks are laid.” This is the day the network first showcased its ability to securely transfer value peer-to-peer.”
Experts concur that both dates hold historical significance. However, considering January 9th as Bitcoin’s “operational birthday” provides a more accurate understanding of the Bitcoin network’s evolution from a conceptual design to a functioning network.
Earlier, Marathon Digital, an American mining company, reassured its shareholders about the company’s preparedness for the forthcoming changes that Bitcoin halving will bring in 2024.