From the very start of its existence with the Genesis Block, the Bitcoin blockchain has been recorded every single transaction made on it. Transactions on the Bitcoin blockchain are anonymous, with the sender and recipient’s identities hidden, but are still traceable because of wallet addresses. If you know someone’s wallet address, then you can view all of their transactions and current balance.
We have no way of knowing exactly how much Bitcoin Satoshi Nakamoto holds as an individual — for all we know this mysterious individual may have five, ten or even 100 different wallets. But because we know that Nakamoto created Bitcoin, and therefore the Genesis Block, we can start to get an idea.
The Genesis Block was the first block of the Bitcoin blockchain and was created by Satoshi Nakamoto on 3 January 2009. The blocks that make up the blockchain consist of data sets where network transaction and confirmation records are stored in both encrypted and open forms.
The Genesis Block, which acts as Bitcoin’s anchor, differs from other blocks on the blockchain — the first 50 Bitcoin generated from it are all non-spendable and are non-transferrable. This initial block was the starting point for both Bitcoin and all the other cryptocurrencies that use Bitcoin’s infrastructure.
Bitcoin, including its genesis block and blockchain, was a project Satoshi Nakamoto undertook voluntarily. He was later helped by open-source software developers. To this day, volunteers continue to self-finance the development of the Bitcoin protocol.
The address that hosts the first 50 Bitcoin — 1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa — has become quite famous in the cryptocurrency community. People make donations to the address as a tribute to Nakamoto and, at the time of writing, around 20 Bitcoin has been gifted to it so far.
Have you heard about Brink?
Brink is a non-profit organisation that provides funding, training and mentoring to the software developers pushing the Bitcoin network. Brink’s fellowship programme offers financial support and guidance to those creating open-source Bitcoin software. Another programme supports the work of Bitcoin protocol engineers with targeted grants.
On March 2021, BtcTurk became a key sponsor of Brink, donating $210,000 to the initiative. This gesture helps software developers and engineers directly and in turn helps to maintain and improve the Bitcoin network. The sum donated by BtcTurk will be used specifically for the scholarship and grant programmes.
BtcTurk continue to look for ways to ensure that the Bitcoin network and community are healthy, solidifying their belief in the cryptocurrency.