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The double-spending problem, along with other problems, led to a series of major re-designs of the bitcoin software. Several rolled-back transactions and in 2011, the network upgrade to version 0.8.0, which had the most significant changes. Changes between block versions are published to the bitcoin wiki.
Genesis block
The genesis block is the first block in the chain, forming the first transaction of the blockchain. It was created on January 3, 2009, at block 1. After the system was launched, the genesis block was held by a private key that had been forgotten by its owner. This made the coinbase transaction the first spendable output. It was publicly announced on August 24, 2010, at block 237. The block itself had been mined just under 1 week previously, on August 4, 2010, at block 235. The block reward for mining the genesis block was 50 bitcoins—the first 50 bitcoins in circulation. The block reward was halved every 210,000 blocks. Between 2009 and March 2, 2011, the block reward dropped from 50 to 25 bitcoins per block.: 219–223
The first transaction in the block was a 50-bitcoin transaction that paid to genesis creator Satoshi Nakamoto the 50 bitcoins he was awarded for developing the protocol.: 219–223
Satoshi addressed the creation of the genesis block in the genesis block's first comment. His comment is usually quoted as:
Thus the first transaction in the blockchain paid Nakamoto 50 BTC to create the software; after that it is distributed to all users of the system as a reward for running nodes.
Segregated witness
Segregated Witness (segwit) is an effort to allow more transactions to be broadcast across the network without increasing the block size. This would allow fees to be lowered, while also increasing the computational efficiency of miners. The main change in the wallet software is to increase the maximum number of inputs, which each transactions may have, from 21 million to 8 * 2,000,000,000 (8 billion). The change would allow transactions with more inputs to be combined, while still having fewer than 21 million inputs.
The change was released on August 28, 2017, as version 0.16.0 of the software, and was designed in response to a debate about the increased block sizes necessary for the Lightning Network, the Layer 2 protocol which allows users to make transactions directly between each other using payment channels.:�
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