How are bitcoins generated?

Bitcoin is the most popular cryptocurrency of nowadays and bitcoin to paypal

 transaction is quite easy.

History of bitcoin

Wei Dai is a computer engineer and cipher punk expert who proposed the idea of "cryptocurrency" in 1998. He has made a great contribution to how to protect the privacy of digital transactions using cryptography.

In 2009, an unknown person or group called Satoshi Nakamoto first created Bitcoin. Satoshi first created a database of blockchain using peer to peer networks. And after being active on the project until 2010, he left the project without revealing anything about himself.

In 2010, some people started to sell their bitcoins when 1 bitcoin is equal to only 0.20$ or It was 20 cents. After that, bitcoin become popular in 2013 and then 1 bitcoin exceeds 1000$! Bitcoin prices are currently rising.

How new Bitcoins are created

The new Bitcoin is created through decentralized and competitive process called 'Mining'. In this, competitors compete with each other on computers to solve complex mathematical puzzles. Currently, a winner is awarded 12.5bitcoins per 10minutes.