HOW ARE CREATED THE BITCOINS?
Ever you wondered how each bitcoin is created and where it comes from. If so, you’ve come to the right place because we will discuss the answer.
By mining is possible to create a certain amount of bitcoins, approximately every hour. Mining is to use hardware and software to approve bitcoin transactions.
Miners are people who invest their money just to approve these transactions, which is specifically rewarded through bitcoins, which come to them when Blockchain blocks are created.
But that’s not all, the Blockchain is not the only way in which workers earn bitcoins, or rather investors called miners, but also perceive a certain amount of bitcoins left for commissions on each transaction.
Annually, the amount of bitcoins created for each block is reduced by half, which will end with the end of the appearance of bitcoins by blocks that is why the miners will be fed only by commissions left by those who make exchanges by large network.
It is known in advance that the maximum amount of bitcoins you can create in this network is 21 million. It is also important to note that the growing number of mining connected to the network increases the difficulty to mine bitcoins, and as a result, the individual benefit is lower, as shown on the official website: "The miners should seek greater efficiency to reduce operating costs.”
So, we have a network that, besides being a little expensive to mine, it becomes more difficult with each user who intends to use it to get some bitcoins. However, each user evaluates the feasibility.
Besides this, there is no possible way you can modify the network parameters, customers or even the machines to generate some kind of "advantage" over other users, which makes it a completely fair system.
The highest value recorded for the difficulty of mining in this system was in 2014, reaching 2,000 million and a capacity to process 14 Petahashes/Second, which basically translates; 14,000,000,000,000,000 hashes every second.
This cryptocurrency is supported entirely by mathematics because all processes to generate bitcoins and store transactions are fully automated and created based on mathematics, which transforms directly into a decentralized currency and depends only on members of the community, miners and users performing transactions.
Unlike other common currencies dependent on currency exchange rates and domestic economy of each country or group of countries, such as the dollar, euro, among others, the cryptocurrency is virtually independent in terms of countries, remember that for this reason many people think that bitcoin is likely to become the currency of the future.