How is the "Bitcoin" virtual currency produced? - FOGWHY

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Sunday, February 2, 2020

How is the "Bitcoin" virtual currency produced?




During the past few months, many news about the virtual "Bitcoin" currency have spread, and this is after the significant increase in its market value and price, as it reached 17 thousand US dollars earlier this month, but there are many questions that still baffle some, The most prominent of which is how Bitcoin is produced.

 


Bitcoin production method
Bitcoin can be produced from anywhere in the world through a process called "mining".

This process requires a long time, a strong computer, and a program dedicated to mining, which is downloaded for free from the Internet.

- The program processes complex algorithms and after that the coin is issued.

The difficulty of the operation depends on the speed and power of the device.

The currency is exchanged between one person and another through a cryptographic key.

 

It is worth noting that the value of Bitcoin now reaches one billion and 200 million dollars, and there are more than 1000 sites on the Internet that accept payment, such as stores, companies and many restaurants.

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