Scientists believe that a pocket of magma located beneath Iceland was the creating force behind the formation of Iceland itself. They theorize that hot lava from the magma pocket rose to the ocean's surface, cooled and then slowly accumulated to form an island, and eventually, Iceland.
According to LiveScience.com, the same sort of eruptions that helped to create Iceland still occur today, and Iceland continues to evolve in the process. Iceland's geological position makes it prone to volcanic eruptions. There are more than 200 volcanoes located throughout Iceland, and only around a quarter of the entire island is habitable, due to prevailing harsh conditions, including cold deserts and lava fields.