Trends in The Sustainability of Related Blockchain Technologies and Bitcoin

• DOI: 10.1109/ic2pct60090.2024.10486590
• Publication Date: 2024-04-08T20:33:40Z
• Authors: Mutyala Pavitra; Himanshu S Bardhiya; Palash Gourshettiwar

Based on an open-source software-powered peer-to-peer payment mechanism, Bitcoin is a digital currency that operates independently of central bank. Its advantages over fiat money include cheaper transaction costs, increased security, and scalability. Scientists are becoming interested in it despite concerns about illicit usage societal repercussions. This paper aims to describe assess existing patterns inside the literature sustainability bitcoin, considering social, economic, environmental implications. study, evident entire system transitioning would need exorbitant quantity energy new cryptocurrency operate virtual mine bitcoins, meaning bitcoin likely remain niche currency. A fragmented democratic maintained public record transactions built blockchain technology, which may open up difficult prospects. Block-layer state-driven cryptocurrency, sharing medical data, production distribution microgrids at citizen level, technology all gain from broad adoption blockchain-based transactions. associated technologies have potential transcend raised by many critics when seen as catalyst for social change.