Trends in The Sustainability of Related Blockchain Technologies and Bitcoin

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