Polkadot vs Bitcoin
Polkadot and Bitcoin are two popular blockchains. In this article we'll compare them across a variety of metrics. Both blockchains have their own strengths and weaknesses, and we'll explore them below.
Table of Contents
Comparing Metrics
| Polkadot | Bitcoin | |
|---|---|---|
| Created by | Gavin Wood, Robert Habermeier and Peter Czaban | Satoshi Nakamoto |
| Native token | DOT | BTC |
| Consensus algorithm | PoS | PoW |
| Hashing algorithm | BLAKE2 | SHA-256 |
| Supports EVM | No | No |
| TPS | 1000 | 5 |
| Block time (secs) | 6 | 600 |
| Layer | 0 | 1 |
| Supports smart contracts | Yes | No |
| Average transaction fee | $0.08792 | $5.0973 |
| Staking rewards (APR) | 14.5% | 0% |
High-level Comparisons
Is Polkadot faster than Bitcoin?
Yes, Polkadot can process 1000 transactions per second. Bitcoin only processes up to 5.
Is Polkadot cheaper than Bitcoin?
Yes, Polkadot has an average transaction fee of $0.08792, whereas Bitcoin costs $5.0973.