Polkadot vs Ethereum
Polkadot and Ethereum 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 | Ethereum | |
|---|---|---|
| Created by | Gavin Wood, Robert Habermeier and Peter Czaban | Vitalik Buterin |
| Native token | DOT | ETH |
| Consensus algorithm | PoS | PoS |
| Hashing algorithm | BLAKE2 | KECCAK-256 |
| Supports EVM | No | Yes |
| TPS | 1000 | 27 |
| Block time (secs) | 6 | 12 |
| Layer | 0 | 1 |
| Supports smart contracts | Yes | Yes |
| Average transaction fee | $0.08792 | $17.48 |
| Staking rewards (APR) | 14.5% | 3.31% |
High-level Comparisons
Is Polkadot faster than Ethereum?
Yes, Polkadot can process 1000 transactions per second. Ethereum only processes up to 27.
Is Polkadot cheaper than Ethereum?
Yes, Polkadot has an average transaction fee of $0.08792, whereas Ethereum costs $17.48.