Bitcoin is a decentralized digital currency that works as a medium of exchange for goods and services. It was created in 2009 by a pseudonymous programmer named Satoshi Nakamoto (believed to be a Japanese man) as an alternative to other existing forms of currency, which are controlled by national governments and monetary authorities. Similar to cash, Bitcoin only exists digitally, but unlike cash it can be used to buy things electronically, like online goods or services. Bitcoin is made possible by a technology known as blockchain, which acts as the underlying infrastructure that makes facilitating transactions possible without the need of a third party (for example, banks).

Bitcoin

The Optimism blockchain is a distributed, peer-to-peer database that allows users to store and share their own information, including text, photos, and videos. The blockchain is completely open source and has a public ledger for transparency.

	Bitcoin	Optimism
Created by	Satoshi Nakamoto	Jinglan Wang, Benjamin Jones, Karl Floersch, and Kevin Ho
Native token	BTC	OP
Consensus algorithm	PoW	PoS
Hashing algorithm	SHA-256	KECCAK-256
Supports EVM	No	Yes
TPS	5	4000
Block time (secs)	600	2
Layer	1	2
Supports smart contracts	No	Yes
Average transaction fee	$5.0973	$0.141
Staking rewards (APR)	0%	%

Bitcoin vs. Optimism

Overview

Table of Contents

Comparison

Is Bitcoin faster than Optimism?

Is Bitcoin cheaper than Optimism?