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 Polygon blockchain is the next generation of blockchain technology. It's a distributed ledger that allows for multiple data inputs and outputs per transaction. This gives Polygon the ability to process any type of data in a highly efficient manner. This, in turn, delivers a truly decentralized system that can be used in many different applications, namely financial transactions and data storage.

	Bitcoin	Polygon
Created by	Satoshi Nakamoto	Jaynti Kanani, Sandeep Nailwa, Anurag Arjun, and Mihailo Bjelic
Native token	BTC	MATIC
Consensus algorithm	PoW	PoS
Hashing algorithm	SHA-256	KECCAK-256
Supports EVM	No	Yes
TPS	5	7000
Block time (secs)	600	2
Layer	1	2
Supports smart contracts	No	Yes
Average transaction fee	$5.0973	$0.018
Staking rewards (APR)	0%	4.78%

Bitcoin vs. Polygon

Overview

Table of Contents

Comparison

Is Bitcoin faster than Polygon?

Is Bitcoin cheaper than Polygon?