The Monero blockchain is a distributed ledger that records all transactions in a permanent way. It's built on top of the Cryptonote protocol, which is a cryptocurrency protocol that isn't immutable. The Monero blockchain can be accessed with the command line tool monero-wallet-cli. Monero uses the proof-of-work (PoW) mining algorithm to hash transactions into blocks, which are then added to the Monero blockchain. PoW uses computer resources (also known as hashrate) to solve mathematical problems, which makes it costly to attack a network.

Monero

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).

	Monero	Bitcoin
Created by	Riccardo Spagni	Satoshi Nakamoto
Native token	XMR	BTC
Consensus algorithm	PoW	PoW
Hashing algorithm	randomx	SHA-256
Supports EVM	No	No
TPS	1700	5
Block time (secs)	120	600
Layer	1	1
Supports smart contracts	No	No
Average transaction fee	$0.001	$5.0973
Staking rewards (APR)	0%	0%

Monero vs. Bitcoin

Overview

Table of Contents

Comparison

Is Monero faster than Bitcoin?

Is Monero cheaper than Bitcoin?