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

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.

	Monero	Optimism
Created by	Riccardo Spagni	Jinglan Wang, Benjamin Jones, Karl Floersch, and Kevin Ho
Native token	XMR	OP
Consensus algorithm	PoW	PoS
Hashing algorithm	randomx	KECCAK-256
Supports EVM	No	Yes
TPS	1700	4000
Block time (secs)	120	2
Layer	1	2
Supports smart contracts	No	Yes
Average transaction fee	$0.001	$0.141
Staking rewards (APR)	0%	%

Monero vs. Optimism

Overview

Table of Contents

Comparison

Is Monero faster than Optimism?

Is Monero cheaper than Optimism?