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 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.

	Monero	Polygon
Created by	Riccardo Spagni	Jaynti Kanani, Sandeep Nailwa, Anurag Arjun, and Mihailo Bjelic
Native token	XMR	MATIC
Consensus algorithm	PoW	PoS
Hashing algorithm	randomx	KECCAK-256
Supports EVM	No	Yes
TPS	1700	7000
Block time (secs)	120	2
Layer	1	2
Supports smart contracts	No	Yes
Average transaction fee	$0.001	$0.018
Staking rewards (APR)	0%	4.78%

Monero vs. Polygon

Overview

Table of Contents

Comparison

Is Monero faster than Polygon?

Is Monero cheaper than Polygon?