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.

Optimism

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).

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

Optimism vs. Bitcoin

Overview

Table of Contents

Comparison

Is Optimism faster than Bitcoin?

Is Optimism cheaper than Bitcoin?