Polkadot is a blockchain platform that isn't like most blockchain platforms. It's designed to support a wide range of use cases, from financial transactions to distributed applications and even private data storage. It allows users to create their own blockchains, which can be customized in a variety of ways.

Polkadot

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).

	Polkadot	Bitcoin
Created by	Gavin Wood, Robert Habermeier and Peter Czaban	Satoshi Nakamoto
Native token	DOT	BTC
Consensus algorithm	PoS	PoW
Hashing algorithm	BLAKE2	SHA-256
Supports EVM	No	No
TPS	1000	5
Block time (secs)	6	600
Layer	0	1
Supports smart contracts	Yes	No
Average transaction fee	$0.08792	$5.0973
Staking rewards (APR)	14.5%	0%

Polkadot vs. Bitcoin

Overview

Table of Contents

Comparison

Is Polkadot faster than Bitcoin?

Is Polkadot cheaper than Bitcoin?