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

The Binance chain is the native blockchain of Binance, the world’s largest cryptocurrency exchange by trading volume. The project was born of a need for a decentralized, transparent and immutable blockchain that can be used as a public ledger for recording all transactions on the platform. The new chain will serve as the foundation for Binance’s native DEX and will also feature tools that will enable third-party developers to develop their own decentralized applications (dApps) based on the technology. Binance hopes its blockchain will “provide an underlying layer of a seamless financial infrastructure, driving rapid growth in digital asset adoption.”

	Polkadot	BNB Chain
Created by	Gavin Wood, Robert Habermeier and Peter Czaban	Changpeng Zhao
Native token	DOT	BNB
Consensus algorithm	PoS	PoS
Hashing algorithm	BLAKE2	KECCAK-256
Supports EVM	No	Yes
TPS	1000	2200
Block time (secs)	6	3
Layer	0	1
Supports smart contracts	Yes	Yes
Average transaction fee	$0.08792	$0.35
Staking rewards (APR)	14.5%	%

Polkadot vs. BNB Chain

Overview

Table of Contents

Comparison

Is Polkadot faster than BNB Chain?

Is Polkadot cheaper than BNB Chain?