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 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.

	Polkadot	Monero
Created by	Gavin Wood, Robert Habermeier and Peter Czaban	Riccardo Spagni
Native token	DOT	XMR
Consensus algorithm	PoS	PoW
Hashing algorithm	BLAKE2	randomx
Supports EVM	No	No
TPS	1000	1700
Block time (secs)	6	120
Layer	0	1
Supports smart contracts	Yes	No
Average transaction fee	$0.08792	$0.001
Staking rewards (APR)	14.5%	%

Polkadot vs. Monero

Overview

Table of Contents

Comparison

Is Polkadot faster than Monero?

Is Polkadot cheaper than Monero?