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.

Polygon

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).

	Polygon	Bitcoin
Created by	Jaynti Kanani, Sandeep Nailwa, Anurag Arjun, and Mihailo Bjelic	Satoshi Nakamoto
Native token	MATIC	BTC
Consensus algorithm	PoS	PoW
Hashing algorithm	KECCAK-256	SHA-256
Supports EVM	Yes	No
TPS	7000	5
Block time (secs)	2	600
Layer	2	1
Supports smart contracts	Yes	No
Average transaction fee	$0.018	$5.0973
Staking rewards (APR)	4.78%	0%

Polygon vs. Bitcoin

Overview

Table of Contents

Comparison

Is Polygon faster than Bitcoin?

Is Polygon cheaper than Bitcoin?