Comparison and Review: Polkadot vs Bitcoin

Polkadot (DOT)

• Symbol: DOT
• Name: Polkadot
• Asset Platform ID:
• Categories: Smart Contract Platform, Polkadot Ecosystem, Layer 1 (L1)
• Market Cap Rank: 12
• Price Change Percentage (30 days): +12%

Polkadot is a scalable heterogeneous multi-chain technology that allows diverse blockchains to transfer messages, including value, in a trust-free fashion. It is a platform that enables different chains to share their unique features while pooling their security. Polkadot is flexible and can accommodate non-blockchain systems or data structures as parachains, as long as they fulfill certain criteria. The native parachains of Polkadot are developed using a Polkadot Runtime Environment SDK.

Bitcoin (BTC)

• Symbol: BTC
• Name: Bitcoin
• Asset Platform ID:
• Categories: Cryptocurrency, Layer 1 (L1)
• Market Cap Rank: 1
• Price Change Percentage (30 days): -13.46%

Bitcoin is the first successful internet money based on peer-to-peer technology. It operates without the involvement of central banks or authorities in transactions and production. Bitcoin was created by an anonymous individual or group known as Satoshi Nakamoto and remains an open-source project where anyone can contribute to its development. Bitcoin is a decentralized peer-to-peer cryptocurrency that enables secure and verifiable electronic transfers with low transaction fees and without the need for a central authority or bank. It uses the SHA-256 hashing algorithm and has a limited supply of 21 million BTC. Bitcoin's success has inspired the creation of other cryptocurrencies and the innovation of technologies such as smart contracts.