Posts

Polkadot (DOT) vs Ethereum (ETH)

avatar of @esmeesmith
25
@esmeesmith
·
·
0 views
·
4 min read

This section is a part of Polkadot Guide. In this section we are going to compare two blockchains - Polkadot (DOT) and Ethereum (ETH).

Introduction

This guide is meant to show you unbiased feature set comparison of blockchains in discussion. Below table shows you the comparison points between the two blockchains.



Polkadot (DOT) or Ethereum (ETH)?

Each blockchain solves a different problem set in the crypto industry.

Ethereum was designed for the smart contracts and distributed finance (DeFi), which is now facing the scalability issues due to it's previous consensus algorithm which involved mining.

Polkadot on the other hand makes use of single relay chain which contains parachains that have their own governance and interoperability ecosystem. It makes use of the auctions for parachain slots. This solves the congestion and the speed issues on it's blockchain.

Conclusion

For an investor the investment depends on the usecase and the market adoption of those blockchains. For developers both these chains offer opportunity to address various pain-point use cases in the blockchain industry.

Both of these blockchains are capable of doing each others tasks through 3rd party projects being built on them to address missing features. Yet scalability, speed and the market adoption separates their use cases. So this is more of Polkadot and Ethereum scenario instead of one or the other scenario.

Posted Using LeoFinance Beta