Launched: 2009
Founder: Satoshi Nakamoto (pseudonymous)
Purpose: Bitcoin was the first cryptocurrency and remains the most widely used. It operates on a decentralized network using blockchain technology, where transactions are verified by network nodes through cryptography. It's often viewed as a store of value and "digital gold."
Launched: 2015
Founder: Vitalik Buterin
Purpose: Ethereum introduced the concept of smart contracts, which are self-executing contracts with the terms directly written into code. It allows developers to build decentralized applications (dApps) and decentralized finance (DeFi) platforms. Its network is transitioning to a more energy-efficient proof-of-stake (PoS) consensus model.
Launched: 2012
Founders: Chris Larsen and Jed McCaleb
Purpose: XRP is primarily used for fast and low-cost cross-border payments. RippleNet, the network behind XRP, enables financial institutions to settle transactions in real-time without the need for pre-funding accounts in different countries.
4. Binance Coin (BNB)
Launched: 2017
Founder: Changpeng Zhao (CZ)
Purpose: BNB was initially created as a utility token for the Binance exchange, allowing users to pay trading fees at a discount. It has since evolved to support various applications on the Binance Smart Chain (BSC), including DeFi projects and NFTs.
5. Solana (SOL)
Launched: 2020
Founder: Anatoly Yakovenko
Purpose: Solana is known for its high-speed and low-cost transactions, processing thousands of transactions per second (TPS) due to its unique proof-of-history (PoH) consensus mechanism. It's a popular platform for DeFi, NFT projects, and decentralized apps.
Each of these cryptocurrencies has distinct use cases and strengths, contributing to their high market demand and value.
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