Major Cryptocurrencies : An overview of some of the major Cryptocurrencies

1. Bitcoin (BTC)

• Launch Year: 2009
• Creator: Satoshi Nakamoto (pseudonym)
• Purpose: Peer-to-peer electronic cash system
• Key Features:
  • Decentralized: No central authority or intermediary.
  • Limited Supply: Only 21 million bitcoins will ever exist.
  • Blockchain Technology: Uses a public ledger for transparent transactions.
  • Security: Secured by a proof-of-work consensus mechanism.

2. Ethereum (ETH)

• Launch Year: 2015
• Creator: Vitalik Buterin
• Purpose: Platform for decentralized applications (dApps) and smart contracts.
• Key Features:
  • Smart Contracts: Self-executing contracts with terms directly written into code.
  • Ethereum Virtual Machine (EVM): Executes smart contracts.
  • ERC-20 Tokens: Standard for creating tokens on the Ethereum blockchain.
  • Transition to Proof of Stake: Moving from proof-of-work to proof-of-stake (Ethereum 2.0).

3. Ripple (XRP)

• Launch Year: 2012
• Creators: Chris Larsen and Jed McCaleb
• Purpose: Facilitate fast, low-cost international payments.
• Key Features:
  • RippleNet: Network of institutional payment providers.
  • XRP Ledger: Consensus ledger used by the Ripple network.
  • Centralization: More centralized compared to other cryptocurrencies.

4. Litecoin (LTC)

• Launch Year: 2011
• Creator: Charlie Lee
• Purpose: Peer-to-peer cryptocurrency, similar to Bitcoin but with improvements.
• Key Features:
  • Faster Transactions: Block generation time of 2.5 minutes.
  • Scrypt Algorithm: Used for mining, which is less resource-intensive than Bitcoin's SHA-256.
  • Limited Supply: 84 million coins.

5. Bitcoin Cash (BCH) 

• Launch Year: 2017
• Purpose: To increase the number of transactions processed, enhancing Bitcoin's scalability.
• Key Features:
  • Larger Block Size: 8MB, later increased to 32MB.
  • Faster Transactions: Aimed at lowering transaction fees and improving transaction speed.

6. Cardano (ADA)

• Launch Year: 2017
• Creator: Charles Hoskinson
• Purpose: Platform for dApps and smart contracts, focusing on sustainability, scalability, and interoperability.
• Key Features:
  • Proof of Stake: Uses the Ouroboros PoS algorithm.
  • Layered Architecture: Separation of the ledger and smart contract computation.
  • Research-Driven: Built on peer-reviewed academic research.

7. Polkadot (DOT)

• Launch Year: 2020
• Creator: Dr. Gavin Wood
• Purpose: Facilitate a web where independent blockchains can exchange information and transactions in a trustless way.
• Key Features:
  • Interoperability: Connects multiple blockchains.
  • Shared Security: All connected chains share the same security.
  • Scalability: Allows multiple blockchains to process transactions in parallel.

8. Binance Coin (BNB)

• Launch Year: 2017
• Creator: Binance Exchange
• Purpose: Originally created as a utility token for the Binance exchange.
• Key Features:
  • Utility Token: Used to pay for transaction fees on Binance at a discount.
  • Binance Smart Chain (BSC): Platform for dApps and DeFi projects.
  • Burn Mechanism: Periodic burning of BNB to reduce supply and increase value.

9. Chainlink (LINK)

• Launch Year: 2017
• Purpose: Decentralized oracle network to securely connect smart contracts with real-world data.
• Key Features:
  • Oracles: Provide reliable data feeds to smart contracts.
  • Decentralization: Ensures data is tamper-proof and trustworthy.
  • Partnerships: Collaborates with various blockchains and data providers.

10. Stellar (XLM)

• Launch Year: 2014
• Creator: Jed McCaleb
• Purpose: Facilitate low-cost, cross-border payments.
• Key Features:
  • Stellar Consensus Protocol (SCP): Ensures decentralized control, low latency, and flexible trust.
  • Anchors: Entities that issue digital credits (tokens) in the Stellar network.
  • Focus on Developing Economies: Targeting unbanked populations.

11. Dogecoin (DOGE)

• Launch Year: 2013
• Creators: Billy Markus and Jackson Palmer
• Purpose: Initially created as a joke, but has since found a niche as a tipping and charitable currency.
• Key Features:
  • Shiba Inu Meme: Features the Shiba Inu dog from the "Doge" meme.
  • Community-Driven: Strong and active community supporting various charitable causes.
  • Inflationary Supply: No maximum supply, with new coins mined every year.

12. Solana (SOL)

• Launch Year: 2020
• Creator: Anatoly Yakovenko
• Purpose: High-performance blockchain for decentralized applications and crypto-currencies.
• 
  
• Key Features:
  • Proof of History (PoH): Unique consensus mechanism to achieve high throughput.
  • Scalability: Capable of handling thousands of transactions per second.
  • Low Fees: Designed to have low transaction costs.