Top 3 crypto coins (Bitcoin + Ethereum + Solana)

These three cryptocurrencies represent different aspects of the crypto ecosystem—Bitcoin as a store of value, Ethereum as the leader in smart contracts and DeFi, and Solana as a high-performance blockchain for decentralized applications.

1.Bitcoin (BTC)

Bitcoin, launched in 2009 by the anonymous Satoshi Nakamoto, is the first and largest cryptocurrency by market cap. Bitcoin is considered a store of value due to its limited supply of 21 million coins and often referred to as “digital gold”. It operates on a decentralized blockchain secured through Proof-of-Work (PoW), which requires miners to solve complex puzzles to validate transactions.

At the time of writing this, Bitcoin topped 93,000 dollars creating a new all-time high on the back of President-elect Donald Trump who announced promises to the crypto industry including making the U.S the crypto capital of the world.

Launched: 2009 by an anonymous creator known as Satoshi Nakamoto.

Supply Limit: 21 million BTC, which creates a deflationary nature as demand grows.

Blockchain: Bitcoin operates on its own blockchain, which is secured through Proof-of-Work (PoW), requiring miners to solve complex calculations to validate transactions.

Security and Decentralization: Bitcoin's network is one of the most decentralized and secure, with miners worldwide maintaining the blockchain.

Remittances: Used for cross-border payments due to lower fees compared to traditional banking

2.Ethereum (ETH)

Ethereum (ETH), launched in 2015 by Vitalik Buterin and other developers, revolutionized the blockchain space by enabling smart contracts and decentralized applications (dApps). Unlike Bitcoin, Ethereum doesn’t have a supply cap, but its transition to Proof-of-Stake (PoS) has made it more energy-efficient.

Ethereum is the dominant blockchain for decentralized finance (DeFi) and non-fungible tokens (NFTs), with many developers building tokens and platforms on its network. Despite its success, Ethereum faces challenges with high gas fees and scalability, though ongoing upgrades like Layer-2 solutions are designed to address these issues.

Despite Ethereum’s historical tendency to track Bitcoin’s movements, it remains below its previous record highs, currently hovering around $3,200, still short of its all-time high of $4,000.

Launched: 2015 by a group of developers, including Vitalik Buterin.

Blockchain: Ethereum operates on its own blockchain and recently transitioned to a Proof-of-Stake (PoS) model, reducing energy consumption.

Smart Contracts: Ethereum’s smart contracts allow developers to build decentralized applications, ranging from financial services (DeFi) to games and NFTs.

DeFi: Ethereum is the leading blockchain for decentralized finance, offering services such as lending, borrowing, and trading without intermediaries.

NFTs: Ethereum hosts the majority of NFT platforms, making it a go-to for digital artists and collectors.

Tokenization: Many tokens (ERC-20) are built on the Ethereum blockchain, making it central to the broader crypto ecosystem.

3.Solana (SOL)

Solana (SOL), launched in 2020 by Anatoly Yakovenko, is known for its high-speed, low-cost transactions, making it a popular blockchain for DeFi and NFTs. Solana uses a unique combination of Proof-of-History (PoH) and Proof-of-Stake (PoS) to process up to 65,000 transactions per second.

This makes it one of the fastest blockchains in the crypto space, ideal for decentralized applications (dApps) that require speed and scalability. However, Solana has faced network outages in the past, raising concerns about its reliability. Additionally, while it offers impressive performance, it is considered less decentralized than Bitcoin and Ethereum, as a smaller number of validators control its network.

In January 2023, Solana was trading just above $10.00. As of now, it’s nearing a new all-time high, trading around $220—a remarkable 22x increase over 22 months. This level of growth is extraordinary for a large-cap token, as such rallies are typically seen in smaller, undervalued tokens.

Launched: 2020 by Anatoly Yakovenko and the Solana team.

Role: Solana is designed as a high-performance blockchain with a focus on speed, low costs, and scalability, making it well-suited for decentralized finance (DeFi) and NFTs.

Blockchain: Solana’s unique design includes a combination of Proof-of-History (PoH) and Proof-of-Stake (PoS). PoH is a cryptographic clock that sequences events, enabling high-speed processing.

High-Speed Transactions: Solana’s blockchain can process up to 65,000 transactions per second (TPS) with minimal fees.

Solana is becoming popular for DeFi applications due to its low fees and fast transaction times. It’s also home to various NFT platforms. its architecture also supports the deployment of decentralized applications that can operate smoothly without high fees, making it ideal for games and marketplaces. (dApps).