It had a brief existence of only sixteen months and was supplanted by the transcontinental telegraph. based on the context, what does the word "supplanted" mean?

This "it" thing had a "brief" existence of just 16 months. The way it's referred to, it seems 16 months is not a long time for this to exist. Something much bigger, the transcontinental telegraph, came along.

So "supplant" seems to mean "to replace, supersede, or surpass".