5 Cryptocurrencies Redditors are Buying in April

2. Terra

Terra is a blockchain network that aims to create mass payment mechanics for the crypto world and also provide a reliable stablecoin for the process. It uses a Proof-of-Stake consensus mechanism. The Terra network hosts a bunch of stablecoins whose prices are tied to physical currencies. However, instead of using the coins as a reserve, the network uses an algorithm to track the prices of different currencies. Like other stablecoins, the coin is one of the most liquid ones on the market. 

Terraform Labs, the company that oversees all developments related to Terra, has said that top firms like Arrington Capital, Lightspeed Venture Partners, and Pantera Capital have pledged nearly $150 million to the Terra platform to help develop the system. Terraform Lans was founded in 2018 by Daniel Shin and Kwon. The latter is a former Microsoft employee.