5 Cryptocurrencies Redditors are Buying in April

4. Cardano

Cardano is a cryptocurrency launched in 2017 by Charles Hoskinson, one of the co-founders of Ethereum. The Cardano network is the first coin that uses a different version of the Proof-of-Stake consensus mechanism called the Ouroboros consensus protocol. This protocol was formed after scholarly research on every stage of the Proof-of-Stake process. Some of the challenges that it aims to solve include scalability, interoperability, and sustainability. The coin has a market capitalization of more than $39 billion. 

Cardano is becoming popular as companies around the world turn to blockchain tech for solutions such as identity management and traceability. The Cardano network aims to be a premier decentralized application development platform with a multi-asset ledger and verifiable smart contracts. Cardano is already working on enterprise-level solutions for traceability.