What is the BlockChain ?

The blockchain is a chain of blocks where each block contains data of value without any central supervision. It is cryptographically secure and immutable.

A blockchain is a digitized, decentralized, public ledger of all cryptocurrency transactions. Constantly growing as ‘completed’ blocks (the most recent transactions) are recorded and added to it in chronological order, it allows market participants to keep track of digital currency transactions without central recordkeeping. Each node (a computer connected to the network) gets a copy of the blockchain, which is downloaded automatically.

Originally developed as the accounting method for the virtual currency Bitcoin, blockchains – which use what's known as distributed ledger technology (DLT) – are appearing in a variety of commercial applications today. Currently, the technology is primarily used to verify transactions, within digital currencies though it is possible to digitize, code and insert practically any document into the blockchain. Doing so creates an indelible record that cannot be changed; furthermore, the record’s authenticity can be verified by the entire community using the blockchain instead of a single centralized authority.

Blockchain's removal of almost all human involvement in processing is particularly beneficial in cross-border trades, which usually take much longer because of time-zone issues and the fact that all parties must confirm payment processing. Blockchain systems can set up smart contracts or payments triggered when certain conditions are met. The blockchain cotton transaction mentioned above, for example, use of a smart contract that automatically made partial payments when the cotton shipment reached specific geographic milestones.

List of Australian Cryptocurrency Exchanges (AUD)

Full list of Australian bitcoin and other alt coin exchanges which trade in Australian Dollars (AUD)

CoinSpot

CoinSpot is one of Australia’s leading exchanges with the largest selection of blockchain assets of any Australian exchange

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Independent Reserve

IR is a Sydney based digital Currency exchange, providing a secure and trustworthy place for customers to buy and sell Bitcoin and Ethereum

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CoinJar

Coinjar is a Melbourne-founded startup that allows Australians to trade, store, spend and receive bitcoin and are trustworthy

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CoinBase

Founded in June of 2012, Coinbase is a digital currency wallet and platform where merchants and consumers can transact with new digital currencies

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