There are many crypto projects in Australia, and a lot of new ones are in the infantry stage. The constant increase in the number of crypto projects in Australia is partly due to the Australian government’s passive approach toward crypto regulation. And This has allowed the Aussies to conduct different crypto activities in the country.
Source @ Capital.com
According to Roy Morgan’s research, more than one million out of the 25.74 million Aussies population own at least one cryptocurrency. The research data further shows that Aussies are crypto-active, which reflects how open the country is towards new technologies. Below are some of the top popular crypto projects in Australia:
Power Ledger (POWR)- Perth
Power Ledger is the first on our list. It’s an energy trading solution that permits sellers and buyers to trade energy directly without a centralized power platform.
Furthermore, The project provides a trustless trading avenue for consumers to sell energy to their peers, enabling them to monetize their energy production. They can also access cheaper energy by purchasing it directly from others within the platform.
Immutable X (IMX)- Sydney
The second crypto project on our list of crypto projects in Australia is Immutable X. It’s the first Layer 2 scaling solution for NFTs on Ethereum. The platform is a cutting-edge solution for NFTs. It enables other projects to build in Layer 2 Ethereum using a great developer and user experience while allowing quick trading, massive scalability, and zero gas fees for trading and minting without compromising users’ data and assets’ security.
The next on our list is DigitalX, and the platform is a Perth-based blockchain company that is also on the ASX (Australian Securities Exchange). The platform is a blockchain-enhanced payment platform focused on international digital payments.
Also, DigitalX is committed to creating fintech services and products in the mobile bill payments/remittance industry. The platform became more popular in Australia after announcing it’s venturing into crypto exchanges.
Oxen (OXEN)- Melbourne
Oxen is a platform that ensures everyone has access to digital space and strong encryption technologies. OXEN offers a quick transaction privacy coin. The coins are designed with full fungibility and can’t be traced or black-listed by any centralized entity.
Furthermore, Oxen’s project developed two applications, showing its service node network and power. They’re Lokinet and Session.
Lokinet is a high-speed onion-routing solution that gives anonymous internet access. It’s compatible with all web browsers because it runs in the background rather than needing a specialized plugin or browser.
On the other hand, Session is a decentralized messaging app with more than 300,000 monthly active users. It’s one of the most popular Dapps in web3. And it uses end-to-end encryption and onion routing to offer anonymous, secure communication.
To lessen the service node emissions and tie the ecosystem together, Lokinet and Session have planned monetization features.
Haven Protocol (XHV)- Sydney
Haven is another crypto project from Australia, the platform main objective is to offer its users access to any type of good private digital assets they want.
Its ecosystem allows users to transact, store, and convert their funds into any asset type in complete privacy. The platform has three types of assets that combine to provide its users with genuine utility. They’re xUSD, XHV, and xASSETS.
Emanate (EMT)- Sydney
Emanate is a blockchain-based music platform in Sydney that unites music lovers and musicians on a quick, fair sharing and collaboration platform. It enables users to create and earn passive income.
Furthermore, the platform is more than a music streaming service; it provides transparency on users’ rights and royalty distribution while enabling collaboration to happen quickly through innovative partnerships on its live platform.
There are hundreds and thousands of Crypto or blockchain projects in Australia due to mild and neutral intervention from the government. And even though the recent FTX collapse has ignited more government regulations, there has been continued growth of cryptocurrencies and blockchain projects in the country.