What Is Base

Base is the blockchain network that OpenHouse runs on. It is where your property shares and transactions live.

Base in Simple Terms

Base is a "Layer 2" network built on top of Ethereum. Think of Ethereum as a busy highway and Base as an express lane. It uses the same infrastructure but moves faster and costs less.

Why OpenHouse Uses Base

Low Fees

Transactions on Base cost a fraction of a cent. On Ethereum mainnet, the same transaction might cost several dollars. This means you keep more of your investment.

Fast Transactions

Base transactions confirm in seconds. You do not wait minutes or hours for your purchase to complete.

Security

Base inherits security from Ethereum, the most battle-tested smart contract platform. Your assets benefit from years of security development and billions of dollars securing the network.

Growing Ecosystem

Base is backed by Coinbase, one of the largest cryptocurrency exchanges. It has strong developer support and a growing ecosystem of applications.

How Base Relates to Ethereum

Ethereum is the "base layer" (Layer 1). It is secure and decentralised but can be slow and expensive when busy.

Base is a Layer 2 that processes transactions off the main Ethereum chain, then posts summaries back to Ethereum. This gives you speed and low costs while keeping the security guarantees.

Your assets on Base are just as real as assets on Ethereum mainnet. They can be moved between layers if needed.

What This Means for You

As an OpenHouse user, you do not need to think about Base. The platform handles all blockchain interactions.

What you should know:

• Your USDC and property shares live on Base

• Transactions are fast and cheap

• Your wallet address works on Base

• OpenHouse pays all transaction fees, so you do not need to own ETH

Viewing Your Transactions

All transactions on Base are publicly visible. You can view them on Basescan (basescan.org), which is like a search engine for the Base blockchain.

Enter your wallet address to see:

• All transactions involving your wallet

• Your token balances

• Transaction timestamps and details

This transparency is a feature of blockchain. Anyone can verify that transactions happened as claimed.

Other Layer 2 Networks

Base is one of several Layer 2 networks. Others include Arbitrum, Optimism, and Polygon. Each has tradeoffs in speed, cost, and decentralisation.

OpenHouse chose Base for its combination of low fees, security, institutional backing, and growing adoption.