What Is Blockchain

A blockchain is a shared digital record that no single person controls. It tracks who owns what without needing a bank or other middleman.

The Problem Blockchain Solves

Traditionally, when you send money or transfer ownership, you rely on intermediaries: banks, lawyers, brokers. They keep the records, verify transactions, and charge fees. If they make a mistake or act dishonestly, you have a problem.

Blockchain removes the need for these intermediaries. The record is maintained by a network of computers, not a single company. Transactions are verified by math, not trust.

How It Works

Imagine a spreadsheet that thousands of computers share. When someone makes a transaction, it gets added to the spreadsheet. Every computer checks that the transaction is valid. Once confirmed, it cannot be changed.

Transactions are grouped into "blocks" and linked together in a "chain." Hence, blockchain.

Key properties:

• Decentralised: No single point of control or failure

• Transparent: Anyone can view the record

• Immutable: Past transactions cannot be altered

• Permissionless: Anyone can participate

What Blockchain Enables

Digital Ownership

You can own digital assets (tokens) that represent real things: currency, property shares, art, tickets. The blockchain proves you own them without needing a certificate or database somewhere.

Programmable Money

Smart contracts are programs that run on the blockchain. They execute automatically when conditions are met. For example: "When this property reaches its funding target, distribute shares to everyone who invested."

Global Access

Anyone with internet access can use blockchain. No bank account required. No geographic restrictions (aside from legal ones). Transactions settle in seconds, not days.

Different Blockchains

Many blockchains exist. The most well-known is Bitcoin, which handles digital currency. Ethereum introduced smart contracts and programmable applications.

OpenHouse uses Base, which is built on top of Ethereum. Base is faster and cheaper than Ethereum while maintaining its security.

What This Means for You

As an OpenHouse user, you do not need to understand blockchain technically. The platform handles everything.

What blockchain gives you:

• Ownership proof: Your property shares exist on the blockchain, not just in our database

• Transparency: All transactions are publicly verifiable

• Security: Your assets are protected by cryptography, not just company security

• Portability: Your wallet and assets are yours, independent of OpenHouse

Common Concerns

Is blockchain safe?

The technology itself is extremely secure. Most "hacks" you hear about are due to poor security practices by users or companies, not blockchain vulnerabilities.

Is blockchain bad for the environment?

Some blockchains use a lot of energy (like Bitcoin). Base uses a different system that is far more efficient. The environmental impact is minimal.

Is blockchain just for speculation?

Cryptocurrency speculation gets attention, but blockchain has practical applications. OpenHouse uses it for transparent property ownership and automated yield distribution, not speculation.