On-Chain Ownership

Definition ∞ On-chain ownership refers to the verifiable record of asset possession or control that is directly recorded and maintained on a blockchain ledger. This digital proof of ownership is immutable, transparent, and secured by cryptographic principles. Unlike traditional ownership records, it typically does not rely on centralized intermediaries for verification. This concept is fundamental to the operation of digital assets.
Context ∞ On-chain ownership is a foundational element for non-fungible tokens, or NFTs, and tokenized real-world assets. It provides immutable proof of rights and facilitates transparent, permissionless transfers without the need for traditional intermediaries. News often highlights the significance of on-chain records for establishing provenance and authenticity in digital art and collectibles markets. The expansion of this concept is driving innovation in property rights and asset management within the digital economy.