ETHEREUM ON BASE
Crypto Overview
Overview
ETHB (Ethereum on Base) is a bridged version of Ethereum that operates on the Base network, which is a Layer 2 scaling solution built by Coinbase. Base is an Ethereum Layer 2 network that aims to provide faster and cheaper transactions while maintaining Ethereum's security guarantees.
Purpose and Utility
The primary purpose of ETHB is to serve as the bridged version of Ethereum on the Base network, enabling users to transact and interact with decentralized applications (dApps) on Base while maintaining compatibility with the Ethereum ecosystem. It functions as a medium of exchange and enables smart contract interactions on the Base network.
Business Model Analysis
The business model appears straightforward and transparent - ETHB serves as the bridged version of ETH on Base, allowing users to perform transactions and interact with dApps on this Layer 2 network. The underlying technology and use cases align with halal principles as they involve actual asset ownership and transfer of value.
Development and Adoption
Base, being backed by Coinbase, has shown significant development activity and growing adoption. The network has attracted various developers and projects building on top of it. ETHB serves as an essential component of this ecosystem, facilitating transactions and smart contract interactions.
Token Distribution and Founder Analysis
As ETHB is simply a bridged version of ETH, its distribution mirrors that of regular ETH. There are no additional token allocations or vesting schedules specific to ETHB. The token is created when users bridge their ETH to Base and destroyed when they bridge back to Ethereum mainnet.
Crypto Impact
To assign a comfort level investing in ETHEREUM ON BASE from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to ETHEREUM ON BASE.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.