Evernode
Crypto Overview
Purpose and Utility
Evernode is a protocol built on the XRP Ledger designed to provide decentralized hosting infrastructure for XRPL Hooks, which are smart contract-like features. The EVR token serves as a utility token within this ecosystem, used for paying hosting fees and participating in the network's governance.
Business Model
The protocol aims to create a marketplace where users can run Hook hosting services (called 'Hosters') and earn EVR tokens in exchange. Clients pay for Hook execution using EVR tokens. This model appears to involve legitimate exchange of value and services, without any elements of riba or gambling.
Development and Adoption
The project is in active development with regular GitHub commits and technical updates. While still in its early stages, the development team maintains transparency about progress through detailed documentation and community updates. The protocol is designed to solve a specific technical challenge in the XRPL ecosystem.
Token Distribution
EVR has a fixed supply of 1 billion tokens. The distribution includes allocations for development (30%), community incentives (40%), and ecosystem growth (30%). There are vesting schedules in place for team allocations, showing consideration for long-term sustainability.
Crypto Impact
To assign a comfort level investing in Evernode 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 Evernode.
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.