Mars Bars and Crypto Tokens

TL;DR

A typical sample is: People hear one thing → liken it to a different (unrelated) factor of the identical title → get a hankering for it → buy it.

Vitalik Buterin (aka ETH Daddy), talked about Ethereum Identify Service (sometimes called ‘ENS’) in an interview. Shortly after that, a token of the identical title shot up in value.

Crypto traders began shopping for up ENS tokens, and pushing costs up 50% in a day. All with out actually understanding how the 2 have been related – trigger the ENS token is extra of a governance instrument than an funding asset.

Full Story

Within the second quarter of 1997, gross sales of Mars Bars skyrocketed for no obvious motive…

There was no additional advertising and marketing spend…no new advert campaigns…however for no matter motive – people could not get sufficient of the chocolate n’ caramel coated nougat.

Seems, it was all due to the additional information protection being given to the Mars Pathfinder Mission that was going down on the identical time.

It was all completely subliminal!

People heard one thing → likened it to a different (unrelated) factor of the identical title → received a hankering for it → bought it.

All with out understanding how the 2 have been related.

And one thing comparable has simply occurred within the crypto world.

Vitalik Buterin (aka ETH Daddy), talked about Ethereum Identify Service (sometimes called ‘ENS’) in an interview. Shortly after that, a token of the identical title shot up in value.

It did not make sense proper off the bat, as a result of regardless of having comparable names, they’re two very various things.

The Ethereum Identify Service is the Web3 equal of area title service:

You may log on → buy yourname.eth → personal that area on the Ethereum blockchain for a set period of time.

However Web3 is decentralized, which implies there is not any central firm/corporations managing the acquisition/alternate of domains like there are in Web2.

So who maintains all of it? The “Ethereum Identify Service (ENS) DAO.”

Which is a complicated (but way more succinct) approach of claiming “a corporation that anybody can be part of, which helps handle the Ethereum Identify Service protocol.”

Now, this is the place Ethereum Identify Providers and ENS tokens intersect…

People can be part of/assist handle the Ethereum Identify Providers protocol, utilizing ENS tokens.

In the event you maintain ENS tokens, you may submit proposals to tweak/change how ENS area system features, solid votes and handle future growth…

So when Vitalik stated ENS is “an necessary element of layer 2 growth”…

Crypto traders adopted within the footsteps of Mars Bar followers from many years previous, shopping for up ENS tokens, and pushing costs up 50% in a day.

All with out actually understanding how the 2 have been related – trigger the ENS token is extra of a governance instrument than an funding asset.

What a enjoyable/bizarre world we dwell in.