Mars Bars and Crypto Tokens

TL;DR

A typical sample is: Of us 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 (also known as ‘ENS’) in an interview. Shortly after that, a token of the identical title shot up in value.

Crypto buyers 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 device than an funding asset.

Full Story

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

There was no further advertising spend…no new advert campaigns…however for no matter purpose – people could not get sufficient of the chocolate n’ caramel lined nougat.

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

It was all completely subliminal!

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

All with out understanding how the 2 have been related.

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

Vitalik Buterin (aka ETH Daddy), talked about Ethereum Identify Service (also known as ‘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 related names, they’re two very various things.

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

You possibly can go surfing → buy yourname.eth → personal that area on the Ethereum blockchain for a set period of time.

However Web3 is decentralized, which implies there is no central firm/corporations managing the acquisition/change 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) method of claiming “a company that anybody can be a part of, which helps handle the Ethereum Identify Service protocol.”

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

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

For those who maintain ENS tokens, you possibly can submit proposals to tweak/change how ENS area system capabilities, solid votes and handle future improvement…

So when Vitalik stated ENS is “an essential part of layer 2 improvement”…

Crypto buyers 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 device than an funding asset.

What a enjoyable/bizarre world we stay in.