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TL;DR
A typical sample is: Of us hear one thing → liken it to a different (unrelated) factor of the identical identify → get a hankering for it → buy it.
Vitalik Buterin (aka ETH Daddy), talked about Ethereum Title Service (sometimes called ‘ENS’) in an interview. Shortly after that, a token of the identical identify shot up in worth.
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 linked – 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 motive…
There was no additional advertising spend…no new advert campaigns…however for no matter motive – of us 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 identify → acquired a hankering for it → bought it.
All with out understanding how the 2 have been linked.
And one thing related has simply occurred within the crypto world.
Vitalik Buterin (aka ETH Daddy), talked about Ethereum Title Service (sometimes called ‘ENS’) in an interview. Shortly after that, a token of the identical identify shot up in worth.
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 Title Service is the Web3 equal of area identify service:
You’ll be able to 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 isn’t any central firm/corporations managing the acquisition/alternate of domains like there are in Web2.
So who maintains all of it? The “Ethereum Title Service (ENS) DAO.”
Which is a complicated (but way more succinct) means of claiming “a company that anybody can be a part of, which helps handle the Ethereum Title Service protocol.”
Now, this is the place Ethereum Title Providers and ENS tokens intersect…
Of us can be a part of/assist handle the Ethereum Title Providers protocol, utilizing ENS tokens.
For those who maintain ENS tokens, you’ll be able to submit proposals to tweak/change how ENS area system features, solid votes and handle future growth…
So when Vitalik mentioned ENS is “an vital element of layer 2 growth”…
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 linked – trigger the ENS token is extra of a governance device than an funding asset.
What a enjoyable/bizarre world we dwell in.
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