Crypto evolutionism: dopamine, super gold and ecosystems

Once it has established itself, the new species begins to adapt and diversify by aiming to preserve and replicate the best characteristics. Cryptocurrency is biologically very young but, in the time tunnel of media finance, it has already started an evolution of its species that is creating the first and decisive differentiations at the DNA level. Without going to the Galapagos like Darwin or central Mongolia to witness the migration of Bitcoin miners, without having to stay glued to Musk’s Twitter page to surf the fluctuating market wave caused by his messages for us in Italy at night, some phenomenon is. it can also observe in a random navigation on the web that, starting from any search, within a few degrees of separation, still leads you to a cryptic news. According to Paul Brody, Ernst & Young’s Global Blockchain Leader, who spoke to CNBC, the “cryptocurrency” species could evolve into several market adaptations to the point that within a year, people will even be able to stop talking about cryptocurrency as a single entity. but they will have to consider dealing with three different species. 1. The Meme Coins Obviously, here we refer to dogecoin, the digital token that was born almost as a freak of nature. Its skyrocketing price, however, is not so comical considering how dogecoin has grown by more than 7,000% since the start of the year. This type of cryptic evolution can be classified as dopamine. It takes its name from dopamine, that hormone whose presence is associated with the sphere of pleasure and the mechanism of satisfaction. Financial investment methods have always been complex, mediated and boring. Now, with the new platforms for immediate access to investments and with the roller coaster of the continuous, media and potentially terrifying fluctuations of cryptocurrencies, fighting boredom with gambling is a danger but it is also a dopaminergic social phenomenon. This specific evolutionism of cryptocurrencies, however, according to Brody, will not have a great future. It could stop soon, at least at an evolutionary level. 2. Super gold Bitcoin for Brody is not like gold but it is better. It is a safe haven against inflation, like gold and other metals or hedging assets in times of crisis, but while when gold prices tend to rise, mines are called to hyper-production which, in some way, it also determines a realignment of values, the cryptocurrency is limited and for example a maximum of 21 million bitcoins can be mined. Currently there are more than 18 million around but, in short, the work of the miner is not the same if, at least apparently and for now, the vein is so tight. In this case, for Brody, if we all have some digital gold in our wallets, the evolution of the species is inevitable. 3. Ethereum, the ecosystemist This species has a kind of fitness in Ethereum, that is a quality that amplifies its reproductive success: its nature as an ecosystem. A recent example. Investor Mark Cuban, owner of the Dallas Mavericks basketball team among other things, has now focused on Polygon, a well-structured, easy-to-use platform for infrastructure development and Ethereum growth. Polygon is an Indian start-up founded in 2017 and designed to speed up and make cheaper the transactions that take place on the Ethereum network which has often been criticized precisely for the high fees of its transactions. Polygon helps decentralized finance to overcome the high costs of active transactions on Ethereum and this, together with other similar initiatives, has produced a boom in trust especially towards the cryptocurrency that feeds the network, or MATIC, which rose to + 8000% in the last year. There are long-necked giraffes that reach acacia shoots better and earlier and short-necked giraffes that may become extinct. What is certain is that the giraffe, like everything else, will evolve. Very quickly and not gradually, since, in the end, we are talking about cryptocurrencies and not about giraffes.