Cryptocurrency
Human-readable code: Why branding is the programming language of humans
![](https://letizo.com/wp-content/uploads/2023/09/human-readable-code-why-branding-is-the-programming-language-of-humans_650d9a2dc1244.jpeg)
For too many Web3 projects, marketing is often an afterthought. The prevailing wisdom is that a visionary founder will generate a killer idea that will get VCs frothing, use their funding to hire a superstar developer (or an entire team of them) and bring the vision to life via the medium of code.
Once there’s a minimum viable product (MVP) to showcase, the project needs a user base to make this thing into a viable product. At this point, it’s time to fire up the Magical Marketing Machine, which connects to your various channels to create a nonstop value-generating stream of leads and conversions, drawn in by the irresistible lure of the initial killer idea. Once they hear about it.
This mindset isn’t helped by the stories of often inexplicable viral success that regularly punctuate the crypto headlines. But viral success isn’t the same as success. Just look at Terra’s LUNA collapse, the Squid Game scam or SafeMoon’s pump and dump for several relatively recent examples of viral “success.”
Of course, a few exceptional viral cases have managed to achieve longevity. For instance, Bored Ape Yacht Club and SushiSwap are two examples of projects that leveraged initial viral success to attain long-term recognition.
There is no formula or algorithm to guarantee viral success. But marketing, as a value-generating function of a commercial organization, is different. It has a toolkit at its disposal, and the most powerful of those tools is the brand — the programming that conveys the message of an offering to a human audience.
Effective branding relies on good code
Successful firms know that branding and marketing don’t happen by magic or according to checklist-type formulae. When it’s planned and executed well, a robust branding strategy is analogous to computer code. Blockchain developers use programming languages to translate their applications into a set of instructions that the blockchain can execute consistently. The branding strategy tells everyone in an ecosystem what messages they should be using and how to deliver them in a way that’s comprehensible and engaging.
Programming involves choosing the correct syntax and functions to generate a particular outcome efficiently, while branding involves selecting messaging that resonates and choosing the most effective ways to convey it. Solidity is Turing-complete, in that it can be used to program virtually any task. In this sense, branding as a programming language is also Turing-complete, as it can be used to craft any message you choose.
Beyond text, which already contains all the richness of tone and language, you send a message with every choice in the presentation of your offering, from colors and logos to advertising outlets and collaboration partners. Every nuance conveys the messages of your brand that will be decoded and disseminated by the world.
This is where you must beware. A Turing-complete language can also easily create unintended consequences. In blockchain terms, a bug in the code, a typo or an unknown eventuality created by an attacker may result in hacks, stolen funds and a loss of good reputation.
Marketing gaffes — a result of anyone being able to go out there and say whatever they like — can end up as PR disasters. No stolen funds, but irreparable damage to your brand will quickly hit your revenue source with precisely the same net result.
But more often than not, the worst outcome of bad branding is a massive loss of opportunity. Do you want to maximize the impact of your marketing budget? Start with your brand and its strategy.
A critical success factor or an afterthought?
It’s time for a mindset shift. Your branding is your product. After all, without recognition, the most amazing invention in the world is not a product — it’s just something someone dreamed up.
Despite the fact that branding is unquestionably a pivotal factor in commercial success, it’s baffling that Web3 founders tend to treat it as an afterthought. I’ve come across projects due to launch next month, where basic marketing planning is only just underway. I’ve also seen projects where the team is operating entirely on junior staffers with little prior experience in Web3 or marketing — let alone developing a brand from scratch.
It’s hard to imagine any founder leaving their programming to chance. How will the app perform if the only programmer has a high-school knowledge of coding? Or, what kind of quality could a star team of coders produce, given only a month for building and testing?
The more extensive and sophisticated the underlying code, the more powerful and impactful the technology. The same applies to branding.
Evaluating your stack
Ultimately, my message to Web3 founders is to examine your current branding approach and consider whether it accurately reflects the image you want your project to convey.
This may mean reexamining your overall strategy. For instance, is there a clear and consistent set of brand messages that forms the basis of all communications?
Are you confident that your marketing plans are rooted in the best possible practices for your offering and audience, and not simply a checklist of channels and touchpoints?
You may also need to evaluate time allocated to marketing and branding activities. Are there sufficiently available person-hours to generate interest and engagement ahead of a launch?
Assessing your approach may also involve evaluating your marketing talent and leveraging expertise as required. Do you have the right skills on board to develop and execute a branding strategy?
Finally, does your plan allow for activities such as testing campaign materials with target audiences or refining messages on different channels?
It’s true that all of the above activities will take time and effort and may uncover a need to invest further. But once your branding code is as robust and rigorous as your product code, you’ll already be ahead of the competition.
German is co-founder and chief relevance officer of THE RELEVANCE HOUSE, a branding and marketing agency focused on blockchain and Web3.
This article was published through Cointelegraph Innovation Circle, a vetted organization of senior executives and experts in the blockchain technology industry who are building the future through the power of connections, collaboration and thought leadership. Opinions expressed do not necessarily reflect those of Cointelegraph.
Cryptocurrency
Top 10 Solana (SOL) Ecosystem Projects by Development Activity
![](https://letizo.com/wp-content/uploads/2024/09/top-10-solana-sol-ecosystem-projects-by-developmentactivity_66dc47b18afea.jpeg)
TL;DR
- Due to recent growth, Solana and its projects have gained popularity.
- Ecosystem meme coins like Dogewifhat (WIF) and Bonk Inu (BONK) have seen significant declines after a substantial surge earlier this year.
The Unsurprising Leader
Solana and numerous projects built on it have brimming in popularity in 2024. Some factors that could have contributed to this might be SOL’s bull run at the end of 2023 and the beginning of 2024, the growing community, and innovations in the ecosystem.
The crypto analytics platform Santiment recently outlined the top 10 Solana-based projects in terms of development activity in the past 30 days.
Somewhat expected, the first spot belongs to Solana itself, which collected a score of 186.33. It is worth noting that the protocol’s native token – SOL – has been experiencing a downfall since the end of July, plunging by approximately 30% and currently trading at around $127 (per Coingecko’s data).
Wormhole holds the second position with a ratio of 90.5. It acts as a bridge connecting various blockchain networks, such as Solana, Ethereum, BNB Smart Chain, and others. It enables users to transfer digital assets and data across these blockchains without a centralized intermediary.
Pyth Network is third, with a score of 68. It operates as a decentralized oracle network where multiple providers contribute to a collective data feed.
JITO and Neon round up the top 5 list. The other Solana-based projects down the line include Drift, Orca, Helium IOT, Helium Mobile, and Metaplex.
The Missing Ones
It is interesting to note that meme coins, which are part of Solana’s ecosystem, did not make the list. Such tokens, including dogwifhat (WIF), Bonk Inu (BONK), and many more, were among the top-trending topics in the crypto space at the start of the year due to their skyrocketing prices.
However, their progress has stalled as of late. WIF – the biggest Solana-based meme coin in terms of market capitalization – currently trades at around $1.52, representing more than a 70% decline from the ATH registered in April.
BONK (the second-largest) is worth approximately $0.00001666 as of the moment, or 60% less than the peak in May.
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Cryptocurrency
These Altcoins Bleed Out as Bitcoin (BTC) Price Fell by $4K in Hours (Weekend Watch)
![](https://letizo.com/wp-content/uploads/2024/09/these-altcoins-bleed-out-as-bitcoin-btc-price-fell-by-4kin-hours-weekend-watch_66dc47b73b311.jpeg)
Bitcoin’s nosedives continued in the past 24 hours as the asset slumped from an intraday high of $57,000 to under $53,000 within hours.
The altcoins are also in the red, and the total crypto market cap has dumped to $2 trillion for the first time in over a month.
BTC’s Troubles Keep Coming
The primary cryptocurrency lost the coveted $60,000 level last week, and the true downfall followed suit. Aside from a brief attempt to overcome that line on September 3, the bears have been predominantly in control, which culminated yesterday.
Before that, it was rejected a couple of times and marked lower daily highs. A relief rally came on Friday when the US released the job report for August, which showed that there was a slight decline in the unemployment rates.
BTC reacted quickly with a price increase from $55,500 to $57,000. However, that turned out to be a false breakout, and the cryptocurrency headed south immediately after. In a matter of minutes, it plummeted to $54,000 before the bears initiated another leg down that pushed it to a monthly low of $52,700 (on Bitstamp).
Despite recovering to just over $54,000 now, it is still 4% down on the day and more than 8% in the past seven days. Its market cap has plunged to $1.070 trillion, while its dominance over the alts is down to 53.5%.
Alts in Red Yet Again
The bearish scenario repeated once again, and the altcoins are back in red. Ethereum is among the leaders in this adverse trend, having lost over 4% of value. As a result, it now struggles at $2,250. BNB is down by 3%, XRP by 3%, and SOL by 2.5%.
DOGE has dumped the most from the larger-cap alts. The OG meme coin has seen 5% of its value evaporate over the past day and is below $0.1.
Further losses come from the likes of TON, BCH, SHIB, LTC, OKB, XMR, and many others.
The total crypto market cap has declined by another $50 billion and is down to $2 trillion on CG.
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Cryptocurrency
Vitalik Buterin Pledges L2 Tokens to Support Public Goods in the Ethereum Ecosystem
![](https://letizo.com/wp-content/uploads/2024/09/vitalik-buterin-pledges-l2-tokens-to-support-public-goods-inthe-ethereum-ecosystem_66dc47bce1201.jpeg)
Ethereum co-founder Vitalik Buterin has pledged to donate all Layer 2 (L2) tokens he holds to support public goods within the Ethereum ecosystem or broader charitable causes.
This announcement comes a few days after accusations that he had sold millions in Ether (ETH) for personal gain.
Vitalik Buterin Denies Profit Motive
Buterin was quick to respond to the allegations, emphasizing that he has not sold any ETH for personal profit since 2018. Instead, he clarified that any proceeds from his ETH sales have been directed toward projects that contribute to the Ethereum ecosystem or other charitable initiatives.
In a September 5 update, he expanded on his stance, pledging to donate all L2 tokens he holds, including not-yet-liquid assets, to support similar causes.
He wrote, “All proceeds will be donated, again either to support public goods within the Ethereum ecosystem or broader charity (e.g., biomedical R&D). I also do not intend to invest into L2s or other token projects in the foreseeable future.”
He explained that his aim in funding projects is to support initiatives he believes are important, particularly in situations where other parts of the ecosystem may not fully recognize their value.
The Allegations
On August 30, an X user accused him of selling over $2 million worth of ETH shortly after posting a positive update about Ethereum’s future.
Later on, Lookonchain also revealed that Vitalik had transferred 800 ETH, worth around $2 million, to a multi-signature wallet. Shortly after, the wallet swapped 190 ETH for 477,000 USDC.
Further analysis from Lookonchain indicated that on August 9, he had moved an additional 3,000 ETH, valued at over $8 million, to the same multi-sig wallet.
These transfers fueled speculation that the Ethereum co-founder was liquidating his Ether holdings to realize profits.
Buterin had previously disclosed that his entire Ether holdings came from the Ethereum pre-mining period, which allocated 11.9 million ETH (about 10% of the total supply) to early contributors. As one of them, he received 700,000 ETH for his role in the network’s creation.
According to blockchain tracker Arkham Intelligence, his current holdings amount to approximately 240,000 ETH. This is a reduction of around 460,000 ETH from his initial stash.
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