comprehending the power of the first thing we’ll require to do is understand dns here…Blockchain Domain Names Unstoppable…
using examples so that’s precisely what we’re going to be utilizing to help you comprehend dns so dns stands for domain name service which is an elegant way of stating that it is a practical service which allows us human beings to type in human understandable addresses into the search bar and after that it will immediately turn them into device readable addresses so most of you are most likely knowledgeable about ip addresses and those are precisely how a computer at one end of the web knows how to talk particularly to another computer system somewhere else and not just shriek it into the void that is the web when you enter google.com and you struck enter your computer sends a message to your internet service provider saying yo where’s google the internet service provider finds out and goes to where google is tells them
that you are trying to find them and then grabs a bundle back to send out to you now the plan is then unpacked by your computer to show you the whole of the google.com home page utilizing complex mathematics and software all of this interaction takes place behind the scenes but to you it’s easy and user friendly in fact if we had to enter 22.214.171.124 into the url bar instead of google.com a lot more individuals would be puzzled right we don’t speak in numbers or ip addresses we speak in dot coms dot orgs and internet due to the fact that it makes good sense to us so that’s essentially what a dns is a translator for human beings to speak machine code next up let’s see how this works for crypto ens is essentially the very same thing that i simply discussed except it’s for ethereum ens stands for
ethereum name service and practically lets me tell you that whiteboardcrypto.eth is my wallet address so you can simply type that in and pay me 20 if you want by the way if you do not have 20 and you wish to support the channel do not hesitate to leave a like listed below it’s free and it rewards all our effort on this video and the past hundred that we’ve been really hard at work developing however anyways if you’re not used to comprehending the option to sharing whiteboard crypto.eth with somebody is i ‘d have to share them this i can’t inform somebody that and i couldn’t dependably type that into a computer you need to copy and paste it which is essentially what ens does is translate
As you most likely currently understand, crypto deals are irreversible. When you send character, unbelievably long ERC-20 address and paradise forbid you mess up one character, you might be sending your preciousinto oblivion never to be seen again. All of us understand the painstaking minutes in between when you send crypto, to when it comes to the destination, praying to the that the address was proper.
The reverse is also true, say somebody wishes to send you some and they screw up even a single digit, good luck inquiring to resend more after they just lost their funds. This is extremely bothersome, specifically if you are attempting to run a service and are counting on payments, with your consumers all risking of entering your receiving address incorrectly.