understanding the power of the first thing we’ll require to do is understand dns here…Blockchain Domain…
using examples so that’s exactly what we’re going to be using to assist you understand dns so dns represents domain service which is an elegant method of saying that it is a helpful service which permits us people to key in human understandable addresses into the search bar and after that it will immediately turn them into device legible addresses so the majority of you are probably knowledgeable about ip addresses and those are precisely how a computer system at one end of the web knows how to talk specifically to another computer somewhere else and not just shout it into the abyss that is the web when you key in google.com and you struck enter your computer system sends a message to your internet service provider saying yo where’s google the internet service provider discovers and goes to where google is tells them
that you are searching for them and then gets a bundle back to send out to you now the bundle is then unpacked by your computer system to reveal you the whole of the google.com web page using 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 needed to key in 22.214.171.124 into the url bar instead of google.com a lot more individuals would be confused right we do not speak in numbers or ip addresses we speak in dot coms dot orgs and nets because it makes good sense to us so that’s basically 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 mentioned except it’s for ethereum ens stands for
ethereum name service and basically lets me inform you that whiteboardcrypto.eth is my wallet address so you can merely type that in and pay me 20 if you desire by the way if you don’t have 20 and you want to support the channel feel free to leave a like below it’s totally free and it rewards all our effort on this video and the past hundred that we’ve been truly hard at work producing but anyways if you’re not utilized to understanding the option to sharing whiteboard crypto.eth with somebody is i ‘d need to share them this i can’t tell someone that and i couldn’t reliably type that into a computer system you need to copy and paste it which is basically what ens does is equate
As you likely currently understand, crypto transactions are permanent. So, when you send character, extremely long ERC-20 address and paradise forbid you mess up one character, you could be sending your preciousinto oblivion never ever to be seen again. All of us understand the painstaking minutes between when you send out crypto, to when it reaches the location, praying to the that the address was proper.
The reverse is also real, state somebody wants to send you some and they screw up even a single digit, good luck asking them to resend more after they just lost their funds. This is hugely frustrating, especially if you are trying to run a company and are depending on payments, with your customers all risking of entering your getting address improperly.