comprehending the power of the first thing we’ll need to do is comprehend dns here…Coinbase Wallet Unstoppable Domains…
utilizing examples so that’s exactly what we’re going to be utilizing to help you understand dns so dns means domain name service which is an elegant way of saying that it is an useful service which allows us human beings to type in human legible addresses into the search bar and after that it will automatically turn them into maker readable addresses so the majority of you are most likely familiar with ip addresses and those are exactly how a computer system at one end of the internet understands how to talk specifically to another computer system somewhere else and not simply shout it into the abyss that is the web when you enter google.com and you struck enter your computer sends out a message to your internet service provider stating yo where’s google the internet service provider learns and goes to where google is tells them
that you are looking for them and then grabs a package back to send to you now the package is then unpacked by your computer system to show you the whole of the google.com home page using complex mathematics and software all of this communication happens behind the scenes but to you it’s simple and user friendly in fact if we had to type in 188.8.131.52 into the url bar instead of google.com a lot more people 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 humans to speak machine code next up let’s see how this works for crypto ens is basically the exact same thing that i just pointed out other than it’s for ethereum ens means
ethereum name service and pretty much lets me inform you that whiteboardcrypto.eth is my wallet address so you can merely type that in and pay me 20 if you want by the way if you don’t have 20 and you wish to support the channel do not hesitate to leave a like listed below it’s totally free and it rewards all our hard work on this video and the past hundred that we’ve been actually hard at work developing however anyways if you’re not used to understanding the option to sharing white boards crypto.eth with somebody is i ‘d need to share them this i can’t tell somebody that and i could not reliably type that into a computer system you need to copy and paste it which is essentially what ens does is equate
As you most likely currently know, crypto deals are permanent. So, when you send character, ridiculously long ERC-20 address and paradise forbid you mess up one character, you could be sending your preciousinto oblivion never to be seen once again. We all know the painstaking minutes between when you send crypto, to when it reaches the destination, praying to the that the address was right.
The reverse is also true, state somebody wants to send you some and they mess up even a single digit, best of luck inquiring to resend more after they simply lost their funds. This is hugely frustrating, specifically if you are trying to run a business and are counting on payments, with your clients all running the risk of entering your receiving address incorrectly.