comprehending the power of the first thing we’ll require to do is comprehend dns here…Crypto Domain Names…
utilizing examples so that’s precisely what we’re going to be using to assist you comprehend dns so dns means domain name service which is an elegant way of saying that it is an useful service which enables us people to type in human readable addresses into the search bar and after that it will immediately turn them into machine understandable addresses so most of you are most likely familiar with ip addresses and those are precisely how a computer at one end of the internet understands how to talk specifically to another computer somewhere else and not simply shriek it into the void 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 trying to find them and after that grabs a bundle back to send to you now the bundle is then unpacked by your computer to show you the entirety of the google.com web page utilizing complex math and software all of this communication takes place behind the scenes but to you it’s simple and easy to use in fact if we needed to enter 18.104.22.168 into the url bar instead of google.com a lot more individuals would be puzzled right we do not speak in numbers or ip addresses we speak in dot coms dot orgs and nets due to the fact that it makes good sense to us so that’s essentially what a dns is a translator for people to speak machine code next up let’s see how this works for crypto ens is basically the exact same thing that i simply mentioned other than it’s for ethereum ens represents
ethereum name service and pretty much lets me tell 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 do not have 20 and you want to support the channel do not hesitate to leave a like listed below it’s complimentary and it rewards all our hard work on this video and the past hundred that we have actually been really hard at work producing however anyways if you’re not used to comprehending the option to sharing whiteboard crypto.eth with somebody is i ‘d need to share them this i can’t tell somebody that and i couldn’t reliably type that into a computer system you need to copy and paste it and that is basically what ens does is translate
As you likely already know, crypto transactions are irreversible. So, when you send out character, extremely long ERC-20 address and heaven forbid you screw up one character, you could be sending your preciousinto oblivion never to be seen again. All of us 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 real, state somebody wishes to send you some and they ruin even a single digit, all the best inquiring to resend more after they simply lost their funds. This is extremely troublesome, especially if you are trying to run a company and are depending on payments, with your customers all risking of entering your getting address incorrectly.