comprehending the power of the first thing we’ll require to do is understand dns here…Cypto Domain…
using examples so that’s exactly what we’re going to be using to assist you comprehend dns so dns represents domain service which is an expensive way of saying that it is a handy service which enables us human beings to key in human understandable addresses into the search bar and then it will immediately turn them into machine readable 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 understands how to talk specifically to another computer system elsewhere and not simply shriek it into the abyss that is the web when you key in google.com and you struck enter your computer sends 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 gets a plan back to send to you now the bundle is then unpacked by your computer system to show you the entirety of the google.com home page utilizing complicated math and software application all of this communication occurs behind the scenes however to you it’s easy and easy to use in fact if we needed to type in 220.127.116.11 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 nets because it makes 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 simply pointed out except it’s for ethereum ens means
ethereum name service and pretty much lets me tell you that whiteboardcrypto.eth is my wallet address so you can just 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 truly hard at work creating but anyways if you’re not used to understanding the option to sharing whiteboard crypto.eth with somebody is i ‘d need to share them this i can’t inform someone that and i could not dependably type that into a computer you have to copy and paste it which is basically what ens does is equate
As you likely currently know, crypto transactions are irreversible. When you send out character, extremely long ERC-20 address and heaven forbid you mess up one character, you might be sending your preciousinto oblivion never ever to be seen again. All of us understand the painstaking minutes between when you send crypto, to when it comes to the destination, praying to the that the address was appropriate.
The reverse is also true, say someone wants to send you some and they screw up even a single digit, best of luck asking them to resend more after they just lost their funds. This is hugely frustrating, particularly if you are attempting to run a business and are depending on payments, with your customers all running the risk of entering your receiving address improperly.