comprehending the power of the first thing we’ll need to do is understand dns here…Domains For Bitcoins…
utilizing examples so that’s precisely what we’re going to be using to help you understand dns so dns means domain service which is an expensive method of saying that it is a handy service which permits us humans to enter human legible addresses into the search bar and then it will automatically turn them into maker understandable addresses so the majority of you are probably acquainted with ip addresses and those are precisely how a computer system at one end of the internet knows how to talk particularly to another computer system elsewhere and not simply yell it into the void that is the web when you type 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 finds out and goes to where google is tells them
that you are looking for them and then gets a bundle back to send out to you now the bundle is then unpacked by your computer to reveal you the totality of the google.com web page using complex math and software all of this communication takes place behind the scenes however to you it’s easy and user friendly in fact if we needed to key in 220.127.116.11 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 nets because 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 essentially the same thing that i simply discussed other than it’s for ethereum ens means
ethereum name service and practically 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 feel free to leave a like listed below it’s free and it rewards all our effort on this video and the past hundred that we have actually been really hard at work creating however anyways if you’re not utilized to understanding the alternative to sharing white boards crypto.eth with someone is i ‘d have to share them this i can’t tell somebody that and i could not reliably type that into a computer you have to copy and paste it and that is essentially what ens does is equate
As you most likely already 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 know the painstaking moments between when you send crypto, to when it comes to the destination, praying to the that the address was right.
The reverse is likewise true, state someone wants to send you some and they screw up even a single digit, good luck inquiring to resend more after they simply lost their funds. This is extremely bothersome, specifically if you are attempting to run an organization and are depending on payments, with your clients all risking of entering your receiving address improperly.