comprehending the power of the first thing we’ll need to do is understand dns here….Eth Domain Names…
using examples so that’s precisely what we’re going to be using to help you understand dns so dns stands for domain service which is an elegant way of stating that it is an useful service which permits us people to key in human legible addresses into the search bar and after that it will automatically turn them into machine understandable addresses so the majority of you are probably familiar with ip addresses and those are precisely how a computer system at one end of the web understands how to talk particularly to another computer elsewhere and not simply yell it into the abyss that is the web when you key in google.com and you struck enter your computer sends out a message to your internet service provider saying 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 bundle back to send to you now the package is then unpacked by your computer to reveal you the whole of the google.com web page using complex mathematics and software all of this interaction occurs behind the scenes however to you it’s simple and user friendly 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 internet since it makes 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 pointed out other than it’s for ethereum ens stands for
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 want by the way if you don’t have 20 and you want to support the channel feel free to leave a like listed 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 creating however anyways if you’re not used to understanding the alternative to sharing white boards crypto.eth with somebody is i ‘d have to share them this i can’t tell someone that and i couldn’t dependably type that into a computer system you need to copy and paste it which is basically what ens does is equate
As you likely already understand, crypto transactions are permanent. So, when you send character, unbelievably long ERC-20 address and paradise forbid you screw up one character, you could be sending your preciousinto oblivion never ever to be seen once again. We all understand the painstaking minutes in between when you send crypto, to when it arrives at the location, praying to the that the address was proper.
The reverse is likewise true, say somebody wants to send you some and they screw up even a single digit, good luck asking them to resend more after they simply lost their funds. This is extremely problematic, particularly if you are trying to run a company and are depending on payments, with your consumers all risking of entering your getting address improperly.