understanding the power of the first thing we’ll require to do is understand dns here…Eth Domain Search…
utilizing examples so that’s exactly what we’re going to be utilizing to assist you understand dns so dns stands for domain service which is an expensive method of stating that it is a handy service which enables us human beings to type in human readable addresses into the search bar and then it will automatically turn them into machine legible addresses so most of you are probably familiar with ip addresses and those are exactly how a computer system at one end of the web knows how to talk particularly 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 hit enter your computer system sends out a message to your internet service provider stating yo where’s google the internet service provider finds out and goes to where google is tells them
that you are searching for them and after that grabs a bundle back to send out to you now the package is then unpacked by your computer system to reveal you the totality of the google.com home page utilizing complex math and software application all of this interaction happens behind the scenes but to you it’s simple and user friendly in fact if we had to enter 184.108.40.206 into the url bar instead of google.com a lot more people would be confused 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 basically the exact same thing that i just mentioned except 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 just type that in and pay me 20 if you desire by the way if you don’t have 20 and you wish to support the channel do not hesitate to leave a like below it’s free and it rewards all our effort on this video and the past hundred that we’ve been truly hard at work developing however anyways if you’re not used to understanding the option to sharing white boards crypto.eth with someone 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 have to copy and paste it which is essentially what ens does is equate
As you likely already know, crypto transactions are permanent. When you send out character, unbelievably 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. We all know the painstaking moments between when you send crypto, to when it reaches the destination, praying to the that the address was proper.
The reverse is also real, say somebody wishes to send you some and they mess up even a single digit, good luck inquiring to resend more after they simply lost their funds. This is extremely bothersome, particularly if you are trying to run a company and are depending on payments, with your customers all running the risk of entering your getting address incorrectly.