understanding the power of the first thing we’ll require to do is comprehend dns here…Ethereum Domains For Sale…
using examples so that’s exactly what we’re going to be utilizing to help you understand dns so dns represents domain service which is an expensive way of saying that it is an useful service which enables us people to enter human readable addresses into the search bar and then it will automatically turn them into machine legible addresses so most 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 shout it into the abyss that is the web when you enter google.com and you hit enter your computer system 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 grabs a bundle back to send out to you now the bundle is then unpacked by your computer system to show you the totality of the google.com web page using complex mathematics and software all of this communication occurs behind the scenes however to you it’s simple and user friendly in fact if we had to key in 18.104.22.168 into the url bar instead of google.com a lot more individuals would be confused right we do not speak in numbers or ip addresses we speak in dot coms dot orgs and webs 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 same thing that i just pointed out other than it’s for ethereum ens stands for
ethereum name service and basically lets me tell 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 want to support the channel do not hesitate to leave a like listed below it’s free and it rewards all our hard work on this video and the past hundred that we have actually been actually hard at work producing but anyways if you’re not utilized to comprehending the option to sharing whiteboard crypto.eth with someone 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 have to copy and paste it which is essentially what ens does is equate
As you most likely already know, crypto transactions are irreparable. When you send out character, ridiculously long ERC-20 address and heaven forbid you mess up one character, you could be sending your preciousinto oblivion never ever to be seen again. All of us know the painstaking minutes in between when you send out crypto, to when it arrives at the destination, praying to the that the address was appropriate.
The reverse is also true, say somebody wants to send you some and they ruin even a single digit, good luck asking to resend more after they simply lost their funds. This is hugely troublesome, particularly if you are trying to run a business and are depending on payments, with your consumers all running the risk of entering your getting address improperly.