comprehending the power of the first thing we’ll need to do is comprehend dns here…Ethereum Name Service Vs Unstoppable Domains…
using examples so that’s exactly what we’re going to be utilizing to help you understand dns so dns means domain name service which is an expensive way of stating that it is an useful service which allows us humans to key in human legible addresses into the search bar and then it will immediately turn them into machine readable addresses so the majority of you are probably familiar with ip addresses and those are precisely how a computer at one end of the internet knows how to talk specifically to another computer somewhere else and not simply shriek it into the void that is the web when you key in 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 discovers and goes to where google is tells them
that you are trying to find them and then grabs a package back to send to you now the plan is then unpacked by your computer to show you the entirety of the google.com web page utilizing complicated math and software all of this communication occurs behind the scenes but to you it’s easy and easy to use in fact if we needed to key in 188.8.131.52 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 internet due to the fact that it makes good sense to us so that’s essentially 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 exact same thing that i just mentioned 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 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 totally free and it rewards all our hard work on this video and the past hundred that we’ve been really hard at work producing 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 someone that and i could not dependably type that into a computer you have to copy and paste it and that is essentially what ens does is translate
As you likely already know, crypto transactions are irreversible. So, when you send out character, unbelievably long ERC-20 address and heaven forbid you mess up one character, you could be sending your preciousinto oblivion never ever to be seen once again. We all understand the painstaking moments in between when you send out crypto, to when it comes to the location, praying to the that the address was proper.
The reverse is also real, say somebody 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 problematic, especially if you are attempting to run a business and are counting on payments, with your clients all running the risk of entering your getting address improperly.