comprehending the power of the first thing we’ll need to do is understand dns here…Ipfs Unstoppable Domains…
using examples so that’s exactly what we’re going to be using to help you understand dns so dns stands for domain name service which is a fancy way of saying that it is a valuable service which allows us humans to enter human legible addresses into the search bar and after that it will instantly turn them into machine understandable addresses so most of you are most likely knowledgeable about ip addresses and those are precisely how a computer at one end of the internet knows how to talk particularly to another computer system somewhere else and not just shriek it into the abyss that is the web when you type 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 finds out and goes to where google is tells them
that you are trying to find them and after that grabs a plan back to send out to you now the plan is then unpacked by your computer system to reveal you the entirety of the google.com web page using complex mathematics and software all of this interaction occurs behind the scenes but to you it’s basic and easy to use in fact if we had to type in 126.96.36.199 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 good sense to us so that’s basically 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 pointed out other than it’s for ethereum ens represents
ethereum name service and basically lets me tell you that whiteboardcrypto.eth is my wallet address so you can simply 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 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 have actually been actually hard at work creating however anyways if you’re not used 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 translate
As you most likely currently know, crypto transactions are irreversible. So, when you send character, ridiculously long ERC-20 address and heaven forbid you ruin one character, you could be sending your preciousinto oblivion never ever to be seen again. We all know the painstaking minutes in between when you send out crypto, to when it gets to the destination, praying to the that the address was correct.
The reverse is likewise true, state someone wants to send you some and they ruin even a single digit, good luck inquiring to resend more after they simply lost their funds. This is extremely troublesome, specifically if you are attempting to run an organization and are relying on payments, with your clients all risking of entering your getting address improperly.