comprehending the power of the first thing we’ll need to do is understand dns here…Ledger Unstoppable Domains…
using examples so that’s precisely what we’re going to be utilizing to help you comprehend dns so dns stands for domain service which is a fancy method of stating that it is a helpful service which allows us humans to key in human legible addresses into the search bar and then it will immediately turn them into maker legible addresses so most of you are probably knowledgeable about ip addresses and those are precisely how a computer system at one end of the internet understands how to talk specifically to another computer somewhere else and not simply scream it into the void that is the web when you key in google.com and you struck enter your computer system sends out a message to your internet service provider saying 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 package back to send out to you now the bundle is then unpacked by your computer to reveal you the entirety of the google.com home page utilizing complicated mathematics and software all of this communication happens behind the scenes but to you it’s simple and user friendly in fact if we needed to key in 220.127.116.11 into the url bar instead of google.com a lot more individuals would be puzzled right we don’t speak in numbers or ip addresses we speak in dot coms dot orgs and nets because it makes sense to us so that’s essentially what a dns is a translator for people 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 means
ethereum name service and pretty much lets me inform 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 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 producing but anyways if you’re not used to comprehending the alternative to sharing white boards crypto.eth with somebody is i ‘d need to share them this i can’t tell someone that and i could not reliably type that into a computer system you need to copy and paste it which is basically what ens does is equate
As you most likely currently know, crypto transactions are irreversible. So, when you send out character, unbelievably long ERC-20 address and paradise forbid you ruin one character, you could be sending your preciousinto oblivion never ever to be seen again. We all understand the painstaking moments in between when you send crypto, to when it gets to the location, praying to the that the address was correct.
The reverse is also true, state someone wants to send you some and they mess up even a single digit, best of luck asking to resend more after they simply lost their funds. This is extremely problematic, especially if you are attempting to run a service and are depending on payments, with your clients all risking of entering your receiving address incorrectly.