understanding the power of the first thing we’ll need to do is comprehend dns here…Premium Unstoppable Domain…
utilizing examples so that’s exactly what we’re going to be utilizing to help you comprehend dns so dns stands for domain service which is an elegant method of saying that it is an useful service which permits us human beings to enter human readable addresses into the search bar and after that it will immediately turn them into machine readable addresses so most of you are probably acquainted with ip addresses and those are precisely how a computer at one end of the internet understands how to talk specifically to another computer somewhere else and not simply scream it into the abyss that is the web when you key in google.com and you hit enter your computer system sends a message to your internet service provider saying yo where’s google the internet service provider discovers and goes to where google is tells them
that you are looking for them and after that grabs a bundle back to send to you now the plan is then unpacked by your computer to show you the whole of the google.com web page using complex mathematics and software application all of this interaction takes place behind the scenes however to you it’s easy and user friendly in fact if we had to enter 18.104.22.168 into the url bar instead of google.com a lot more people would be confused right we do not speak in numbers or ip addresses we speak in dot coms dot orgs and webs due to the fact that it makes sense to us so that’s basically what a dns is a translator for people to speak machine code next up let’s see how this works for crypto ens is essentially the exact same thing that i simply discussed except it’s for ethereum ens stands for
ethereum name service and practically lets me inform 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 do not have 20 and you want to support the channel do not hesitate to leave a like below it’s complimentary and it rewards all our hard work on this video and the past hundred that we have actually been really hard at work producing however anyways if you’re not utilized to understanding the option to sharing white boards crypto.eth with someone is i ‘d need to share them this i can’t inform someone 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 currently know, crypto transactions are irreparable. So, when you send character, extremely 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 know the painstaking minutes between when you send out crypto, to when it gets to the destination, praying to the that the address was appropriate.
The reverse is likewise real, say somebody wants to send you some and they mess up even a single digit, best of luck asking to resend more after they just lost their funds. This is hugely troublesome, particularly if you are attempting to run a business and are counting on payments, with your customers all risking of entering your receiving address improperly.