understanding the power of the first thing we’ll need to do is understand dns here…Unstoppable Domain Extension…
utilizing examples so that’s precisely what we’re going to be using to assist you comprehend dns so dns represents domain service which is an expensive way of stating that it is a helpful service which enables us human beings to key in human readable addresses into the search bar and then it will instantly turn them into machine legible addresses so the majority of you are probably knowledgeable about ip addresses and those are precisely how a computer system at one end of the web understands how to talk particularly to another computer somewhere else and not simply shout it into the void that is the web when you enter google.com and you struck enter your computer sends a message to your internet service provider saying yo where’s google the internet service provider learns and goes to where google is tells them
that you are trying to find them and then gets a package back to send out to you now the plan is then unpacked by your computer to show you the entirety of the google.com web page using complex mathematics and software all of this interaction takes place behind the scenes however to you it’s simple and user friendly in fact if we had to type in 220.127.116.11 into the url bar instead of google.com a lot more people 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 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 essentially the same thing that i simply pointed out 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 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 feel free 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 really hard at work creating however anyways if you’re not used to understanding the option to sharing whiteboard crypto.eth with somebody is i ‘d need to share them this i can’t inform somebody that and i could not dependably type that into a computer you have to copy and paste it which is essentially what ens does is equate
As you likely already understand, 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 to be seen again. We all understand the painstaking moments between when you send out crypto, to when it gets to the location, praying to the that the address was right.
The reverse is likewise real, state somebody wants to send you some and they mess up even a single digit, all the best asking them to resend more after they simply lost their funds. This is hugely troublesome, particularly if you are attempting to run a business and are depending on payments, with your clients all risking of entering your receiving address improperly.