understanding the power of the first thing we’ll require to do is understand dns here…Unstoppable Domain Price…
utilizing examples so that’s exactly what we’re going to be using to help you comprehend dns so dns stands for domain service which is an expensive way of saying that it is a practical service which allows us people to key in human legible addresses into the search bar and after that it will instantly 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 web understands how to talk particularly to another computer elsewhere and not just shout it into the void 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 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 after that gets a bundle back to send to you now the package is then unpacked by your computer system to reveal you the whole of the google.com web page using complex mathematics and software application all of this communication occurs behind the scenes however to you it’s basic and easy to use in fact if we needed to type in 188.8.131.52 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 because it makes good 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 basically the same thing that i just discussed except it’s for ethereum ens represents
ethereum name service and pretty much lets me tell 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 totally free and it rewards all our hard work on this video and the past hundred that we have actually been actually hard at work creating however anyways if you’re not utilized to comprehending the option to sharing whiteboard crypto.eth with somebody 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 which is basically what ens does is equate
As you likely already understand, crypto transactions are irreversible. So, when you send character, ridiculously long ERC-20 address and heaven forbid you screw up one character, you could be sending your preciousinto oblivion never ever to be seen again. We all understand the painstaking moments between when you send out crypto, to when it reaches the location, praying to the that the address was correct.
The reverse is likewise real, say somebody wants to send you some and they ruin even a single digit, all the best asking to resend more after they just lost their funds. This is hugely bothersome, especially if you are trying to run an organization and are counting on payments, with your consumers all risking of entering your getting address incorrectly.