understanding the power of the first thing we’ll require to do is understand dns here…Unstoppable Domaine…
utilizing examples so that’s exactly what we’re going to be utilizing to help you understand dns so dns stands for domain name service which is an elegant way of saying that it is a valuable service which allows us people to key in human legible addresses into the search bar and then it will automatically turn them into maker readable addresses so most of you are most likely 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 system somewhere else and not just yell it into the void that is the web when you enter google.com and you struck enter your computer sends out 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 then gets a plan back to send to you now the package is then unpacked by your computer system to show you the entirety of the google.com home page using complex math and software application all of this communication occurs behind the scenes but to you it’s simple and easy to use in fact if we needed to key in 126.96.36.199 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 due to the fact that it makes good 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 very same thing that i simply pointed out other than it’s for ethereum ens means
ethereum name service and basically lets me inform you that whiteboardcrypto.eth is my wallet address so you can simply type that in and pay me 20 if you desire by the way if you do not have 20 and you want to support the channel do not hesitate to leave a like listed below it’s complimentary and it rewards all our effort on this video and the past hundred that we’ve been truly hard at work creating but anyways if you’re not used to understanding the option to sharing whiteboard crypto.eth with someone is i ‘d have 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 basically what ens does is translate
As you likely already know, crypto transactions are permanent. When you send character, ridiculously long ERC-20 address and paradise forbid you mess up one character, you could be sending your preciousinto oblivion never to be seen again. We all understand the painstaking minutes in between when you send crypto, to when it arrives at the destination, praying to the that the address was correct.
The reverse is also real, say somebody wants to send you some and they screw up even a single digit, good luck inquiring to resend more after they simply lost their funds. This is extremely frustrating, especially if you are attempting to run a company and are relying on payments, with your consumers all risking of entering your getting address improperly.