understanding the power of the first thing we’ll require to do is comprehend dns here…Unstoppable Domains Black Friday…
using examples so that’s precisely what we’re going to be utilizing to help you understand dns so dns stands for domain name service which is a fancy method of saying that it is a valuable service which allows us humans to key in human understandable addresses into the search bar and then it will instantly turn them into machine readable addresses so the majority of you are most likely familiar with ip addresses and those are exactly how a computer at one end of the web knows how to talk specifically to another computer elsewhere and not simply shout it into the void that is the web when you key in google.com and you struck enter your computer sends out a message to your internet service provider stating yo where’s google the internet service provider learns and goes to where google is tells them
that you are searching for them and after that grabs a package back to send to you now the plan is then unpacked by your computer system to show you the whole of the google.com web page utilizing complicated mathematics and software application all of this communication takes place behind the scenes but to you it’s easy and user friendly in fact if we needed to type in 188.8.131.52 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 because it makes sense to us so that’s basically what a dns is a translator for human beings to speak machine code next up let’s see how this works for crypto ens is basically the very same thing that i just pointed out other than it’s for ethereum ens means
ethereum name service and basically lets me tell 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 don’t have 20 and you want 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’ve 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 need to share them this i can’t tell somebody that and i couldn’t reliably type that into a computer you need to copy and paste it which is basically what ens does is equate
As you most likely already know, crypto transactions are permanent. When you send out character, extremely long ERC-20 address and heaven forbid you mess up one character, you could be sending your preciousinto oblivion never to be seen again. All of us understand the painstaking moments between when you send out crypto, to when it arrives at the destination, praying to the that the address was right.
The reverse is also real, say someone wishes to send you some and they mess up even a single digit, good luck asking to resend more after they just lost their funds. This is extremely bothersome, particularly if you are attempting to run an organization and are counting on payments, with your customers all risking of entering your receiving address improperly.