understanding the power of the first thing we’ll require to do is comprehend dns here…Unstoppable Domains Crunchbase…
utilizing examples so that’s precisely what we’re going to be utilizing to assist you understand dns so dns stands for domain service which is an elegant way of stating that it is a practical service which permits us people to type in human legible addresses into the search bar and then it will immediately turn them into maker understandable addresses so the majority of you are probably acquainted with ip addresses and those are precisely how a computer at one end of the web knows how to talk specifically to another computer system elsewhere and not just yell it into the void that is the web when you type in google.com and you struck 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 then gets a bundle back to send to you now the bundle is then unpacked by your computer to show you the entirety of the google.com home page using complicated math and software application all of this interaction takes place behind the scenes but to you it’s basic and user friendly in fact if we needed to key 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 internet since 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 just discussed except it’s for ethereum ens means
ethereum name service and practically lets me inform you that whiteboardcrypto.eth is my wallet address so you can merely type that in and pay me 20 if you desire by the way if you do not have 20 and you wish to support the channel feel free to leave a like below it’s free and it rewards all our hard work on this video and the past hundred that we have actually been truly hard at work producing but 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 inform someone that and i could not reliably type that into a computer system you have to copy and paste it and that is essentially what ens does is translate
As you likely already know, crypto transactions are permanent. So, when you send character, unbelievably long ERC-20 address and paradise forbid you screw up one character, you could be sending your preciousinto oblivion never to be seen once again. All of us understand the painstaking minutes between when you send out crypto, to when it comes to the destination, praying to the that the address was correct.
The reverse is likewise true, say someone wishes to send you some and they screw up even a single digit, good luck asking them to resend more after they just lost their funds. This is hugely bothersome, specifically if you are trying to run a service and are relying on payments, with your consumers all running the risk of entering your getting address improperly.