understanding the power of the first thing we’ll need to do is comprehend dns here…Unstoppable Domains Dao…
utilizing examples so that’s precisely what we’re going to be utilizing to assist you understand dns so dns stands for domain name service which is an expensive way of stating that it is an useful service which allows us people to key in human legible addresses into the search bar and after that it will automatically 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 internet knows how to talk specifically to another computer system somewhere else and not just shriek it into the void that is the web when you key in google.com and you hit enter your computer 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 after that grabs a plan back to send out to you now the bundle is then unpacked by your computer system to show you the totality of the google.com home page using complicated math and software all of this interaction takes place 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 people would be puzzled right we do not speak in numbers or ip addresses we speak in dot coms dot orgs and webs due to the fact that 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 exact same thing that i simply pointed out other than 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 want by the way if you do not have 20 and you wish to support the channel do not hesitate to leave a like listed below it’s totally free and it rewards all our effort on this video and the past hundred that we have actually been actually hard at work developing but anyways if you’re not used to understanding the option to sharing whiteboard crypto.eth with someone is i ‘d need to share them this i can’t inform somebody that and i could not dependably type that into a computer system you need to copy and paste it which is basically what ens does is equate
As you likely currently understand, crypto deals are permanent. 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 to be seen again. All of us know the painstaking minutes between when you send crypto, to when it gets to the location, praying to the that the address was correct.
The reverse is also true, say somebody wants to send you some and they mess up even a single digit, best of luck inquiring to resend more after they simply lost their funds. This is hugely frustrating, specifically if you are attempting to run a company and are depending on payments, with your customers all running the risk of entering your receiving address incorrectly.