understanding the power of the first thing we’ll require to do is understand dns here…Unstoppable Domains Drop…
utilizing examples so that’s exactly what we’re going to be using to help you understand dns so dns stands for domain name service which is an elegant way of saying that it is a helpful service which enables us people to key in human understandable addresses into the search bar and then it will instantly turn them into device legible addresses so most of you are most likely acquainted with ip addresses and those are exactly how a computer at one end of the internet knows how to talk specifically to another computer system somewhere else and not just shout it into the abyss that is the web when you key in google.com and you hit enter your computer sends a message to your internet service provider stating yo where’s google the internet service provider discovers and goes to where google is tells them
that you are searching for them and then grabs a package back to send to you now the bundle is then unpacked by your computer system to reveal you the whole of the google.com web page using complicated mathematics and software application all of this interaction occurs behind the scenes but to you it’s easy and user friendly in fact if we needed to type in 184.108.40.206 into the url bar instead of google.com a lot more people would be puzzled right we don’t speak in numbers or ip addresses we speak in dot coms dot orgs and internet due to the fact that it makes good sense to us so that’s basically what a dns is a translator for humans to speak machine code next up let’s see how this works for crypto ens is basically the same thing that i simply pointed out except it’s for ethereum ens means
ethereum name service and pretty much 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 below it’s complimentary and it rewards all our effort on this video and the past hundred that we’ve been actually hard at work creating but anyways if you’re not utilized to comprehending the option to sharing whiteboard crypto.eth with someone is i ‘d need to share them this i can’t tell someone that and i could not dependably type that into a computer system you have to copy and paste it and that is essentially what ens does is equate
As you most likely currently understand, crypto transactions are irreparable. When you send character, ridiculously long ERC-20 address and heaven forbid you mess up one character, you might be sending your preciousinto oblivion never ever to be seen again. We all know the painstaking moments in between when you send crypto, to when it gets to the location, praying to the that the address was appropriate.
The reverse is also real, say somebody wants to send you some and they ruin even a single digit, good luck inquiring to resend more after they simply lost their funds. This is extremely troublesome, especially if you are trying to run a company and are relying on payments, with your consumers all risking of entering your getting address incorrectly.