comprehending the power of the first thing we’ll require to do is understand dns here…Unstoppable Domains Github…
using examples so that’s exactly what we’re going to be utilizing to assist you understand dns so dns means domain name service which is an expensive method of stating that it is a valuable service which allows us people to type in human readable addresses into the search bar and after that it will instantly turn them into maker readable addresses so most of you are probably acquainted with ip addresses and those are exactly how a computer system at one end of the internet understands how to talk specifically to another computer system elsewhere and not simply shriek it into the void that is the web when you enter google.com and you hit enter your computer sends out a message to your internet service provider saying yo where’s google the internet service provider finds out and goes to where google is tells them
that you are trying to find them and after that gets a plan back to send to you now the package is then unpacked by your computer to show you the whole of the google.com home page using complicated math and software application all of this communication takes place behind the scenes but to you it’s simple and easy to use in fact if we had 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 nets since 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 very same thing that i just discussed 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 don’t have 20 and you wish to support the channel feel free to leave a like below it’s complimentary and it rewards all our effort on this video and the past hundred that we have actually been truly hard at work developing however anyways if you’re not utilized to comprehending the option to sharing white boards crypto.eth with somebody is i ‘d have to share them this i can’t inform somebody that and i couldn’t 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 know, crypto transactions are irreversible. When you send character, extremely long ERC-20 address and heaven forbid you mess up one character, you might be sending your preciousinto oblivion never ever to be seen once again. All of us understand the painstaking minutes between when you send out crypto, to when it reaches the location, praying to the that the address was correct.
The reverse is likewise real, state somebody wants to send you some and they mess up even a single digit, good luck inquiring to resend more after they simply lost their funds. This is hugely troublesome, particularly if you are trying to run a service and are relying on payments, with your consumers all risking of entering your getting address incorrectly.