understanding the power of the first thing we’ll require to do is understand dns here…Unstoppable Domains Login…
utilizing examples so that’s exactly what we’re going to be utilizing to assist you comprehend dns so dns stands for domain name service which is an expensive way of saying that it is an useful service which allows us humans to type in human legible addresses into the search bar and then it will automatically turn them into maker understandable addresses so most of you are probably acquainted with ip addresses and those are exactly how a computer at one end of the internet knows how to talk particularly to another computer system somewhere else and not simply shout it into the void that is the web when you type in google.com and you hit enter your computer sends out 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 trying to find them and then gets a plan back to send to you now the package is then unpacked by your computer to show you the totality of the google.com web page utilizing complex mathematics and software application all of this communication takes place behind the scenes however to you it’s easy and easy to use in fact if we had to key in 18.104.22.168 into the url bar instead of google.com a lot more individuals 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 good sense to us so that’s essentially 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 just pointed out except it’s for ethereum ens stands for
ethereum name service and pretty much 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 do not have 20 and you want to support the channel feel free to leave a like listed 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 but anyways if you’re not utilized to understanding the option to sharing whiteboard crypto.eth with someone is i ‘d have to share them this i can’t tell someone that and i couldn’t reliably type that into a computer system you need to copy and paste it and that is basically what ens does is translate
As you most likely already know, crypto transactions are irreversible. So, when you send character, extremely long ERC-20 address and heaven forbid you ruin one character, you could be sending your preciousinto oblivion never ever to be seen once again. All of us understand the painstaking minutes in between when you send out crypto, to when it comes to the location, praying to the that the address was right.
The reverse is likewise real, state somebody wants to send you some and they mess up even a single digit, good luck asking to resend more after they simply lost their funds. This is hugely frustrating, specifically if you are trying to run a company and are depending on payments, with your consumers all risking of entering your getting address incorrectly.