understanding the power of the first thing we’ll require to do is understand dns here…Unstoppable Domains Private Key…
utilizing examples so that’s exactly what we’re going to be utilizing to help you understand dns so dns represents domain name service which is an expensive way of stating that it is a valuable service which allows us humans to type in human understandable addresses into the search bar and then it will instantly turn them into machine readable addresses so most of you are probably familiar with ip addresses and those are exactly how a computer at one end of the web understands how to talk particularly to another computer somewhere else and not just shout 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 stating yo where’s google the internet service provider learns and goes to where google is tells them
that you are looking for them and then grabs a package back to send to you now the package is then unpacked by your computer system to show you the totality of the google.com web page utilizing complicated math and software all of this communication occurs behind the scenes however to you it’s simple and easy to use in fact if we had to type in 220.127.116.11 into the url bar instead of google.com a lot more individuals would be puzzled right we don’t speak in numbers or ip addresses we speak in dot coms dot orgs and nets due to the fact that it makes sense to us so that’s essentially what a dns is a translator for human beings to speak machine code next up let’s see how this works for crypto ens is essentially the exact same thing that i simply pointed out except it’s for ethereum ens stands for
ethereum name service and pretty much lets me inform you that whiteboardcrypto.eth is my wallet address so you can simply 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 free and it rewards all our hard work on this video and the past hundred that we have actually 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 have to share them this i can’t tell somebody that and i could not dependably type that into a computer you need to copy and paste it which is basically what ens does is equate
As you likely currently understand, crypto transactions are permanent. So, when you send out character, ridiculously long ERC-20 address and heaven forbid you mess up one character, you could be sending your preciousinto oblivion never to be seen once again. We all understand the painstaking moments in between when you send out crypto, to when it gets to the destination, praying to the that the address was appropriate.
The reverse is likewise real, say someone wants to send you some and they screw up even a single digit, good luck asking to resend more after they simply lost their funds. This is extremely bothersome, particularly if you are attempting to run an organization and are depending on payments, with your customers all risking of entering your getting address incorrectly.