understanding the power of the first thing we’ll need to do is understand dns here…Unstoppable Domains Twitter…
using examples so that’s precisely what we’re going to be utilizing to help you understand dns so dns stands for domain name service which is an elegant way of saying that it is a valuable service which permits us humans to key in human understandable addresses into the search bar and after that it will automatically turn them into machine understandable addresses so the majority of you are probably acquainted with ip addresses and those are precisely how a computer system at one end of the internet knows how to talk particularly to another computer system somewhere else and not just shriek it into the abyss that is the web when you key in google.com and you struck enter your computer system sends out a message to your internet service provider saying yo where’s google the internet service provider learns and goes to where google is tells them
that you are looking for them and after that grabs a package back to send to you now the plan is then unpacked by your computer to show you the totality of the google.com home page utilizing complex math and software application all of this communication takes place behind the scenes however to you it’s basic and easy to use in fact if we had to key in 22.214.171.124 into the url bar instead of google.com a lot more individuals would be puzzled right we do not speak in numbers or ip addresses we speak in dot coms dot orgs and nets because it makes 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 essentially the same thing that i just mentioned except it’s for ethereum ens represents
ethereum name service and pretty much lets me tell you that whiteboardcrypto.eth is my wallet address so you can merely 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 feel free to leave a like below it’s totally free and it rewards all our hard work on this video and the past hundred that we’ve been really hard at work creating but anyways if you’re not used to understanding the alternative to sharing white boards crypto.eth with somebody is i ‘d have to share them this i can’t inform someone 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 translate
As you likely already know, crypto transactions are permanent. When you send character, unbelievably long ERC-20 address and paradise forbid you mess up one character, you might be sending your preciousinto oblivion never ever to be seen again. All of us understand the painstaking moments in between when you send out crypto, to when it reaches the destination, praying to the that the address was right.
The reverse is also true, say somebody wishes to send you some and they screw up even a single digit, good luck inquiring to resend more after they just lost their funds. This is extremely troublesome, especially if you are attempting to run a company and are relying on payments, with your consumers all risking of entering your getting address improperly.