understanding the power of the first thing we’ll require to do is comprehend dns here…Unstoppable Domains Vs Namecoin…
utilizing examples so that’s exactly what we’re going to be utilizing to help you comprehend dns so dns means domain service which is an expensive way of saying that it is a helpful service which permits us humans to key in human understandable addresses into the search bar and after that it will automatically turn them into maker readable addresses so most of you are probably familiar with ip addresses and those are exactly how a computer system at one end of the internet knows how to talk particularly to another computer system somewhere else and not simply shriek 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 saying 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 grabs a bundle back to send out to you now the package is then unpacked by your computer to show you the totality of the google.com web page using complicated mathematics and software 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 enter 184.108.40.206 into the url bar instead of google.com a lot more people would be puzzled right we do not 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 discussed except it’s for ethereum ens means
ethereum name service and pretty much lets me tell you that whiteboardcrypto.eth is my wallet address so you can just type that in and pay me 20 if you desire by the way if you do not have 20 and you wish to support the channel do not hesitate to leave a like listed 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 understanding the option to sharing whiteboard crypto.eth with somebody is i ‘d need to share them this i can’t tell someone 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 translate
As you likely already understand, crypto transactions are irreparable. When you send out character, unbelievably 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 between when you send crypto, to when it arrives at the destination, praying to the that the address was right.
The reverse is also true, state somebody wishes 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 bothersome, especially if you are attempting to run a service and are relying on payments, with your customers all running the risk of entering your receiving address improperly.