understanding the power of the first thing we’ll require to do is understand dns here…Unstoppable Domains White Paper…
utilizing examples so that’s exactly what we’re going to be utilizing to assist you understand dns so dns represents domain service which is a fancy way of stating that it is an useful service which allows us human beings to key in human understandable addresses into the search bar and then it will immediately turn them into machine readable addresses so the majority of you are most likely acquainted with ip addresses and those are exactly how a computer at one end of the web knows how to talk particularly to another computer somewhere else and not simply yell it into the abyss that is the web when you type in google.com and you struck enter your computer 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 trying to find them and after that grabs a bundle back to send to you now the bundle is then unpacked by your computer to reveal you the whole of the google.com home page using complicated mathematics and software application all of this interaction 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 confused right we don’t speak in numbers or ip addresses we speak in dot coms dot orgs and nets 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 essentially the very same thing that i simply discussed except it’s for ethereum ens represents
ethereum name service and practically 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 listed below it’s totally free and it rewards all our hard work on this video and the past hundred that we’ve been actually hard at work creating but anyways if you’re not used to understanding the option to sharing whiteboard crypto.eth with somebody is i ‘d have to share them this i can’t tell someone that and i couldn’t dependably type that into a computer you need to copy and paste it which is essentially what ens does is equate
As you likely currently understand, crypto deals are irreversible. When you send out character, extremely long ERC-20 address and paradise forbid you mess up one character, you could be sending your preciousinto oblivion never to be seen once again. All of us understand the painstaking minutes between when you send out crypto, to when it comes to the location, praying to the that the address was proper.
The reverse is likewise true, state someone wishes to send you some and they mess up even a single digit, best of luck asking them to resend more after they just lost their funds. This is extremely troublesome, specifically if you are attempting to run a business and are counting on payments, with your consumers all risking of entering your receiving address incorrectly.