comprehending the power of the first thing we’ll need to do is understand dns here…Unstoppable Domains Zil Vs Crypto…
utilizing examples so that’s precisely 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 practical service which enables us human beings to key in human readable addresses into the search bar and then it will instantly turn them into device understandable addresses so most of you are most likely familiar with ip addresses and those are precisely how a computer at one end of the internet understands how to talk particularly to another computer elsewhere and not just yell 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 learns and goes to where google is tells them
that you are searching for them and after that grabs a package back to send to you now the bundle is then unpacked by your computer system to reveal you the entirety of the google.com web page utilizing complex mathematics and software application all of this communication happens behind the scenes however to you it’s basic and user friendly in fact if we needed to type in 18.104.22.168 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 people to speak machine code next up let’s see how this works for crypto ens is basically the exact same thing that i simply mentioned except it’s for ethereum ens stands for
ethereum name service and practically 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 don’t have 20 and you want 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’ve been truly hard at work producing however anyways if you’re not utilized to understanding the alternative to sharing white boards crypto.eth with somebody is i ‘d have to share them this i can’t inform somebody that and i couldn’t dependably type that into a computer system you need to copy and paste it and that is basically what ens does is equate
As you likely already understand, crypto transactions are irreversible. So, when you send character, extremely long ERC-20 address and heaven forbid you screw up one character, you could be sending your preciousinto oblivion never ever to be seen again. We all understand the painstaking minutes between when you send crypto, to when it reaches the location, praying to the that the address was proper.
The reverse is also real, say someone wants to send you some and they ruin even a single digit, good luck inquiring to resend more after they just lost their funds. This is hugely frustrating, particularly if you are trying to run a business and are counting on payments, with your clients all risking of entering your getting address incorrectly.