understanding the power of the first thing we’ll require to do is comprehend dns here…Unstoppable Nft Domains…
using examples so that’s exactly what we’re going to be utilizing to assist you understand dns so dns represents domain service which is an expensive method of saying that it is a valuable service which allows us humans to key in human readable addresses into the search bar and after that it will automatically turn them into device legible addresses so most of you are probably familiar with ip addresses and those are exactly how a computer at one end of the internet knows how to talk specifically to another computer system somewhere else and not just shout it into the abyss that is the web when you key in google.com and you hit enter your computer system 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 after that gets a bundle back to send to you now the plan is then unpacked by your computer to reveal you the totality of the google.com home page using complex math and software all of this interaction happens 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 people would be puzzled right we do not speak in numbers or ip addresses we speak in dot coms dot orgs and webs since 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 basically the very same thing that i just pointed out other than it’s for ethereum ens means
ethereum name service and practically 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 want to support the channel feel free to leave a like listed below it’s free and it rewards all our effort on this video and the past hundred that we have actually been really hard at work developing but 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 could not reliably type that into a computer you need to copy and paste it which is essentially what ens does is equate
As you likely already know, crypto transactions are irreversible. So, when you send character, unbelievably long ERC-20 address and paradise forbid you mess up one character, you could be sending your preciousinto oblivion never ever to be seen again. All of us know the painstaking minutes between when you send crypto, to when it reaches the destination, praying to the that the address was correct.
The reverse is likewise real, state someone wishes to send you some and they ruin even a single digit, best of luck inquiring to resend more after they simply lost their funds. This is hugely bothersome, especially if you are attempting to run a company and are relying on payments, with your customers all risking of entering your getting address improperly.