understanding the power of the first thing we’ll need to do is understand dns here…Unstoppable_Domains…
using examples so that’s precisely what we’re going to be using to help you comprehend dns so dns means domain name service which is an expensive way of stating that it is a valuable service which enables us human beings to enter human legible addresses into the search bar and after that it will instantly turn them into device understandable addresses so most of you are probably knowledgeable about ip addresses and those are exactly how a computer at one end of the internet knows how to talk specifically to another computer somewhere else and not just scream it into the void that is the web when you enter google.com and you struck enter your computer system sends a message to your internet service provider saying yo where’s google the internet service provider finds out and goes to where google is tells them
that you are looking for them and then gets a package back to send out to you now the package is then unpacked by your computer to reveal you the whole of the google.com home page utilizing complicated mathematics and software all of this interaction occurs behind the scenes but to you it’s simple and user friendly in fact if we needed to key in 126.96.36.199 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 due to the fact that it makes good sense to us so that’s basically 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 basically the exact same thing that i simply pointed out other than 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 want by the way if you don’t have 20 and you wish to support the channel do not hesitate to leave a like below it’s totally free and it rewards all our effort on this video and the past hundred that we’ve been actually hard at work producing but anyways if you’re not utilized to understanding the option to sharing white boards crypto.eth with someone is i ‘d need to share them this i can’t inform somebody that and i couldn’t reliably type that into a computer you need to copy and paste it and that is essentially what ens does is equate
As you likely currently know, crypto deals are irreparable. When you send out character, extremely long ERC-20 address and heaven forbid you mess up one character, you could be sending your preciousinto oblivion never ever to be seen once again. We all know the painstaking minutes between when you send out crypto, to when it reaches the destination, praying to the that the address was proper.
The reverse is likewise true, say somebody wishes to send you some and they mess up even a single digit, all the best asking to resend more after they just lost their funds. This is extremely problematic, specifically if you are trying to run a service and are depending on payments, with your customers all running the risk of entering your getting address improperly.