understanding the power of the first thing we’ll require to do is understand dns here…Web3 Identity…
using examples so that’s exactly what we’re going to be using to assist you understand dns so dns means domain name service which is an elegant method of saying that it is a handy service which allows us humans to key in human readable addresses into the search bar and after that it will immediately turn them into maker understandable addresses so the majority of you are most likely familiar with ip addresses and those are exactly how a computer at one end of the internet knows how to talk particularly to another computer elsewhere and not just shriek it into the void that is the web when you type in google.com and you struck enter your computer system 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 then gets a bundle back to send out to you now the package is then unpacked by your computer system to reveal you the whole of the google.com web page utilizing complex mathematics and software application all of this communication occurs behind the scenes however to you it’s easy and easy to use in fact if we needed to enter 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 since it makes good sense to us so that’s basically what a dns is a translator for people to speak machine code next up let’s see how this works for crypto ens is essentially the same thing that i just discussed except it’s for ethereum ens stands for
ethereum name service and pretty much lets me tell you that whiteboardcrypto.eth is my wallet address so you can merely type that in and pay me 20 if you desire by the way if you don’t have 20 and you want to support the channel feel free to leave a like 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 producing however anyways if you’re not used to understanding the option to sharing whiteboard crypto.eth with someone is i ‘d have to share them this i can’t inform someone that and i could not reliably type that into a computer you have to copy and paste it and that is basically what ens does is translate
As you most likely already understand, crypto transactions are irreversible. When you send 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 again. We all understand the painstaking moments in between when you send out crypto, to when it arrives at the destination, praying to the that the address was proper.
The reverse is likewise true, say somebody wants to send you some and they ruin even a single digit, all the best asking them to resend more after they just lost their funds. This is hugely problematic, specifically if you are attempting to run an organization and are counting on payments, with your customers all running the risk of entering your getting address incorrectly.