understanding the power of the first thing we’ll need to do is understand dns here…What Are .X Domains…
utilizing examples so that’s precisely what we’re going to be utilizing to help you comprehend dns so dns stands for domain name service which is an elegant method of stating that it is a valuable service which permits us human beings to type in human readable addresses into the search bar and after that it will instantly turn them into machine legible addresses so the majority of you are probably familiar with ip addresses and those are precisely how a computer at one end of the web knows how to talk particularly to another computer system somewhere else and not simply shriek it into the abyss that is the web when you key in google.com and you struck enter your computer 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 plan back to send to you now the plan is then unpacked by your computer system to reveal you the entirety of the google.com web page utilizing complex mathematics and software all of this interaction happens behind the scenes however to you it’s basic and easy to use 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 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 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 essentially the same thing that i just discussed except it’s for ethereum ens represents
ethereum name service and basically lets me tell you that whiteboardcrypto.eth is my wallet address so you can simply type that in and pay me 20 if you desire by the way if you don’t have 20 and you wish to support the channel feel free to leave a like listed below it’s totally free and it rewards all our effort on this video and the past hundred that we have actually been really 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 tell somebody that and i could not reliably 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. When you send out character, extremely long ERC-20 address and paradise forbid you mess up one character, you might be sending your preciousinto oblivion never ever to be seen once again. All of us understand the painstaking minutes in between when you send crypto, to when it arrives at the destination, praying to the that the address was appropriate.
The reverse is likewise real, state somebody wants to send you some and they mess up even a single digit, good luck asking them to resend more after they just lost their funds. This is hugely frustrating, especially if you are trying to run an organization and are depending on payments, with your customers all running the risk of entering your getting address incorrectly.