comprehending the power of the first thing we’ll need to do is comprehend dns here…Who Owns Unstoppable Domains…
using examples so that’s precisely what we’re going to be using to assist you comprehend dns so dns stands for domain name service which is an elegant way of saying that it is an useful service which allows us people to key in human understandable addresses into the search bar and after that it will instantly turn them into device legible addresses so most of you are probably acquainted with ip addresses and those are exactly how a computer at one end of the web knows how to talk specifically to another computer somewhere else and not simply shriek 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 discovers and goes to where google is tells them
that you are trying to find them and after that gets a package back to send out to you now the bundle is then unpacked by your computer system to show you the totality of the google.com home page using complex mathematics and software application all of this interaction takes place behind the scenes however to you it’s easy and easy to use in fact if we needed to key in 188.8.131.52 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 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 mentioned except it’s for ethereum ens means
ethereum name service and basically lets me inform 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 listed below it’s free and it rewards all our effort on this video and the past hundred that we’ve been truly hard at work developing but anyways if you’re not utilized to comprehending the option to sharing white boards crypto.eth with somebody is i ‘d need to share them this i can’t tell someone that and i could not dependably type that into a computer you need to copy and paste it and that is essentially what ens does is translate
As you likely already understand, crypto transactions are irreversible. 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 to be seen again. We all understand the painstaking minutes in between when you send out crypto, to when it gets to the destination, praying to the that the address was proper.
The reverse is likewise real, state someone wants to send you some and they mess up even a single digit, best of luck inquiring to resend more after they just lost their funds. This is extremely problematic, especially if you are attempting to run a business and are relying on payments, with your customers all risking of entering your receiving address incorrectly.