IPFS

IPFS stands for InterPlanetary File System. It’s a protocol and network designed to create a content-addressable, peer-to-peer method of storing and sharing hypermedia in a distributed file system. It was developed by Protocol Labs and is an open-source project.

IPFS was created to make the web faster, safer, and more open. Here’s how it does it:

1. Decentralization: Unlike the traditional method of data storage on the web (where information is stored on central servers), IPFS is built around a decentralized system of user-operators who hold a portion of the overall data, creating a resilient system of file storage and sharing.
2. Content Addressing: Each file and all of the blocks within it are given a unique fingerprint called a cryptographic hash. When looking up files, you’re asking the network to find nodes that are storing the content behind that file’s hash. This means content is distributed and found by what it is, not where it’s stored, making the system secure and efficient.
3. Versioning: IPFS is based on the Git protocol, so it also supports versioning, which is useful for system backups and configurations.
4. Censorship resistance: As it’s distributed, it’s difficult for any single authority to censor content.

The potential applications of IPFS span a wide range of industries, from website hosting and public data archiving to large datasets sharing, and even decentralized applications when used in combination with blockchain technology. For example, it is often used with Ethereum in developing decentralized apps (DApps) for secure, reliable, and fast file storage and retrieval.