With the rise of decentralized technologies and the increasing importance of digital assets, a new way of storing and sharing data is needed. Enter IPFS, or InterPlanetary File System, a revolutionary peer-to-peer protocol that is poised to change the way we think about the internet. In this article, we’ll take a look at what IPFS is, how it works, and why it is becoming increasingly popular in the DeFi and crypto space.
What is IPFS?
IPFS stands for InterPlanetary File System, and it is a peer-to-peer protocol for storing and sharing files. It is a distributed system that allows for the sharing of files without the need for a central server or authority. IPFS is based on the idea of possession and participation, where many people possess each others’ files and participate in making them available.
The current World Wide Web is structured on ownership and access, meaning that you get files from whoever owns them — if they choose to grant you access. This centralization leads to a number of problems, such as censorship, lack of privacy, and slow load times. IPFS solves these problems by creating a decentralized network where files are spread out across many different nodes, or computers, and can be accessed by anyone.
How Does IPFS Work?
