What is IPFS?

The InterPlanetary File System (IPFS) is a protocol and peer-to-peer network for storing and sharing data in a distributed file system. IPFS uses content-addressing to uniquely identify each file in a global namespace connecting all computing devices.[3]

IPFS allows users to not only receive but host content, in a similar manner to BitTorrent. As opposed to a centrally located server, 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. Any user in the network can serve a file by its content address, and other peers in the network can find and request that content from any node who has it using a distributed hash table (DHT).

IPFS was launched in an alpha version in February 2015, and by October of the same year was described by TechCrunch as "quickly spreading by word of mouth

Why IPFS Matters For The Future Of Internet Business?

we are fast approaching a point where the cost of delivering content will outstrip the benefits — and profits. The major Internet companies are already struggling to stay ahead of our content demands, with armies of engineers at companies like Akamai, Google and Amazon devoted to this one problem.

And they haven’t even seen the worst of it: Thanks to rapid adoption of low-cost smartphones, whole continents of consumers will go online in the coming decade. The Internet of Things promises to only compound this challenge, as billions of devices add their own demands on our rapidly dwindling connectivity.

We are already in desperate need for a hedge against what I call micro-singularities, in which a viral event can suddenly transfix billions of Internet users, threatening to choke the entire system in the process. (A potentially life-threatening outage, when the micro-singularity involves a natural disaster or other emergency.)

Netflix recently started researching large-scale peer-to-peer technology for streaming, an early, hopeful sign that companies of its size and reach are looking for smarter content distribution methods. Netflix, YouTube, all the bandwidth-heavy services we cherish now would thrive on an Internet remade by IPFS, dramatically reducing the cost and time to serve content.

Beyond improved service, IPFS would help the Internet grow into the system we’ve always aspired it to be at our most idealistic, but cannot become with our current protocols: Truly capable of connecting everyone around the world (even offline) to a permanent but constantly evolving expression of who we are, and aspire to be.

© 2023 By Cat Box Media LTD

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