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Crypto Terms:  Letter I

What is InterPlanetary File System (IPFS)?

InterPlanetary File System (IPFS) - a peer-to-peer distributed file system that relies on a blockchain-like structure to store and share information.
2 minutes

Let's find out InterPlanetary File System (IPFS) meaning, definition in crypto, what is InterPlanetary File System (IPFS), and all other detailed facts.

The InterPlanetery File System (IPFS) is the first completely distributed and decentralized file system that relies on a blockchain-like structure to store and share information. Traditionally, information is stored on web servers with a specific location.

Blockchain-like structure means that IPFS works in the same way as a blockchain-based network of nodes does, where all data is exchanged and distributed through the nearest possible source. Thus, IPFS enables users to access content from the nearest available peer results in increased speed of access and information security.

For instance, if you want to visit a Wikipedia page, traditionally you would type in an HTTP address in a web browser which would forward you to a page hosted on one of Wikipedia’s servers. If you want to visit the same page through IPFS Gateway, you would be forwarded to that page through the nearest computer that recently accessed it.

One of the main benefits of IPFS is that it relies on content addressing to recall relevant information rather than accessing it through a specific location as it is with traditional file systems.

To put it simply, imagine that you go to a library and ask for a book by its title – this would be like content addressing. However, if you go to a library and ask for a book that’s located on the 5th row of aisle 9, it would be like location-based searching. Thus, IPFS relies on relevant content keywords to search for information rather than a specific location it is stored in.

Because of its versatility and security, IPFS is quickly becoming the industry standard in blockchain projects. IPFS has become an important tool for non-fungible token (NFT) marketplaces to store information about the items they publish.