Guides to Blockchain Related Apps InterPlanetary File System (IPFS) Guide

What is InterPlanetary File System (IPFS)? InterPlanetary File System (IPFS) is a hypermedia file system with the protocol to connect computing devices for peer-to-peer distribution and can track versions just like GIT. IPFS is built on top of decentralized file storage of operators cum users who can receive and share a portion of the overall data.

IPFS is to a moderate extent similar to Torrent, exchanging objects within one Git repository and has the potential to replace domain-based address with content-based address. Identity verification of sender on IPFS is not required; verification is instead done on the content hash which will reportedly enable page to be faster, safer and robust.

IPFS was founded by Juan Benet and its alpha version was launched in Feb 2015.



Caption: IPFS Founder, Juan Benet.

Why is IPFS needed?

The IPSE whitepaper stated that cloud storage networks including 115 Network Disk, 360 Cloud Disk and Sina Microdisk have been shut down since 2016 due to high operating cost and the difficulty in obtaining profit from cloud storage products. This was likely the reason why Internet Giants, for example, Baidu and Alibaba were able to monopolize the cloud storage market share, including price, contents, privacy, and storage space. The IPSE team argued that the monopoly compressed user’s choice space with worthy contents implicated and prevented from being shared.

To add on, IPFS can protect IPFS-based websites from DDoS attacks with content signing technology and content addressing. It can archive important contents to prevent termination of site’s operations and enables users to access offline contents with content distribution, hence allowing web applications and websites to be freed from the source server.

Filecoin Filecoin is the incentive layer of InterPlanetary File System (IPFS) that supports Smart Contracts and uses a combination of IPFS and Blockchain technology with consensus protocols that consist of Proof of Storage, Proof of Spacetime (PoST) and Proof of Replication (PoReps). Users can acquire Filecoin cryptocurrency by providing broadband resources and storage, or acquire storage and data distribution by spending Filecoin.



Caption: Filecoin Symbol.

Filecoin's working mechanisms are as follows:

1. Fundamentally a decentralized storage network (DSN).

2. Uses Proof-of-Replication (PoReps) to verify that data copy is stored in separate physical memory.

3. Uses Proof-of-Spacetime (PoST) as incentive metrics for sequential replication and storage.

4. Develops a verifiable storage and search market while managing the read and write data from Filecoin.

5. Links to other systems and manage their utilizations.

Additional Information:

Stable release: 0.4.19 on 1 Mar 2019

Repository: Github Link

Operating system: Windows, Linux, FreeBSD, macOS

Coordination: Project Group Link

Project Captain: Molly Mackinlay

Roadmap: Roadmap 2019 Link

Caption: IPFS Project Captain, Molly Mackinlay.

Disclaimer

CryptoGuide is not related to the IPFS team and product. The above guide is subject to change depending on the progress and possible modification of the IPFS ecosystem.