IPFS Protocol: What You Need to Know About

Have you ever heard about it? This tech could make the internet even more interesting when we’re talking about sharing data from a peer-to-peer perspective.

Inter Planetary File System (IPFS) aims to solve some limitations that are currently present in the client-server model. It’s an open-source project made by Protocol Labs — and you’ll probably hear about them more often soon.

After all, many developers are contributing to the project and making him more robust and reliable.

How does it work?

IPFS is a peer-to-peer (p2p) storage network — a file system, so to say. It’s important to say that IPFS is NOT a blockchain — but it COULD be used in some blockchain scenarios. We’ll get back to it soon.

Through this technology, you are able to use contact addresses to find what you’re looking for in a different way.

Imagine that you’re into the 1980s and wish to rent a VHS movie. You can ask for a specific movie by its title — that’s content addressing. However, if you tell the shop clerk that you’re looking for “the red tape that’s at the second shelf to his right”, maybe someone moved your desired item away and you’ll not be able to find it.

But IPFS creates a content identifier (CID) that can be used to find what you’re looking for in no time!

IPFS and Filecoin

Filecoin is a complementary project that is being developed into the Ethereum blockchain that safely stores data while IPFS serves as a reliable file system through its content identifier technology.

Protocol Labs is behind the development of both IPFS and Filecoin. Through the last one, it’s possible to add economic incentives to file storage on IPFS and that enables competition against big companies that provide cloud storage (Amazon, Microsoft, etc.).

But one of its biggest differences is the possibility to create decentralized web solutions. Prices can be determined freely and according to the user’s needs.

IPFS and NFT

While non-fungible tokens are great to guarantee that you’re the sole owner of something inside the internet, IPFS will help you make sure that your content will always be the same as they were when the NFT you bought was released.

Through CID, nobody can replace the original data present inside your NFT. That’s an additional security layer that grants legitimacy.

In short, it’s possible to mint an NFT using IPFS. Your minted files are guaranteed to be the same. That ensures the reliability of non-fungible tokens in a revolutionary way.

The bottom line

Things that make internet content more trustworthy are always welcome — and IPFS certainly aims for that.

Individuals that are into creating NFTs can mint their content through IPFS to ensure its buyers that they are buying exactly what they’re looking for.

Filecoins can be used to create financial solutions involving that revolutionary file system — and even give some headache to most of the centralized cloud storage businesses around.

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