InterPlanetary File System (IPFS)
By CoinGecko | Updated on Oct 15, 2021
The InterPlanetary File System (IPFS) is a peer-to-peer network and distributed file system protocol for storing and transferring data. In a global namespace linking all computing devices, IPFS employs content-addressing to uniquely identify each file. Rather than relying on a single server like BitTorrent, IPFS is based on a decentralized system of user-operators who each hold a fraction of the overall data, resulting in a robust file storage and sharing system. Using a distributed hash table (DHT), 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 that has it.
Related Terms
Hybrid PoW/PoS
It is the allowance for both Proof-of-Stake and Proof-of-Work distribution consensus to work on the same network.
Utility Token
cryptocurrency tokens with specific utilities on a network besides being used as medium of exchange and investment vehicle.
Non-custodial
It is a decentralized type-of-wallet, where the users owns its private keys.
Sharding
A form of database partitioning which breaks up data into smaller segments.
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