What is IPFS (Interplanetary File System)?

IPFS (Interplanetary File System) is a peer-to-peer protocol and network designed to create a content-addressable, distributed method of storing and sharing hypermedia in a distributed file system. IPFS was initially designed by Juan Benet and is now an open-source project. IPFS operates by breaking files into smaller chunks, called blocks, and then creating a cryptographic hash of each block. These hashes address and retrieve the blocks rather than a traditional hierarchical file system. This allowed faster and more efficient data…