IPFS: Backbone of Web3

As decentralization slowly gains momentum from the boardroom to actual use cases, so make many of its applications in terms of storage governance.

IPFS, or Interplanetary File System, envisions a decentralized media repository system. Designed by Protocol Labs, IPFS is a form or service platform composed of a distributed network of nodes on a planetary scale that will host a myriad of media, files, software applications, or even webpage active duplicates, fundamentally anything you can access by entering a link.

As you search the web or access information, instead of getting directed to the source location, you are directed to the actual content. The source is ubiquitous as it is hosted across several nodes in any part of the planet.

Understanding IPFS

Files uploaded are subdivided into more fundamental units and are distributed across the multitudes of nodes around the globe.

A hash is assigned to the data by the system so it can be located. Instead of users getting directed to the (location-based) single location of the content or information, the user, through IPFS, connects in a peer-to-peer way to get to the content. You might be reminded of how similar this works with BitTorrent.

While IPFS runs a similar approach to blockchain, it is not powered by or runs on blockchain. Though it is also immutable due to the decentralized structure, it has an iteration system that allows you to create different versions of the same source.

This distributed system aims to create a peer-to-peer method of storing and sharing hypermedia in a distributed file system.

The Three Guiding Concepts for Understanding how IPFS Operates

There are three fundamental principles to understanding the working of IPFS, which are as follows:

1. Content-addressing: The first principle means that files in IPFS are identified and addressed by their content rather than their location. It is achieved by creating a unique cryptographic hash of the file’s content, which serves as its unique identifier. It allows for creating a global namespace for all IPFS files, where files can be located and retrieved by their content hash, regardless of their location.
2.  Peer-to-Peer Networking: The second principle means that IPFS is a decentralized system where nodes connect directly without needing a centralized server. It creates a distributed network where nodes can share files and information without relying on a single point of failure. It also allows faster and more efficient file sharing, as files can be retrieved from multiple sources simultaneously.
3.  Distributed Hash Tables allow IPFS nodes to maintain a shared database of content hashes and their corresponding network addresses. It allows nodes to quickly and efficiently locate the location of a file based on its content hash without the need for a centralized directory service. It also ensures that files can be retrieved from multiple sources, increasing the redundancy and reliability of the system.

Let us understand it with an easy example: you want to share a file with someone using IPFS. Instead of uploading it to a centralized server like Dropbox or Google Drive, you would add it to the IPFS network. Once added, the file is split into many small pieces and distributed across the network. Each computer stores a small part of the file.

IPFS Vs. Traditional File Storage Systems

Since IPFS is a decentralized system, the files can be stored and accessed across a distributed network of nodes, not just in one centralized location. This feature makes IPFS more resilient to any attacks.

In contrast, traditional file storage systems often rely on centralized servers or cloud services to store and distribute files. It can lead to data security and privacy issues, as well as potential problems with downtime if the central server goes offline.

Another advantage of IPFS is its ability to handle large-scale data distribution without incurring high costs. IPFS uses a content-addressed system, which means that data is identified by a unique cryptographic hash rather than by its location or name. It allows for the efficient distribution of large files across the network without costly hosting or bandwidth fees.

Limitations of IPFS

Apart from its advantages, IPFS suffers some limitations too. It may be slower than traditional file storage systems for smaller files, requiring more time to replicate data across the network.

Since the network is still in its early stages, it may not be able to handle large-scale use cases, such as those required by social media platforms or cloud storage providers.

Another potential limitation of IPFS is the issue of content availability. Unlike centralized systems, IPFS relies on the network of peers to maintain content availability. It means that if not enough peers store a particular piece of content, it may become difficult to access.

How to use IPFS 

Some browsers support IPFS natively, like Opera and Brave, you paste the link in, and it will get you there just like normal search engines do. At the same time, most will require an add-on. To a practical user, you can use public gateways to access IPFS content. Gateways such as Cloudflare-ipfs.com or ipfs.io. While IPFS.desktop is the application, you must run it on your computer to install an IPFS node.

Conclusion

IPFS solidifies or bolsters the strong promise of web3. It has strategic value, but like web3, it needs more development to work on an economic system where centralized systems support the most successful use cases.

A point of governance is needed in an ecosystem where individual compliance with the general is not guaranteed. The burden of success is mostly based on the user’s adoption and compliance with the set of rules not governed by a sole authority.  

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Disclaimer: Please note that the information provided in this article is for informational purposes only and should not be construed as investment advice. Investing in financial markets involves risk, and individuals should carefully consider their own financial situation and consult with a professional advisor before making any investment decisions. The author and the publisher of this article do not accept any liability for any loss or damage caused by reliance on the information provided herein.