Previously, I was a founding team member of a project that provided SaaS video streaming services and was backed by Sequoia. My role was Alliances, in which I worked with numerous infrastructure vendors such as AWS, Google Cloud, and Aliyun. The technology we built for transcoding and storing videos was similar to Filecoin but without blockchain.
The Filecoin blockchain splits all files into smaller pieces before sending them to engineers for storage, ensuring that the content remains secure. The network is built on the Interplanetary File System (IPFS), a distributed network protocol that enables file storage and sharing similar to file-sharing networks such as RuTracker and BitTorrent. While IPFS is free to use and generates no revenue for its creators, the Filecoin network generates revenue by charging users for data storage and retrieval.
When a file is added to IPFS, the file is divided into smaller chunks, cryptographically hashed, and assigned a unique fingerprint called a content identifier (CID). This CID serves as a permanent record of the file at the time of creation. If you add a new version of your file to IPFS, its cryptographic hash is different, and so it gets a new CID. This means files stored on IPFS are resistant to tampering and censorship — any changes to a file don't overwrite the original, and common chunks across files can be reused in order to minimize storage costs.
IPFS eliminates the need for applications to have a central origin server, making it a potential replacement for the Hypertext Transfer Protocol (HTTP) that currently rules the web. Please read here for more information: https://techcrunch.com/2015/10/04/why-the-internet-needs-ipfs-before-its-too-late/
Stop the boring theory here, let's be more objective and see how other popular companies evaluate this technology
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In June 2019, Protocol Labs organized the first IPFS event in Barcelona, which resulted in collaboration with Netflix, Opera, Microsoft and Cloudflare.
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Network service provider Cloudflare started using IPFS in 2018 and launched its own gateway in the system in 2022.
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In March 2020, the Opera browser provided access to the centralized resources of the Unstoppable Domains provider by hosting content in IPFS.
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At the beginning of 2021, the IPFS protocol integrated Brave (BAT).
Without hesitation, I shall give this technology 5 stars Show Less
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