IPFS, or InterPlanetary File System, is a protocol designed to create a more decentralized way to store and share files. Instead of relying on centralized servers, it uses a peer-to-peer network where users can host and access files directly from other users’ computers.IPFS works by identifying files based on their content rather than their location. When a file is added, it receives a unique cryptographic hash, which acts like its address. This allows anyone to retrieve the file using this hash, regardless of where it’s hosted.The benefits of IPFS include increased resilience against censorship and reduced reliance on single points of failure. Since files are stored across various nodes, even if one node goes offline, the content remains accessible from others.Overall, IPFS enhances data availability and sharing in a secure and efficient manner, making it a valuable tool in various applications, including those involving cryptocurrency.