![]() ![]() The genius about IPFS is that you don’t have to think about it. Now, if someone decides to turn their IPFS computer off or just delete everything, you still have a copy in many other places. ![]() Just like a blockchain record, copies live on many computers that are connected to form this IPFS network. Instead of saving your image in one place only, it saves it in many places at the same time. You probably saw it coming: IPFS solves this problem. ![]() On the traditional internet, it would be uploaded to someone’s website and live there… until… and that is the problem: They delete it.īut remember, the world of blockchains is all about decentralization, meaning you don’t have to trust a single person or computer to do the right thing and remain online to keep your precious NFT available to look at. Imagine looking at one of them on your computer screen right now: It’s usually just an image.īut that image needs to be stored somewhere. ![]() So, by now you’ve heard of NFTs about a million times, and they are a great example of why IPFS exists. Interplanetary? Sounds exciting right? So let’s dig in and explain that spaceship. Today, let’s talk about something you’ve definitely encountered, but probably never heard of: The Interplanetary File System, or most commonly known as IPFS. What is the Interplanetary File System (IPFS)? MEOW MATCH 134 PROFESSIONALDo your own research and seek a duly licensed professional for investment advice. It is not intended to be investment advice. Find direct links in the shownote of this podcast:ĭisclaimer: This podcast references our opinion and is for information purposes only. But until Ethereum and co solve all trade-offs, rollup blockchains like Optimism are a good alternative.Īnd If you want to learn more about Ethereum or Optimism you can also head over to the respective project pages on where we give you even more insights and you can leave a review about them. Sounds like we are not quite there yet? You are right about that. In essence, it compromises on security for the benefit of speed and cost. If things are disputed later, it will then make corrections. This is why this process is also called “optimistic rollup”. Instead of validating all transactions, it just accepts them, assuming they can be trusted. So, why is it faster than Ethereum in the first place? Because it makes some deliberate tradeoffs. To make things fast, it will process transactions in batches outside of Ethereum. They are secondary blockchains, in nerd-talk also called Layer 2 blockchains, that communicate with Ethereum but get the job done outside of it. They find ways to process transactions more efficiently than today’s big blockchains like Ethereum can. With your own hands, there are only so many you can carry at a time, so things become cumbersome pretty quickly.īut suddenly you have an idea: Why don’t I just get a box and carry them in batches? You find one in the corner, transfer your apples from the pile to the box, carry the box to your car, and take them out. Let’s say you are buying a few dozen apples at a farm, but they all come loose. Rollups are a practical interim solution to those tradeoffs. Transactions are still slow and expensive. Ethereum, for example, has stayed safe and out of the hands of single actors who could have an overly strong influence, but this is at the cost of efficiency. Today’s blockchains achieve some of those tradeoffs, while they struggle with others. But just like balancing your work, your life, and getting a decent amount of sleep, those three can be competing priorities. In an ideal world, they would be fast enough, secured against fraud, and not controlled by just a few people or companies. Don’t roll your eyes - this is a very important concept to understand today’s state of blockchains.Įven as a casual listener of this podcast, you’ll have realized by now: Blockchains are not yet ready for prime time. My name is Christian Byza, Co-Founder of and I am your host of this daily show. Welcome to the Cryptohunt Jam, where we spend one minute a day to explain crypto. ![]()
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