Welcome to the Cryptohunt Jam, where we spend one minute a day to explain crypto. In plain English. My name is Christian Byza, Co-Founder of Cryptohunt.it and I am your host of this daily show.

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.

Interplanetary? Sounds exciting right? So let’s dig in and explain that spaceship.

So, by now you’ve heard of NFTs about a million times, and they are a great example of why IPFS exists. Imagine looking at one of them on your computer screen right now: It’s usually just an image.

But that image needs to be stored somewhere. On the traditional internet, it would be uploaded to someone’s website and live there… until… and that is the problem: They delete it.

But 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.

You probably saw it coming: IPFS solves this problem. Instead of saving your image in one place only, it saves it in many places at the same time. Just like a blockchain record, copies live on many computers that are connected to form this IPFS network. Now, if someone decides to turn their IPFS computer off or just delete everything, you still have a copy in many other places.

The genius about IPFS is that you don’t have to think about it. The address of that image will always be the same and IPFS makes sure to serve you a copy, regardless of where it is.

And that’s IPFS: Practically every NFT you’ve ever looked at is safely stored there. And the name? We don’t really know, but aliens certainly had nothing to do with it.

And if you are interested in getting your own NFT, head over to www.cryptohunt.it, where we are about to launch a new program and give away NFTs starting next week. Make sure to sign up now to not miss out.

Disclaimer: This podcast references our opinion and is for information purposes only. It is not intended to be investment advice. Do your own research and seek a duly licensed professional for investment advice.