Why is IPFS a Blockchain? (Is IPFS a blockchain?)

08/11/2023 10:10 • Blockchain Briefs • 59 views

Why is IPFS a blockchain? According to Sina Finance, why is IPFS a blockchain?

It has been present in the financial services industry in the United States since 2015. With the continuous development of the US federal government and central banks, as well as the increasing attention and understanding of this industry by governments around the world, many companies joined this field in early 2019 and received corresponding funding support. However, due to the current regulatory uncertainty, the business activities of these companies have been hindered. Therefore, more and more large companies are choosing to use distributed ledger technology for settlement. But why does IPFS adopt this new system? We can understand it as a cloud-based platform.

So here comes the question, if it is not because many companies have taken various measures to reduce costs in order to achieve their goals, but because they do not have enough money to manage customer issues, so they cannot transfer funds elsewhere to ensure secure, stable, and reliable transaction completion. This forces many suppliers to look for an alternative solution, which leads to the birth of the new system, iPfs.

Is IPFS a blockchain?

IPFS (International Non-profit Organization for Financial Technology and Blockchain Initiative) is a public infrastructure aimed at promoting digitization of the world. It is a distributed, verifiable, and transparent database system. The architecture of this system consists of two parts: one is the node network and the other is the storage network.

Due to the immutability of blockchain technology itself, each participant can access their data and perform operations through their own owned data without any third party. In addition, since all transactions are public, historical records cannot be modified or revoked, which means that if fraud occurs, users will not lose their funds. (Cryptonewsbtc)

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Why is IPFS a Blockchain? (Is IPFS a blockchain?)

Is IPFS a blockchain?

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