The InterPlanetary File System (IPFS) is a protocol and peer-to-peer network for storing and sharing data in a distributed file system. IPFS uses content-addressing to uniquely identify each file in a global namespace connecting all computing devices. It aims to make the network faster, safer and more open.

• Alternative to HTTP distributed storage
• Network storage protocol for distributed storage and shared files
• Content addressable peer-to-peer hypermedia distribution protocol

Filecoin is a decentralized storage network that turns cloud storage into an algorithmic market. The market runs on a blockchain with a native protocol token (also called “Filecoin”), which miners earn by providing storage to clients. Essentially, filecoin is the airbnb of data storage — a peer to peer based exchange that accepts asks and bids to settle decentralized data storage transactions on blockchain.