The decentralized file and web hosting protocol InterPlanetary File System (IPFS) announced its biggest update yet.
According to an announcement shared with Cointelegraph, the developers will release version 0.5 of IPFS. April 28th.
According to reports IPFS 0.5 speeds up the loading of new data 25 timesThe content is retrieved two to five times faster, while finding nodes with the content is two to six times faster after the network has updated.
Mike Novogratz: Web 3.0 will change the world, not Bitcoin
IPFS uses a distributed hash table (DHT) to index your files and enable browsing. In IPFS 0.5, the implementation of DHT was revised with improved logic, which led to a more efficient system:
“This made the search faster and more efficient. This means significantly fewer dialers, faster queries and less bandwidth for the entire network. “
Molly Mackinlay, IPFS project manager, told Cointelegraph that finding and finding content faster “will greatly improve the user experience of all applications and websites built in IPFS.”
Mackinlay believes in this update This is particularly important for decentralized applications that require rapid updates, content forwarding and data transfer. He also said that advertising and adding times faster reduces system resources required to run IPFS. This will make service operations cheaper for developers. She continued:
“There are also a lot of smaller features like support for .eth domains, tools for quickly importing and exporting data, and improvements to the developer tool. […] Applications such as social media, distributed video players and package managers will experience major improvements over IPFS 0.5 because they can find and retrieve data faster. “
Finally, Mackinlay also found that there was still room for improvement in protocol development. She explained:
“We are actually only in the middle of our first half of the year and focus on improvements in content routing We believe that in our next versions 0.6 and 0.7 we can definitely reduce another 2x, probably a lot more at the end of this quarter. There are many other areas that may need more help and attention. So everyone with a few free cycles should look at the help issues requested or our open rewards to get an idea of which features, documentation, or tools would be most useful. “.
Web 3.0: The Future of the Internet?
Web 3.0 is a broad term for technologies, some of which are said to drive the future version of the web. Many members of the cryptocurrency community believe that this future version of the web will be decentralized instead of relying on hosting data like websites on centralized servers.
Hosting data on large centralized servers leads to a centralized point of failure that can lead to the loss of large amounts of confidential personal information in the event of a hack. In addition, these servers are managed by companies that often sell data to third parties, which can sometimes be catastrophic, as the Cambridge Analytica scandal has shown.
IPFS is said to offer a decentralized alternative to server-based hosting that, according to the developers, is robust, upgradeable, more open and more secure. In the long run, the developers hope that the initiative will also speed up the web.
Mackinlay found that Opera’s main web browser, Brave Crypto-enabled web browser, Ethereum name service and Cloudflare main web service already support the IPFS protocol.
The development of Web 3.0 is a key focus for cryptocurrency and blockchain companies. The reason for this is the great theoretical potential of such initiatives. Mike Novogratz, CEO of Galaxy Digital, argued in March that Web 3.0 and not just Bitcoin (BTC) will change the world. As Cointelegraph reported in late 2019, Many also believe that Web 3.0 will drive the global adoption of cryptocurrencies.