IPFS is known as InterPlanetary File System.
It is a network transport protocol designed to create persistent and distributed storage and shared files, a content-addressable peer-to-peer hypermedia distribution protocol. All the global nodes in the IPFS network will constitute one distributed file system, and everyone in the world will be able to store and access the files inside IPFS through the IPFS gateway.
Originally designed by Juan Benet and developed by Protocol Labs with the help of the open source community since 2014, this cool project is a fully open source project.