The IPFS makes it possible to host web content in a decentralized manner across multiple computers instead of a centralized server like the HTTP hosted content we use today.

Filecoin and IPFS are just two of the protocols being built by Protocol Labs in their mission to create a new decentralized internet.

Governance and Tokenomics Clarification

The Filecoin Foundation coordinates all the stakeholders on Filecoin including users, miners, and developers. 

Any changes made to Filecoin will be done using the Filecoin Improvement Proposal process via FIPs, which are analogous to Ethereum's own improvement proposals known as EIPs. 

Only about 30% of FIL's total supply of 2 billion has been earmarked for Protocol Labs, the Filecoin Foundation, and the private investors who were allowed to participate in the 2017 SAFT sale.

The remaining 70% of FIL's total supply will be distributed to Filecoin storage miners in 3 manners, and will be gradually minted over a 20-30 period.