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This article is the first in a new “Understanding IPFS in Depth” series which will help anybody to understand the underlying concepts of IPFS. The series is divided into 6 parts: Understanding IPFS, Libp2p, MultiFormats, Filecoin & other Web 3.0 projects, concepts and interactive tutorials, then head to SimpleAsWater.com. This article was first published on our open-source platform, SimpleAsW.com. We will explore the naming system of the distributed web. We also discuss some flaws in filecoin protocol.