The Google File System (GFS) introduced in 2002-03 is designed for high performance and fault tolerance across a vast number of clients using large data files stored on commodity hardware. GFS utilizes a master and multiple chunkservers to manage metadata and file operations, ensuring efficiency in read/write processes and data integrity through chunk replication. Challenges include storage size limitations and client bottlenecks, but GFS enables large-scale data processing and serves as a reliable storage foundation for research and development.