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P2P

Peer to Peer (P2P) refers to the decentralized interactions between two or parties more in a highly-interconnected network. Participants of a P2P network deal directly with each other through a single mediation point.

Where is it used? There is no need for a dominant authority for Peer to Peer interactions in the blockchain technology.

What’s the use of it? The user becomes the true owner of their personal data, no single party can control and use the network to push its own agenda.

Interesting facts

  • Both Public and Private blockchains have P2P decentralized networks.
  • Ethereum Network allows lenders and borrowers from all over the world to create peer-to-peer lending agreements in the form of smart contracts.