Peer-to-Peer (P2P)

Peer-to-Peer (P2P) refers to a decentralized network where two or more individuals can interact directly with each other without relying on an intermediary or central authority. In the context of cryptocurrency, P2P networks enable users to trade cryptocurrencies, share files, or conduct transactions directly. Bitcoin was the first cryptocurrency to use a P2P network, allowing users to transfer funds directly without the need for a bank or financial institution. P2P models are also used in decentralized exchanges (DEXs) and file-sharing platforms like BitTorrent.