A pure peer-to-peer network does not require a centralized platform that is used to share the files and it’s a connected network, it interacts with each person. It will share its resources through its common server.
In this P2P network, there are no middlemen needed in this network system, here every person acts as a peer, and all the nodes have equal power and it performs the same task.
This P2P allows buyers and sellers to trade without the need of a third party and also it connects the lenders and the borrowers.
Some of the examples for P2P networks are the market, Torrent, Bitcoin, and a student study group.
One of the pure examples of P2P networks is “BITCOIN”. In 2008 some of the systems were eliminated (ie) called double-spending problems and it represented a digital payment without an intermediary such as a bank.
Did You Know how does P2P Works:
The P2P network is based upon the distributed network of users. Here each node copies their files and also both act as a client and server. They can easily download and upload the files. If a user downloads the file it acts as a source of a file.
This P2P is faster and more efficient for the users to store, Transmit and also receive the files.
“THIS P2P HAS SOME STRUCTURED”
1.Structured P2P network system
2.Unstructured P2P network system
3.Hybrid P2P network system
1.Here multiple users are connected so it is so difficult to break it down.
2.It is scalable, fast, secure, efficient, and also transparent.
3.It is so easy to download and upload the file on the server with high-speed information sharing.
Here his P2P lending makes the business and financial activities quick and simple, Traditional period the borrowers go to the bank and it may take a heavy process to conduct and check the credibility to ensure the payment (ie) way it takes a high way of interest, sometimes delay and rejection.
SOME P2P BEFORE ENTERING NETWORK:
1.This P2P network offers various types of loans such as commercial, education, etc.
2.Here the borrowers have an attractive interest rate.
3.Here the intermediaries can access the credit rating and also apply the rate of interest.
4.By using this method of lending the government does not take the guarantee.
This P2P is developed and used in different ways and also it makes cryptocurrencies possible. This P2P has a transaction ledger with larger network nodes and it offers security, decentralization, and also censorship resistance.