Peer-to-peer

How it is used

Shortened to P2P. Used for networks (a peer-to-peer network), payments (peer-to-peer electronic cash, a phrase from the Bitcoin whitepaper) and trading (P2P platforms where users buy crypto directly from each other).

Example sentences

1. The Bitcoin whitepaper describes a peer-to-peer version of electronic cash.

2. Many users in the region buy crypto through peer-to-peer platforms that match buyers and sellers.

Common collocations

• peer-to-peer network
• peer-to-peer payments
• P2P trading
• P2P platform

Related terms

• decentralizedNot controlled by one company, server or person. In a decentralized system, many independent participants share control and keep the network running together.
• nodeA computer that runs the blockchain software, keeps a copy of the ledger and passes transactions and blocks on to other computers in the network.
• blockchainA shared digital record of transactions that is copied across many computers. New data is added in blocks, and each block is linked to the one before it, so past records are very hard to change.
• whitepaperA document published by a crypto project that explains the problem it wants to solve, how its technology works, and how its token will be created and distributed.
• BitcoinThe first cryptocurrency, launched in 2009 by an unknown person or group using the name Satoshi Nakamoto. It runs on its own proof-of-work blockchain and has a maximum supply of 21 million coins.

More terms: Blockchain Basics

• block
• ledger
• hash
• immutable
• on-chain
• off-chain