What is peer-to-peer system?

A peer-to-peer network is decentralized , because resources and administration are handled locally on each participating machine, while a client/server network can be either centralized or decentralized.

In a decentralized blockchain network, no one has to know or trust anyone else . Each member in the network has a copy of the exact same data in the form of a distributed ledger. If a member’s ledger is altered or corrupted in any way, it will be rejected by the majority of the members in the network.

Definition. A peer-to-peer system is a computer network which enables peers to share the network resources, computational power and data storage, without relying on a central authority .

Decentralization means the Internet is controlled by many . It’s millions of devices linked together in an open network. No one actor can own it, control it, or switch it off for everyone. The Internet and the World Wide Web remain the biggest decentralized communication system humanity has ever seen.