Peer-to-peer (P2P)
A network model where participants interact directly without central intermediaries.
Peer-to-peer systems connect participants directly, allowing them to exchange data or value without a central server. Blockchains like Bitcoin Cash use P2P networking to relay transactions and blocks among nodes.
"When you broadcast a BCH transaction, your wallet sends it to a peer, which relays it to others until it reaches miners and gets included in a block."
Benefits include censorship resistance, robustness to single points of failure, and permissionless participation.
"Even if one node goes offline, others continue relaying transactions, keeping the network available."
Related Terms
Node
→A device that participates in a blockchain network, with roles varying from transaction validation to block creation.
Wallet
→A tool that stores private keys and allows users to interact with blockchain networks.
Transaction
→The fundamental unit of data exchange on a blockchain, representing transfers of cryptocurrency or executions of smart contracts.
Decentralization
→The distribution of power and control across many participants, reducing single points of failure or authority.
All terms and definitions may update as the Cryptionary improves.
