Every time you use an app like Grab, Uber or GrubHub, you are using what is essentially a P2P network.
The P2P network is a decentralized network where every device has an equal opportunity to exchange data.
Centralized and decentralized networks
A single organization manages centralized networks. The entity controls every activity on the network, from data paths to access rights. These networks are also called client-server networks because clients send requests to the server for data and services. If you want to open multiple urls instantly open with urlopener.
No central authority regulates these decentralized systems. Instead, each user owns some part of it, but at the same time communicates with others through common protocols.
Protection from hackers
They are more secure because hackers don't have a central point of attack. For example, the lack of a centralized database means that hackers cannot get all the information by compromising one node.
Cheaper cost
Decentralized networks are also cheaper since multiple people or organizations contribute to the network infrastructure. No single organization has to pay all the costs of data maintenance or storage.
Increased efficiency
Efficiency is also improved through asynchronous operation. Different nodes do not need to wait until they are sure they have received all the data before processing anything else. They can continue to work in anticipation of the missing information and return later.
Disadvantages of P2P Networks
P2P networks also have several disadvantages.
Not secure by default
One of the most significant drawbacks is that P2P networks are not secure by default.If users don't encrypt their files, anyone who gains access to their device can see (and steal) them.
High throughput
Another disadvantage is the bandwidth usage. This shortcoming is most evident on popular P2P file sharing networks such as BitTorrent. Mass continuous file transfers can clog networks and stop overall traffic.
Poor performance
Finally, there is a problem with the speed of work. Since each computer connected via a P2P network must share resources, less capable machines can become inundated with requests. These machines can become almost unusable.
Examples of P2P networks in different industries
After all, it is thanks to P2P file-sharing networks that so many copyright lawyers get paid jobs. Today, however, the concept of P2P networks is driving many industries.
Here are some examples of P2P concepts in various areas of life that you may be familiar with;
cryptocurrency
Cryptocurrency and Blockchain technology also uses a decentralized P2P network as the basis or platform for transaction processing.
Blockchain allows people to jointly manage digital information without the use of traditional third parties such as banks or governments as intermediaries.
Music industry
The P2P file sharing network, Napster, was started by Sean Fanning and Sean Parker, who were students at Stanford University in 1999. He was later revived as a groxster by Fanning's company , resulting in another outage.
Transportation
Sharing is also a form of P2P network. Uber , for example, allows drivers and passengers to connect directly through an app using a P2P network. It has become so popular that the service has spread to more than 60 countries around the world.
Housing
Airbnb is a popular P2P online accommodation rental service that allows people to rent or rent short-term accommodations, including vacation rentals, apartment rentals, homestays, dorm beds, or hotel rooms. Airbnb operates independently from a central authority and does not have a single owner.
Social media platforms
Social networking platforms such as Facebook and Twitter also use P2P systems to share files between users' devices. When you "Like" on Facebook or retweet on Twitter, your device sends information about those actions directly to other users' devices.
The P2P exchange software is the new talk of the town that stormed the internet recently.
It runs on a peer-to-peer (P2P) network that enables users to experience fast and secure transactions.
P2P exchange development allows users to exchange their cryptos with fiat currencies for the best price value in the market.
Investors can approach the world’s best blockchain company to get ready to launch P2P exchange development solutions cost-effectively.
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