decentralized network</strong></strong></a> <strong>in which peers connect with one another to share data or tasks.</strong> This means that for the entire process to take place, two or more parties must arrange and agree to deal with each other. Besides, there is no need for a central server to facilitate and maintain such communication.</p>\n<p><strong>All peers are treated equally</strong> and have access to the same benefits. To use a P2P system, all you need is an internet connection and a copy of the software (or protocol). In the absence of a central server processing requests and managing resources/tasks, peers often make all or part of their resources available to the network.</p>\n<p>In the context of cryptocurrencies and blockchain, P2P is especially important. 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Crypto?","featured_image_id":11394,"status":"published","chapter_id":7,"language":"en","order":7,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-fud","featured_image":{"id":11394,"uuid":"defd32c5-d3e1-4e66-9f58-e2ee316bad3a","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/what-is-fud-featured-image.jpg","path":"crypto/storage/optimized/what-is-fud-featured-image.jpg","original_path":"crypto/storage/original/what-is-fud-featured-image.jpg","name":"what-is-fud-featured-image.jpg","original_name":"what-is-fud-featured-image.jpg","title":null,"alt":null,"width":1024,"height":576,"disk":"spaces","status":"uploaded","readable_file_size":"65.30KB"},"youtube_video":null},{"slug":"investing-in-cryptocurrency","title":"Investing in Cryptocurrency: How to Manage Your 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Pulls?","featured_image_id":6555,"status":"published","chapter_id":7,"language":"en","order":10,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-avoid-rug-pulls-in-crypto","featured_image":{"id":6555,"uuid":"80cbed9d-3b4b-45d9-9a85-d2d8108c0f32","public_url":"https://assets.bitdegree.org/crypto/storage/media/how-to-avoid-rug-pulls.o.jpg","path":"crypto/storage/media/how-to-avoid-rug-pulls.o.jpg","original_path":"crypto/storage/media/how-to-avoid-rug-pulls.jpg","name":"how-to-avoid-rug-pulls.o.jpg","original_name":"how-to-avoid-rug-pulls.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"111.99KB"},"youtube_video":null},{"slug":"how-to-avoid-crypto-taxes","title":"The Key Legal Techniques of Avoiding Crypto 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Tokens?","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":4,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-track-new-crypto-coins","featured_image":null,"youtube_video":null},{"slug":"how-to-research-crypto","title":"Crypto Research Fundamentals & Social Signals: Your Daily Trading Strategy","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":5,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-research-crypto","featured_image":null,"youtube_video":null}]},{"id":9,"title":"Mining","slug":"mining","updated":false,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/learn-crypto-mining.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-mining-101.jpg","rating":80,"sections":[]},{"id":10,"title":"Crypto Terms","updated":false,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/crypto-101-glossary.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-glossary-101.jpg","rating":100,"sections":["A","B","C","D","E","F","G","H","I","J","K","L","M","N","O","P","Q","R","S","T","U","V","W","X","Y","Z"]}],"nextSection":{"id":577,"original_id":null,"author_id":42,"translator_id":null,"title":"What is Permissioned Ledger?","slug":"what-is-permissioned-ledger","section":"P","keyword":"Permissioned Ledger","status":"published","definition":"a ledger that is restricted in a way that only people or organizations with permission can access it.","content":"<p>A permissioned ledger is a closed-source <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-distributed-ledger-technology-dlt/">distributed ledger technology (DLT)</strong></a> variant that is restricted in a way that only people or organizations with permission can access it. This distinguishes them from public networks like <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/buy-bitcoin-btc/">Bitcoin and <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/buy-ethereum-eth/">Ethereum, which are open to everyone and do not require prior authorization.</p>\n<p>A permissioned ledger <strong>differs from a centralized database</strong> in that it has several participants and no single point of failure. Besides, all data of a permissioned ledger is verifiable, unlike in centralized databases, employing <strong>secure cryptography</strong> and digitally verified signatures.</p>\n<p>The main features of permissioned ledgers include:</p>\n<ul>\n<li>They can be based on existing public networks. However, their design and implementation significantly differ.</li>\n<li>They are <strong>tokenless</strong>.</li>\n<li>They perform effectively.</li>\n<li>They enable businesses and enterprises to share critical data in a secure, cost-effective, and discreet manner.</li>\n<li>In terms of <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-immutable/">immutability, permissioned ledgers are similar to public ledgers, however, the latter is generally a lot stronger in this regard.</li>\n<li>They have a semi-centralized <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-governance/">governance structure that requires the approval of all permitted participants. Decentralization, <strong>transparency</strong>, anonymity, security, and censorship resistance vary widely among such systems.</li>\n<li>They have an advantage over their <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-permissionless/">permissionless equivalents in legal and regulatory matters. </li>\n</ul>\n<p>R3, B3i, and <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-hyperledger-hyperledger-foundation/">Hyperledger are typical examples of permissioned ledgers.</p>","level":"easy","meta_title":"What is Permissioned Ledger? Definition & Meaning | Crypto Wiki","meta_description":"Permissioned Ledger meaning: Permissioned Ledger - a ledger that is restricted in a way that only people or organizations with permission can access it.","meta_keywords":null,"language":"en","created_at":"2022-03-24T14:26:19.000000Z","updated_at":"2022-05-13T14:32:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-permissioned-ledger"},"prevSection":{"id":571,"original_id":null,"author_id":42,"translator_id":null,"title":"What is Passive Income?","slug":"what-is-passive-income","section":"P","keyword":"Passive Income","status":"published","definition":"income earned through investments during which the earner is not actively involved.","content":"<p>Passive income is <strong>money earned through investments that do not require the earner to be actively involved</strong>. The goal of passive income is to create a consistent income stream without the demands of a full-time job. Traditionally, passive income is used in spheres like rental properties, royalties, <strong>peer-to-peer lending</strong>, dividend stocks, and so on. However, it can also be used in many other types of investments.</p>\n<p>The expansion of <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-cryptocurrency/">crypto and <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-defi/">decentralized finance (DeFi)</strong></a> businesses is creating possibilities for investors looking for <strong>innovative ways</strong> to earn a passive income. DeFi is offering crypto investors the chance to earn <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-annual-percentage-yield-apy/">annual percentage yields (APYs)</strong></a> that put most bank deposits to shame. </p>\n<p>There have been a number of options for investors to gain passive income since DeFi began in the summer of 2020, assisted <strong>by the sale of</strong> Compound's COMP token. Lending, staking, and yield farming are the <strong>main techniques</strong> for earning passive income in DeFi, and they all require crypto to do it.</p>\n<p>The notion of <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-peer-to-peer-p2p-lending/">lending is simple. Users lend their unused crypto assets to a platform, which is secured by a <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-smart-contract/">smart contract</strong></a>. In exchange, <strong>lending services give</strong> crypto holders an APY. Borrowers can access locked assets as loans, with interest paid back to the platform. There is no danger to the crypto lender if the <strong>borrower dodges to pay their loan</strong> because the process is governed by smart contracts. This means that anyone can withdraw their cryptocurrency assets at any time.</p>\n<p><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-staking/">Staking is the process of a crypto holder locking or staking their assets in a smart contract. It originates from networks that use <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-proof-of-stake-pos/">Proof-of-Stake (PoS)</strong></strong></a> algorithms. A user can earn more of the same token by keeping their assets locked up for the long term. Staking is a means for users to make extra money by contributing to the network's security and decentralization in exchange for <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-mining-reward/">rewards.
/nYield farming</strong></a> (or liquidity mining) also allows cryptocurrency holders to earn additional rewards while simultaneously supplying liquidity to <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-liquidity-pool/">pools. By doing that, <strong>liquidity providers (LPs)</strong> earn an <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-are-liquidity-provider-tokens-lp-tokens/">LP token</strong></a> that represents their pool share. Trading expenses are frequently included in the benefits of being an LP when trades take place in the pool.</p>\n<p>To receive additional rewards, LP tokens can be staked on a protocol or project. These rewards usually come in the form of the native token of the project or protocol. These tokens can then be staked for even more rewards, which makes yield farming a <strong>lucrative and passive income source</strong>. Though note that yield farming is often considered to be riskier than staking and lending.</p>","level":"medium","meta_title":"What is Passive Income? Definition & Meaning | Crypto Wiki","meta_description":"Passive Income meaning: Passive Income - income earned through investments during which the earner is not actively involved.","meta_keywords":null,"language":"en","created_at":"2022-03-24T12:40:25.000000Z","updated_at":"2022-05-13T14:32:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-passive-income"},"currentChapter":"P","currentSection":"what-is-peer-to-peer-p2p","chapterTitle":"P","readingLevel":"easy"},"url":"/crypto/learn/crypto-terms/what-is-peer-to-peer-p2p","version":"cdd198d50cbe5c9c21c9329d7c096ffc"}" class="container-fluid d-flex crypto-book p-0"> Crypto Terms: Letter P
What is Peer-to-Peer (P2P)?
Peer-to-Peer (P2P) MEANING:
Peer-to-Peer (P2P) -
the splitting of duties or workloads between peers through decentralized interactions in a distributed network.
Let's find out Peer-to-Peer (P2P) meaning, definition in crypto,
what is Peer-to-Peer (P2P),
and all other detailed facts.
P2P refers to a decentralized network in which peers connect with one another to share data or tasks. This means that for the entire process to take place, two or more parties must arrange and agree to deal with each other. Besides, there is no need for a central server to facilitate and maintain such communication.
All peers are treated equally and have access to the same benefits. To use a P2P system, all you need is an internet connection and a copy of the software (or protocol). In the absence of a central server processing requests and managing resources/tasks, peers often make all or part of their resources available to the network.
In the context of cryptocurrencies and blockchain, P2P is especially important. For example, Bitcoin's whitepaper describes its protocol as a "Peer-to-Peer Electronic Cash System," which refers to all members participating in a mutually beneficial and equal manner without the use of any intermediaries.
Miners that provide processing power to the network instead of block subsidies and transaction fees have a more complete copy of the data. However, all peers or nodes of a blockchain typically have the same copy of account and transaction history records.
While Bitcoin is truly a peer-to-peer protocol that does not rely on a centralized third party, P2P doesn't always have to be blockchain-based. For example, despite the fact that BitTorrent was not originally built on the blockchain, it is now one of the most popular decentralized peer-to-peer systems.
