Peer-to-Peer (P2P) in the context of blockchain and cryptocurrencies refers to a network structure where participants (peers) share resources and data directly with each other without the need for a centralized administrative system. Each peer in a P2P network is both a supplier and a consumer of resources, such as bandwidth, storage space, or processing power.
This decentralized nature of P2P networks enhances robustness, as there is no single point of failure. In the context of cryptocurrencies, P2P is often used in reference to transactions or the sharing of digital assets directly between users, as well as in the distribution of blockchain ledger copies across nodes.