A Peer to Peer or P2P network is an integral and fundamental part of how the blockchain technology works. The P2P feature also contributes to the blockchain’s overall security. The paragraphs below will enlighten you on what P2P is all about and why it is leaps and bounds greater than the centralized systems we are familiar with today.
Users in a P2P network, both utilizes and provides the foundation for the network although the act providing resources is entirely voluntary. Each peer or a computer system are equals among other peers and is commonly referred in the network as nodes. What a peer does is that they make a part of its computing resources such as but not limited to processing power, disk storage, or even network bandwidth available to other peers in the network without any centralized coordination.
In the blockchain ecosystem, even though all nodes being equal, they can take on different roles among them being the role of a miner or a “full node”. If a peer is a full node, the whole blockchain (including history) is copied onto a single device, and this device is connected to the network. In other words, any information stored on the blockchain cannot never be lost or destroyed because to permanently destroy would mean that one needs to permanently destroy every single full node on the network. hence, even if a single node with a copy of the whole blockchain exists, all the records will remain intact, thus providing the possibility to rebuild that network.