What is Peer-to-Peer?

Bitcoin operates on a peer-to-peer (P2P) network, meaning transactions happen directly between users without the need for banks or intermediaries.

How P2P Works in Bitcoin

• Every user (node) can send and receive transactions directly.
• The network collectively verifies transactions.
• Decentralized means there is no central server. Consensus dictates.

For a deeper dive, see Blockchain and Cryptography.