Concept of a beginner about Peer to Peer Transaction

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1. It is a network architecture where individuals or devices share resources directly with each other without a central server.

2. This concept extends beyond networking into areas like lending, payments, and even economics.

3. It is a two-way communication from sender to receiver and receiver to sender in transaction of crypto coins or Digital Assets from the wallets.

4. Sender A greets Receiver 📞 B - Hello 👋 and sends 1000 USDT (Trc-20 ) to buy any crypto token, say as XRP, Bitcoin etc.

5. Note : Third Party Bank 🏦 is not involved here. It is held as Face 👀 to Face 👀 communication or Transaction.

6. It is done 👍✅ just like BARTER System. Villager Ramu sells his vegetables, say as Onions and Potatoes, and receives 1 litre edible oil 🪔 from the buyer Shyamu. There is exchange 💱 of commodities without the interference of a broker, exchange, market and bank. Hence transaction or exchange of goods done for goods between two candidates.

7. No Fiat Currency 💲💵 say as US Dollar 💰 or Indian Rupees are exchanged or transferred. Here is no role of the Bank.

8. Service Provider : There is a service provider for Internet Connection, say as Airtel, Jio, BSNL or others for the devices like mobile 📲, laptop 💻, and tablet or any device.

9. Wallet : Crypto Wallet mostly Hot 🥵 Wallet is used, say as Trust, Metamask, Phantom and so on. Generally, Cold 🥶 Wallet or Crypto ATM 🏧 Card is used often times.

10. Cold Wallet : Crypto ATM Card may be used only, when Sender and Receiver meet on a Spot in vicinity of 2 feet 🐾 circle ⭕ or area. It may be a kind of wifi or blue tooth transfer.

11. Gaming Platform : Napster and some gaming sites use Decentralised P2P network 🛜.

12. P2P network 🛜 connects to Sender and Receiver directly, allowing them to share files, printers 🖨️ and other devices without a Central Server.

13. No Gas ⛽ fee and fees for transaction and currency exchange are required. #P2PTrading