Peer-to-peer (often abbreviated as P2P), is a network where a group of people or machines participate in a completely decentralized way. That is, there is no central point of connection or control, and where the parties act autonomously responding to a common communication and consensus protocol. In this way, the members of the network can exchange information directly and without intermediaries.
The decentralized framework of peer to peer systems makes them highly resistant to cyber attacks and also more scalable. The more users join, the more resilient and scalable it becomes. Larger P2P networks achieve high levels of security because there is no single point of failure (inherent in more traditional models).
This technology plays an important role in the blockchain and cryptocurrency industries. When Bitcoin was created, Satoshi Nakamoto defined it as a “peer-to-peer electronic cash system”. This means that users can send and receive Bitcoins or any other cryptocurrency around the world without relying on a central server or intermediaries.
In Binance when a transaction is started, the cryptocurrencies from the seller’s wallet are automatically transferred to the temporary guarantee fund, that is, the cryptocurrencies will be held in a deposit guarantee until the transaction is completed successfully by both parties.
For more information you can visit: https://www.binance.com
Source. Central American and Caribbean Digital Newspaper