P2P Networks

   A P2P[Peer 2 Peer]computer network is one in which each computer in the network can act as a server or client for the other computers connected in the network. It does not want a dedicated server to transfer data to clients. Every nodes connected to the server acts as both clients and servers, so the transfer rate of data will be greater compared to Client/Server network. P2P is designed suitable to small and medium LANs. The advantages of Peer 2 Peer network are, there is no centralized server for files and applications, no need of dedicated servers, also the nodes are independent to each other, so the failure of any nodes will not affect the communication(mostly P2P is used for file transfer). The disadvantage of P2P network is lack of security.

Image from Wikipedia

   The most familiar  P2P network is BitTorrent. BitTorrent is one of the most popular P2P file sharing network.
   Read more details: wikipedia.