What is Peer to Peer network role in Blockchain ?

Peer to Peer network consists of a group of devices(computers) connected to the different nodes on the top of  internet, previously this network was used in file-sharing systems, and now this network used to develop blockchain applications and cryptocurrency. In this network each node can act as an individual node and the P2P network devices can collectively store data and share files between the nodes, Each node in the network can store, transfer, and receive files at the same time. This distributed nature of nodes increases the security of the network and reduces the cyberattack possibilities. The followings are the three types of P2P network models unstructured, structured, hybrid network. 

1. An Unstructured P2P network doesn’t have any protocol or algorithm to add nodes and randomly forms a connection between each node.

2. In structured P2P networks, nodes are connected in an organized manner with a protocol. DTH is the common structured P2P network.

3. Hybrid models are a combination of both the client-server model and peer to peer model. In hybrid model is to have a central server that helps all the peers to connect with each other. In other words, the structured model provides a centralized function to the network and the unstructured P2P network provides node equality in the network.

group pf devices connect to the network

P2P Network Role in Blockchain 

Most of the Blockchain application build on the P2P architecture, First ever blockchain application Bitcoin cryptocurrency was developed on the P2P architecture. Even Satoshi Nakamoto defined bitcoin as a “Peer to Peer Electronic Cash System”.

In Bitcoin P2P network transactions are transferred from one peer to another peer without any central authority.
All the activities in the network are stored in a public distributed ledger called a blockchain. Each peer would have an updated copy of this public ledger and compare it with other peer nodes.If any nodes try to tamper the network, It will automatically rejects the node from the network. This is the reason why the blockchain networks is using P2P network, This tramper proof model can create secure and trustworthy blockchain networks.

 

Leave a Comment