What is peer to peer transaction? - page 2.

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Quote from: cryptomichael87 on June 14, 2018, 09:33:30 AM

Can you help me to understand the peer to peer transaction process. Is it creates any limitations for the process?

The article in the link below explains pretty much in detail what peer-to-peer (P2P) transaction is.

https://en.m.wikipedia.org/wiki/Peer-to-peer_transaction

stayeduptolate

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Quote from: cryptomichael87 on June 14, 2018, 09:33:30 AM

Can you help me to understand the peer to peer transaction process. Is it creates any limitations for the process?

I think peer to peer transactions of bitcoin is considered to be the one of the most successful and characteristic advantage of bitcoin. As we all know that bitcoin transactions are considered to be very private and confidential and this is only possible because of this peer to peer transactions feature, as bitcoin transactions does not involve any user anonymity so the transactions record is always between two individuals in which transactions take place and thus it does not involve any third party seizure.

etin06

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Quote from: BrewMaster on June 14, 2018, 10:03:39 AM

in the old system (centralization and banks) when i want to send you money i go to the bank and give them my money and ask them to send it to you and you go to them to receive the money that i sent you and we pay them a fee.

in the new system (decentralized and bitcoin) you and i are peers on a network of peers like us. when i want to send you money i directly send it to you without any mad in the middle through this network that is shared among all the peers called the bitcoin network and store the record of it on this public ledger called blockchain.

Peer to peer which is usually shortened as P2P means sending a transaction from one person to another, in such case the both party as agreed on amount and the method of payment.

Goodday

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I guess what is a peer to peer ata P2P transaction is a network of sytem communications connected to each other using the internet network and files from each computer can be shared without using a central server or server.

franky1

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peer to peer is one person to another person. NO middlemen

not sure what those people above are on about trying to make it sound like peer 2 peer involves intermediaries(middlemen). not sure if they just dont know or they are trying to redefine it to suite some narrative

banks (account wire transfers) are not peer to peer..
cash hand to hand are peer to peer

EG
bitcoin onchain does not need a middle man or the reciever to sign your transaction along side you.(permissionless)
LN does require a multisig authorisation and hopping payments through .(permissioned)

ngusmin

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Quote from: cryptomichael87 on June 14, 2018, 09:33:30 AM

Can you help me to understand the peer to peer transaction process. Is it creates any limitations for the process?

P2P transactions are transactions that can be done from one person to another without any third party monitoring, and it's safer to do.

Captain Sneeze

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Quote from: cryptomichael87 on June 14, 2018, 09:33:30 AM

Can you help me to understand the peer to peer transaction process. Is it creates any limitations for the process?

Base on what i search on the internet peer to peer transaction is a good way to save on the excessively high exchange rates margins charged by banks for international money transfers.

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electronic money transfers made from one person to another through an intermediary, typically referred to as a P2P payment

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There is trouble abrewing

in the old system (centralization and banks) when i want to send you money i go to the bank and give them my money and ask them to send it to you and you go to them to receive the money that i sent you and we pay them a fee.

in the new system (decentralized and bitcoin) you and i are peers on a network of peers like us. when i want to send you money i directly send it to you without any mad in the middle through this network that is shared among all the peers called the bitcoin network and store the record of it on this public ledger called blockchain.

cryptomichael87

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Can you help me to understand the peer to peer transaction process. Is it creates any limitations for the process?

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