LeoGlossary: Peer-to-Peer (P2P)
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The ability for two people to transaction without an intermediary or third party. Instead, transactions can be send directly from one wallet to another, without going through another entity.
Cryptocurrency transactions are validated and confirmed on the blockchain. This ensures there is no double-spending of the currency.
Since there is no third party involvement, it is vital that individuals secure their private key if they wish to transact. This falls under the idea of Not Your Keys, Not Your Crypto.
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