ELI5: Explain Like I'm 5

Peer-to-peer

Peer-to-peer is like a street market, or a flea market, where each person is in charge of their own space. They bring their own things to the market, set their own prices, and decide who they want to buy or sell with. In this way, each person, or "peer", is in control of their own market, and no one has to tell them what to do. They are all connected on the same “market”, so they can interact with each other freely.