Peer-to-peer (P2P) computing or networking is a distributed application architecture that partitions tasks or workloads between peers. Peers are equally privileged, equipotent participants in the application. They are said to form a peer-to-peer network of nodes.
Peers make a portion of their resources, such as processing power, disk storage or network bandwidth, directly available to other network participants, without the need for central coordination by servers or stable hosts. Peers are both suppliers and consumers of resources, in contrast to the traditional client-server model in which the consumption and supply of resources is divided.
peer to peer networks do not have a single point of control making them more resilient against regulation and manipulation allowing them to survive government scrutiny as well as hacking.
Banks suffer from the same problems with criminal activity, phishing, ponzi schemes and money laundering on a much larger scale, and some of the biggest banks have even knowingly participated in money laundering. e-gold's status as a controversial alternative currency system made it an attractive target.
The 2007 e-gold indictment was accompanied by seizures (and forced redemption) of the e-gold balances of multiple exchange providers, resulting in an almost overnight decline in the amount of e-gold in circulation (and gold reserves) from 3.5 to 2.6 metric tonnes.