What are the advantages and disadvantages of a Peer-to-Peer (P2P) network?

Simple and cheap because every device is both client and server — but with no central control it doesn't scale or stay secure, so it's recommended only for very small networks.

In a P2P network, devices can be both clients AND servers simultaneously.

* In P2P every device is both client and server — simple and cheap, but with no central control. *

Advantages:

• Easy to set up
• Less complex
• Lower cost
• Good for simple tasks (file sharing, printing)

Disadvantages:

• No centralized administration
• Not as secure
• Not scalable
• Slower performance

Best suited for: Very small networks only

Go deeper:

• Peer-to-peer (Wikipedia) — explains each node acting as both provider and requester, and the trade-offs (cheap/resilient vs. inefficient/insecure).