The term 'peer-to-peer networks' refers to decentralized networks where devices communicate directly with one another without the need for a central server. In computing, this model allows users to share resources, files, or information efficiently. Applications of peer-to-peer networks include file sharing, blockchain technology, and distributed computing, which enhance resource utilization and reduce bottlenecks. This architecture promotes resilience and flexibility, enabling more democratic and collaborative environments in digital ecosystems.