onlinepersona OP ,

If you know TOR, I2P is TOR but with P2P support.

But in general terms, it's anonymization network. Data is sent over multiple hops/nodes and the original source is not included. The nodes are hosted by random people. The downside is that the slowest node in the chain of nodes between the source and the target means that's how slow the entire chain is (at least). So, the more nodes, the better for anonymity, and the faster the nodes are, the better for speed.

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