peering
/PEER-ing/ · noun · Development · Origin: 1990
Definitions
An arrangement between two networks (typically ISPs or content providers) to exchange traffic directly rather than paying a third-party transit provider. Settlement-free peering means neither side pays the other, while paid peering involves compensation. Peering disputes between major ISPs have caused noticeable internet slowdowns for millions of users.
In plain English: When two internet networks agree to directly exchange traffic with each other for free, instead of paying someone else to carry it between them.
Example: Netflix's Open Connect program is essentially a massive peering and caching arrangement that puts their content inside ISP networks.