Abstract—Peer to peer (P2P) network is an approach of connecting computers in such a way that all connected computers share equivalent responsibility for processing data. The aim of this study to discuss the current Trends of P2P networks, which includes broad catching, new knowledge development in P2P and wireless devices in P2P. Later in this study P2P characteristics along with its challenges will be explored. Later this study will highlight on future trends of P2P such as, videos, audio casting and P2P mobile applications. Finally this study will conclude with future work in this field.