Well, this is something to consider as a great possibility for iPhone users! A P2P client for the Apple phone. Now, don't rush to find the source just yet. Read on and see how exactly it works (if it does at all) and what the risks are.

"Today, the insanely brilliant iPhone Hacker core announced a preliminary version of a Transmission Peer-to-Peer client for iPhone. The code is ported from the Transmission site to run on the iPhone's ARM microprocessor. Tests on downloaded files produced the identical MD5 checksum as downloading via wget," posts TUAW.

Core's advice is to not go with EDGE, as P2P and EDGE simply don't get along. Although several tests have revealed that 5kb/s transfer is possible over EDGE without crashing, there's still a long way to go, as far as stability goes.

"NOTE: PLEASE! What ever you do, don't attempt this on EDGE kids! ... It does 'work'.... that was a netstat after disconnecting from EDGE," core posts. "PLEASE be careful out there! PLEASE!"

As for the "Transmission" peer-to-peer client that runs natively on the iPhone's ARM microprocessor, it has been built from the ground up to be a lightweight, yet powerful BitTorrent client, according to transmissionbt.com. Even though it sports a simple, yet intuitive interface designed to integrate tightly with pretty much any computing environment one chooses to use, the P2P torrent for the iPhone isn't yet Installer.app or Cydia material without a proper interface.

Transmission actually runs natively on as many as five operating systems. It is also said that it allows users to queue their torrents for maximum performance, or put the pedal to the metal during peak periods.

Still, the best thing for anyone using an iPhone and loving it is to keep their eyes peeled for updates right now. It's probably best if you just wait until a more stable version of this P2P torrent software is announced and tested.