P2PChan is an imageboard that runs on your computer. Any posts you send or receive are stored on your hard drive. This means pages load incredibly fast and you can always recall old threads.
When you start P2PChan, a small HTTP server is initialized at port 8080. This little server is what allows you to view the current state of the local imageboard. Accessing these pages is accomplished by visiting http://127.0.0.1:8080
When you make a post on P2PChan, you send that post's data to all of the peers currently on the network. Likewise, when a peer makes a post, it will be sent to you.
When you aren't running P2PChan, you obviously will not receive any new posts. A special function is built in to request some of the latest posts, so you can see what's happened since you left.
This same function is also useful when you first install P2PChan, as you will of course not have any posts to display, and will see an empty imageboard with no posts.