An Internet Exchange Point (IXP) is a physical infrastructure that allows different Internet Service Providers (ISPs) and networks to connect and exchange traffic directly. This helps improve the efficiency of data transfer, reduces latency, and lowers costs for the participating networks. By connecting at an IXP, networks can bypass long-distance routes and reduce reliance on third-party networks. IXPs play a crucial role in the overall performance and resilience of the Internet, enabling faster communication and better service for users around the world.