What is a P2P cryptocurrency exchange script?

Could you elaborate on what a P2P cryptocurrency exchange script entails? I'm curious to understand its functionality and purpose in the cryptocurrency ecosystem. Is it a platform that enables direct peer-to-peer transactions between individuals? If so, how does it facilitate these transactions securely and efficiently? What are the key features that differentiate a P2P exchange script from traditional cryptocurrency exchanges? Additionally, how does the script handle escrow services, dispute resolution, and compliance with regulatory requirements? Understanding these aspects would help me grasp the full scope of a P2P cryptocurrency exchange script.