The Magnet URI scheme is a de facto standard (instead of an open standard) defining a URI scheme for Magnet links, which mainly refer to resources available for download via peer-to-peer networks. Such a link typically identifies a file not by location, but by content -- more precisely, by the content's cryptographic hash value.
Since it specifies a file based on content or metadata, rather than by location, a Magnet link can be considered a kind of Uniform Resource Name, rather than the more common Uniform Resource Locators. Although it could be used for other applications, it is particularly useful in a peer-to-peer context, because it allows resources to be referred to without the need for a continuously available host.
Read more about Magnet URI Scheme: History, Use of Content Hashes, Design, Features and Clients
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