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An Internet network that can reach every other network on the Internet without purchasing IP transit or paying settlements. In the Internet hierarchy, Tier 1 networks are at the top as they have a global presence and can interconnect with other Tier 1 networks without cost due to peering agreements.

The service provided by an Internet Service Provider (ISP) that allows another network to access the entire Internet. In the Internet hierarchy, transit is significant as it enables smaller ISPs or networks to connect to the larger Internet through an upstream provider.

A physical infrastructure through which Internet Service Providers (ISPs) exchange internet traffic between their networks. IXPs play a crucial role in the Internet hierarchy by reducing the need for data to travel long distances, thereby reducing latency and bandwidth costs.

A collection of connected IP routing prefixes under the control of one or more network operators that presents a common, clearly defined routing policy to the Internet. They are significant in the Internet hierarchy as they facilitate global routing through protocols such as BGP (Border Gateway Protocol).