WebRTC (Web Real-Time Communication) is an open-source technology that enables real-time audio, video calls and peer-to-peer data transfer on web browsers and mobile apps through a simple API. The WebRTC connection establishment process involves multiple steps, including connecting to signaling servers, offer/answer exchange, ICE candidate exchange, and establishing data channels. Core components of WebRTC include signaling servers, RTCPeerConnection for managing connections, Offer and Answer for session description, and ICE (Interactive Connectivity Establishment) for handling network connectivity issues. ICE resolves NAT traversal, optimal path selection, and connection recovery. A signaling server helps peers discover each other and exchange necessary information for connection. The example of a point-to-point chat system based on WebRTC involves using a signaling server and WebSocket communication.