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Most basic DHT based peer-to-peer networks distribute objects among nodes in a way that tends to balance loads among the peers if the distribution of objects in the identifier space is uniform. But this doesnpsilat hold in practice. The case is further complicated by the fact that, in a typical scenario, object loads and node capacities vary enormously. Additionally, a nodepsilas load may vary greatly over time since the system can be expected to experience continuous insertions and deletions of objects, and continuous arrival and departure of nodes. This paper presents a scheme that can balance load in any DHT based P2P network even in a dynamic environment.