Asterisk RealTime uses external databases (MySQL, ODBC backend, etc.) to
store its configuration and user data. RealTime peers are peers that are
defined in an external database that is read by Asterisk (instead of
using the *.conf files).
See more about Asterisk RealTime here:
http://www.voip-info.org/wiki-Asterisk+RealTime
Suffice to say that this was a really bad choice of names, given that
"realtime" means something completely different in the rest of the
computing industry; see http://en.wikipedia.org/wiki/Realtime. This
mechanism should have been called "extconfig peer" or
"dynconfig peer".