Trustless describes a feature that enables secure and transparent transactions without the need for trust in a central authority.
The trustless nature of cryptocurrencies fosters a level playing field, enhances privacy, and mitigates the risk of fraud, making them an ideal medium for secure peer-to-peer transactions and decentralized applications. This eliminates the need for participants to rely on trust or a central authority. It ensures that transactions and interactions can be conducted securely and transparently, even among parties who are not familiar with or do not trust one another. This is achieved through the use of cryptographic algorithms and consensus mechanisms, which guarantee the validity and integrity of transactions without requiring individuals to trust a centralized entity.