What is Trustless

Blockchains are described as “trustless” because users can interact with each other without being acquainted with one another and without trusting each other. They need only to trust the system and the algorithms.

Blockchains are decentralized. This means there is no intermediary third party that manages the transactions. The transactions are peer-to-peer (P2P).

Trustless interactions between users on a blockchain are possible due to various reasons. Simply put, one of the features that make trustless transactions safe is the immutability of the ledger. Transactions recorded on the distributed ledger cannot be changed. Each transaction is validated before they are added into a block and before a new block is added to the chain, and network consensus among the nodes must be achieved. Verification of transactions involves solving complex mathematical problems. Therefore, the network is considered secure against falsification and other malicious behavior.