The digital transfer of value--a medium of exchange--in a direct, peer-to-peer and trustless
way is transformative in nature.
Blockchain is designed to be decentralised in order to create a platform of trust to record multiple transactions in a trustless
environment between multiple distrusting parties.
When it comes to matters of trust, which are core to human interaction, blockchain assumes trust and is, therefore, in a way, trustless
. The work of blockchain leadership is, paradoxically, to help people engage in a process to restore repair and uphold trust.
While this sounds extraordinarily inefficient, it is the essence of what makes this technology trustless
. The participants in the network are not required to know each other in order to trust that the transactions are valid, because the trust is provided by that energy-guzzling mathematical consensus algorithm, called proof-of-work.
The central theme of Werbach's book is how blockchain technology, which relies on building trust in a trustless
system, can become broadly accepted as trustworthy--and be used by consumers, businesses, and governments to build real-world applications.
IDEX is a hybrid, semi-decentralized exchange that provides a trustless
, real-time, high-throughput trading experience in conjunction with blockchain based settlement.
It can be used to create a secure and "trustless
" transaction system that streamlines the financial market by eliminating unnecessary intermediaries.
The achievement is critical as XYO builds out its fully decentralized, trustless
mesh network that will validate relative location, as well as other important heuristics, over the coming months.
"decentralized control, an immutable ledger, trustless
Continuous Auditing for Regulation, Finance, Compliance -- Add completely trustless
audit trails to any enterprise data ecosystem.
The firm offers services to businesses and allows them to build applications and services by sharing data on a trustless
and distributed IT ecosystem.
This technology can be seen as a useful, powerful mechanism for processing transactions in a trustless
decentralised environ- ment.