Science and Technology : Congressman Calls To Ban U.S. Dollar In Response To Plea For Bitcoin Ban

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ELI5: What do we mean by “blockchains are trustless”?

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Preethi Kasireddy
Blockchain Engineer. I have a passion for understanding things at a fundamental level and sharing it as clearly as possible.
Feb 3

... Blockchains don’t actually eliminate trust, what they do is minimize the amount of trust required from any single actor in the system. They do this by distributing trust among different actors in the system via an economic game that incentivizes actors to cooperate with the rules defined by the protocol ...


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Source: https://libcom.org/library/consensus-its-discontents



 

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