A property where participants don’t need to trust each other or a central party; correctness is enforced by the protocol.
In a trustless system, rules are enforced cryptographically and economically rather than by relying on trusted intermediaries. Users can verify state independently and retain control of assets through keys.
"Swapping on a DEX is trustless because funds are moved by smart contracts according to code, not a company’s promises."
All terms and definitions may update as the Cryptionary improves.