Blockchain Glossary


Published on August 28th, 2021

When we say blockchains are “trustless,” what we mean is that there are mechanisms in place by which all parties in the system can reach a consensus on what the canonical truth is.

Power and trust is distributed (or shared) among the network’s stakeholders (e.g. developers, miners, and consumers), rather than concentrated in a single individual or entity (e.g. banks, governments, and financial institutions).