Trustless

A trustless system is one where parties can interact without needing to trust each other or a third-party intermediary. Blockchain technology enables trustless transactions through cryptographic verification and consensus mechanisms.

Smart contracts are described as "autonomous, trustless, secure, transparent contracts" where counterparties may be anonymous, with use cases including record storage, title to assets, governance, insurance, and supply-chain automation.

NFTs provide decentralized, trustless, programmable asset ownership and exchange with provable scarcity and provable provenance.