Definition ∞ A decentralized protocol constitutes a set of rules and procedures governing operations on a distributed network, without reliance on a central authority. These protocols enable peer-to-peer interactions and transaction validation across numerous independent nodes. They establish the fundamental logic for blockchain networks, smart contracts, and decentralized applications. Such designs prioritize censorship resistance and transparency.
Context ∞ News concerning decentralized protocols often focuses on their governance models, security audits, and upgrade mechanisms. The performance and security of these protocols directly impact the stability and value of associated digital assets. Ongoing discussions center on balancing innovation with maintaining protocol integrity and network decentralization.
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