Definition ∞ Decentralized tools are software applications or protocols built on blockchain technology that operate without a central controlling entity. They allow users to interact directly with each other or with smart contracts, ensuring censorship resistance and transparency. Examples include decentralized exchanges, lending platforms, and identity management systems. Their design prioritizes user autonomy and data ownership by removing intermediaries.
Context ∞ Decentralized tools represent a core aspect of the Web3 movement, offering alternatives to centralized services across various industries. Discussions frequently center on their scalability, user experience, and regulatory status. The continuous development of new decentralized applications and infrastructure is a major trend in the digital asset space.
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