Mediator elimination refers to the removal of intermediary entities or third parties from a transaction or operational process. In decentralized systems, this means facilitating direct peer-to-peer interactions without reliance on centralized authorities. This approach increases efficiency, reduces costs, and significantly enhances censorship resistance. It is a core tenet of blockchain technology and decentralized finance principles.
Context
The concept of mediator elimination is central to the disruptive potential of blockchain technology across various industries. News often discusses how decentralized protocols aim to remove traditional financial intermediaries from established systems. This principle drives innovation in areas like remittances, lending, and digital identity management.
Cryptographic commitment to a hidden mechanism, verifiable via zero-knowledge proofs, eliminates the need for a trusted mediator while preserving proprietary secrecy.
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