Trustless interactions are transactions or agreements conducted directly between parties without needing a third-party intermediary. These interactions are a core principle of blockchain technology, where cryptographic security and immutable ledger entries replace the need for traditional trusted authorities. Smart contracts enable automated execution of terms, removing counterparty risk and reducing reliance on human oversight. This design minimizes the potential for corruption or censorship.
Context
Crypto news frequently highlights trustless interactions as a fundamental advantage of decentralized finance and other Web3 applications, enabling peer-to-peer value exchange. Discussions often focus on the security of smart contracts and the underlying protocol design that underpins these interactions. The pursuit of truly trustless systems remains a central theme in the advancement of decentralized technologies.
This work introduces zero-knowledge proofs to mechanism design, allowing verifiable, private economic interactions without revealing underlying rules or needing trusted intermediaries.
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