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Definition: trustless

Not trusted. The term trustless often refers to Bitcoin, Ethereum and other blockchain-based networks because the thousands of third parties that make up the blockchain are essentially unknown to each other and therefore not trusted. In contrast, a "trusted" entity is a bank or credit card company because they are well known. The trustless term is confusing applied this way, because the whole point of a blockchain is that it "can" be trusted. See blockchain.