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What are Trustless Environments & How Cryptocurrencies Create Them What are Trustless Environments & How Cryptocurrencies Create Them
May 24, 2018 6:56 AM Discuss Cryptocurrency News & Your Guide to the Blockchain Economy Trust is a fundamentally integral aspect of how people interact with each other. It is very difficult to gain and very easy to lose, inherently fragile. Traditional solutions to assuring trust between parties revolves around the implementation of a central authority or intermediary that acts as the implicitly trusted mediator. If two parties cannot trust each other, they put their trust in a third party whose vested interests are not directly involved in the components of the transaction, only that the transaction between the parties is completed as valid and its outcome unadulterated. This model for trust mediation between transacting parties has existed in countless forms from ancient civilizations to modern financial institutions.
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