Ethereum

Anyone have a comprehensive definition of the word "Trustless"? (Especially for non-crypto folks.)

A doodler and computerer. I like permissive/permissionless open source, smart contracts, p2p systems, room-scale VR, and NixOS.

shazow.net

Currently: WhatsABI

Satoshi created BTC because your hard-earned currency was being inflated away by bank bailouts and QE; the central banks couldn’t be trusted to preserve your purchasing power. In the extreme, sovereign powers could impose restrictions on how you use your own money. That’s a 1st layer of trustlesnessness from crypto

Aviator, diver, Etherean, nexialist, PhD in aviation ∩ climate science | Host of /diving /ethfinance /eth-staker /geopolitics /science /singapore /thomas

Then there are all the private parties — failing banks like Lehman, defaulting debtors like Evergrande, criminal operators like SBF. Onchain ledgers add transparency to the economic system; you don’t need to trust, you can verify balance sheets. That’s a 2nd layer of trustlessness

And then there are smart contracts. You can programmatically guarantee contract execution through open, auditable code, without the intervention of arbitration courts, escrows, lawyers, etc. That’s a 3rd layer of trustlessness