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

Something you can interact with (generally a blockchain based app) without trusting anybody. Even if the company developing that application is a bad actor, or the government wants to stop the app for some reason, a trustless app will run as long as the blockchain is there.

I think it's about the risks you take. If I tell you to send me ETH in exchange for USDT, I might send you the correct amount of USDT but you risk losing all your ETH since I can just take it and disappear. When you use Uniswap there is no such risk, the smart contract code (which is open) will run 100% of the time.

How do you explain why trusting anybody is bad? What about trusting hardware, software etc?