What is Trustless?

When a system is trustless within a peer-to-peer (P2P) blockchain network, it means that all participants in the network do not need to know or rely upon verification from one another or a third party. This means that the system is run autonomously by the underlying technical architecture and consensus mechanism of the blockchain protocol itself. Transacting on a shared, trustless network is not beholden to a central organization to ensure trust, and is a key value proposition of blockchain technology. A number of innovations underlay the trustless nature of blockchain networks, including immutability, decentralization, transparency, censorship resistance, and neutrality.