📌 Decentralized Trust Models Summary
Decentralised trust models are systems where trust is established by multiple independent parties rather than relying on a single central authority. These models use technology to distribute decision-making and verification across many participants, making it harder for any single party to control or manipulate the system. They are commonly used in digital environments where people or organisations may not know or trust each other directly.
🙋🏻♂️ Explain Decentralized Trust Models Simply
Imagine a group of friends keeping track of who owes whom money by each writing it in their own notebooks. No single person is in charge, and everyone checks each other’s records to make sure they match. This way, no one can cheat or change the numbers without everyone noticing.
📅 How Can it be used?
A project could use a decentralised trust model to verify digital transactions without needing a central administrator.
🗺️ Real World Examples
Blockchain-based cryptocurrencies like Bitcoin use a decentralised trust model. Transactions are verified by a network of computers, and no single company or person controls the system, reducing the risk of fraud or manipulation.
Peer-to-peer file sharing networks such as BitTorrent rely on decentralised trust, where files are shared and verified by many users rather than a central server, ensuring data integrity and availability.
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