In blockchain, “trustless” means that participants in the system do not need to trust each other or a central authority in order to interact or validate transactions. Instead, trust is placed in the system’s code, consensus mechanisms, and cryptographic principles.

In more detail:

1. Transactions are verified by the network through consensus rules (like Proof-of-Work or Proof-of-Stake).

2. Every participant can independently verify the history and validity of the blockchain.

3. The system is transparent, and rules are enforced automatically, reducing reliance on third parties like banks or governments.

No Central Authority:

Unlike traditional systems where a single entity, like a bank, manages transactions and verifies their validity, trustless blockchain systems rely on a distributed network of participants. 

Consensus Mechanisms:

These mechanisms, like Proof-of-Work (PoW) or Proof-of-Stake (PoS), allow participants to reach a consensus on the validity of transactions without needing to trust each other.

Distributed Ledger:

The blockchain itself acts as a publicly accessible, immutable ledger where all transactions are recorded. This ensures transparency and eliminates the possibility of fraudulent transactions.

Elimination of Intermediaries:

Trustless systems remove the need for intermediaries like banks, which can be beneficial for reducing transaction fees, speeding up processes, and increasing accessibility.

Shift in Trust:

While the system itself is trusted, it doesn't mean there's a lack of trust in the participants. Instead, the trust is distributed across the network, and participants trust the system's rules and consensus mechanisms to ensure the integrity of transactions

So, "trustless" doesn’t mean there's no trust at all—it means trust is shifted from people to technology.

I Hope you learn something 

Good luck 🤞 🫶