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    A trustless system is one where there is no need for third-party involvement or intermediaries to complete a transaction. Two parties can transact directly without relying on a central authority, such as a bank. Trustless systems achieve consensus without the need for participants to know or trust each other or any third party. The result is a more efficient and secure system with no single point of failure. Most transactions involve trust, which is essential for a functioning economy. Trustless systems could change economic interactions by letting people put their trust in concepts instead of third parties such as institutions. A trustless system does not eliminate the need for trust; it simply minimizes it. A trustless system distributes trust in an economy that incentivizes certain behaviours.