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Trustless Meaning

In the context of blockchain and decentralised finance, the term trustless describes systems where participants do not need to rely on a central authority or the trustworthiness of a counterparty to ensure correct behaviour. Instead, consensus mechanisms (such as proof-of-work or proof-of-stake), cryptographic signatures, and open-source smart contracts enforce the rules transparently.

When a network is trustless, no single entity can arbitrarily alter the ledger, freeze assets, or censor transactions. This property is a key innovation of blockchain technology because it enables peer-to-peer transactions among individuals who may not know or trust each other.

However, the term does not imply there is zero trust; rather, trust shifts from human intermediaries to mathematics, code, and decentralised networks.

Designing truly trustless systems requires careful attention to security, incentive alignment, and code audits to minimise vulnerabilities and ensure that the protocol behaves as intended under diverse conditions.

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Important Disclaimer:

Finery Markets BVI Limited (“Finery Markets”) provides software, technology infrastructure, and related Information and Communication Technology (ICT) services on a Software-as-a-Service (“SaaS”) basis. Finery Markets acts solely as a software vendor and does not operate a trading platform, does not intermediate, match, execute, clear, or settle transactions, and does not engage in any activities that would require regulatory authorisation under applicable laws.

Finery Markets’ software is non-custodial and is provided exclusively to licensed institutional entities that act as independent operators of their own environments. All counterparties are solely responsible for establishing and maintaining their own bilateral trading and settlement relationships. Finery Markets is not a party to any such arrangements and assumes no responsibility for the conduct, verification, or compliance obligations of any users of the software.

Nothing on this website shall be construed as a financial promotion, investment advice, or an offer to engage in regulated activities. Access to and use of the software is strictly limited to clients who have entered into a software licensing agreement with Finery Markets. Persons located in jurisdictions where such access is restricted should not rely on this website or any of its contents.

Additional notice to UK visitors: This website and associated communications are not intended to constitute a financial promotion under The Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) and related guidance. Access to services provided by Finery Markets is limited to regulated entities, professional clients and eligible counterparties as set out by the Financial Conduct Authority. UK users are not permitted to use this website for the services of Finery Markets if they don't fall within these categories.