A decentralized protocol refers to a set of rules and standards that govern the operation of decentralized networks, such as blockchains or peer-to-peer systems. These protocols are designed to enable trustless transactions, without relying on a central authority. By utilizing cryptographic techniques, decentralized protocols ensure data integrity, security, and transparency across distributed networks. They empower users to interact, exchange value, and execute smart contracts directly with one another, contributing to the creation of decentralized applications (dApps) and services across various industries.
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