A decentralized protocol is a set of rules governing the communication and transaction flow within a decentralized network. Unlike centralized protocols controlled by a single entity, decentralized protocols are governed by a distributed network of participants, ensuring greater transparency, security, and censorship resistance. These protocols enable decentralized applications (dApps), peer-to-peer transactions, and decentralized finance (DeFi) solutions. They eliminate intermediaries, reducing the risk of single points of failure, while empowering users with more control over their data and transactions.