A decentralized protocol is a set of rules that govern the interaction between decentralized networks and applications. Unlike centralized systems, decentralized protocols operate without a central authority, relying on consensus mechanisms to ensure network reliability and security. These protocols enable peer-to-peer communication, eliminate intermediaries, and empower users with greater control over their assets. Examples of decentralized protocols include blockchain networks like Ethereum and Filecoin, which allow for secure transactions, data storage, and the development of decentralized applications (dApps) across various industries.
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