A decentralized protocol is a set of rules and guidelines that govern how transactions are conducted without relying on a central authority or intermediary. Instead of being controlled by a single entity, these protocols operate on a distributed network of computers, ensuring that no single party has full control over the system.This approach enhances security and transparency. Each transaction is recorded on a public ledger, making it difficult to alter past records. Participants in the network can independently verify transactions, which helps build trust among users.Decentralized protocols often facilitate various applications, such as peer-to-peer transactions, smart contracts, and decentralized finance (DeFi). They allow for greater innovation, as developers can create new applications that interact with the protocol without needing permission from a central authority.Overall, decentralized protocols empower users by providing more control over their assets and fostering an environment that encourages collaboration and engagement.