One of the main features that attracted me to blockchain technology was the trust-less system. You don’t need to trust a third party, like a bank, to do your transactions between peers. I really dislike banks, their extra fees, long wait queues, mountains of paperwork etc. I am sure you feel that way. That is why to me blockchain was amazing, you get a transferring system where the validation of your transactions are already embedded within it. No need of third parties.
However, recently I came across to this article https://hackernoon.com/a-christmas-ethereum-mystery-4bbbe910d22b. And let me to ask this question. Is blockchain trustless or is more of a decentralized trust?
I am starting to think that instead of a trust-less system. You get a decentralized trust system. You still need to trust the miners they will move your transactions, and you still need to trust the chain is the correct one and not a malicious one (51% attack). And this is just for PoW system. What if you get other less robust ones like PoS or dPoS where the decentralized trust falls to fewer validators?
Finally, this is more an open question, and I would like to see what do you guys think. It is your choice, do you think we still need to trust others?