A decentralized protocol is a set of rules and standards for data exchange that operates without a central governing authority. Instead, it uses blockchain or peer-to-peer technology to ensure that all participants are equal. Decentralized protocols enable secure, transparent, and censorship-resistant communication, making them ideal for applications like decentralized finance (DeFi), file storage, and distributed computing. Popular decentralized protocols include IPFS (for file storage) and Ethereum (for smart contracts), each playing a key role in empowering users with control over their data and transactions.