is an example of an off-ledger currency since it is issued by the central banks outside blockchain networks. The United States dollar is a prime example of an off-ledger currency, which is used worldwide because of its worth and is typically held as a reserve currency by most financial institutions. Unlike anAs a consequence, off-ledger currencies do not have any intrinsic value. Rather, their value is derived from a government’s backing and subsequent declaration as legal tender.
Unlike an on-ledger currency, they don’t need continuous incentivized computational power to exist. Some off-ledger currencies are actually digital fiat equivalents, being used on blockchains like USD or EUR due to their stability and popularity.
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