CBDC - Central banks issue and control CBDCs which have legal status as they are issued by the government or central bank. Cryptocurrencies, on the other hand, are created through mining or distributed through initial coin offerings (ICOs). They are not controlled by any central authority or government. CBDCs are centralized digital currencies, which means that a central authority, usually the central bank, has control over their issuance, supply and operation. Cryptocurrencies are decentralized by design, operating on distributed ledger technologies like blockchain. They are not controlled by any central authority and their operation is managed collectively by the network participants. #ContentStar
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Difference between CBDCs and Cryptocurrencies:
CBDC - Central banks issue and control CBDCs which have legal status as they are issued by the government or central bank.
Cryptocurrencies, on the other hand, are created through mining or distributed through initial coin offerings (ICOs). They are not controlled by any central authority or government.
CBDCs are centralized digital currencies, which means that a central authority, usually the central bank, has control over their issuance, supply and operation.
Cryptocurrencies are decentralized by design, operating on distributed ledger technologies like blockchain. They are not controlled by any central authority and their operation is managed collectively by the network participants.
#ContentStar