That's the common usage of the word "fiat" for currency: backed by nothing.
Crypto can be fiat, or it can be backed. Lots of details to make it one way or the other, or even a hybrid mix. But the securely distributed ledger, known as blockchain, is a prerequisite for any serious crypto.
That's the common usage of the word "fiat" for currency: backed by nothing.
Crypto can be fiat, or it can be backed. Lots of details to make it one way or the other, or even a hybrid mix. But the securely distributed ledger, known as blockchain, is a prerequisite for any serious crypto.
Understood. That is what makes it more dependable than normal fiat currency.