The ledger service,. for the standard S&L, is the accumulation of bit error, total amount of loose coin running through the sandbox. That is the released coin count, the only block chain it keeps.
The queues are bid/ask, not yet reconciled. The S&L finds the match that minimizes bit error. Now, at this point, the pit boss is legally contracted to request or deliver bearer cash to a guaranteed wallet, guaranteed by an outside service. The S&L never takes possession.
The counterfeit risk, at any time, is in the accumulated bit error, it is the S&L blockchain. If that count get fouled,the coin loses market share.
But, even in trend release by contract, potential error losses are bound by the contracted pit boss error, if the counterfeit is soon caught. Not a problem, we see plenty of opportunity to counter check the processor security. The cyber cops still can collect sufficient data, over some interval, to tack down a counterfeit processor.
Any accumulated bit error losses or gains should be owned by the current bid ask wallet. Under the contract, any contracted trend releases are considered 'good will', and upon the discovery of a counterfeit pit boss, the good will number should remain stable, it wasn't really stolen. The best that a counterfeit pit boss can do is drain small changes over the indefinite,but finite future. It will be eventually caught by an outside accounting.
Individual trader wallets, or their legal contracts, are outside the currency issuer. Traders are responsible for their own counterfeit problems.
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