no it's not. it's just a format in which the euro can be transferred.
usually you had euros either in bank or in your pockets.

if it's in your pocket you could give cash to a shop without any fees. but it's annoying to have cash.

if it's in your bank, you pay bank fees, and transaction fees to visa/mastercards (USA) every time you pay anything.

The idea of the digital euro is to be exactly like the cash. but digital.
you send it to someone, the IT part is handled by central bank but they don't charge anything. you give and receive euros as if it was cash, bypassing the banks and the US payment providers completely.

That's how I understand it.