MIT Digital Currency plans to launch PArSEC, a large-scale programmable CBDC platform that supports ERC-20 tokens

Odaily Planet Daily News The Massachusetts Institute of Technology (MIT) Digital Currency Initiative (DCI) has launched an experimental PArSEC platform. PArSEC (short for "Parallel Architecture for Scalable Execution of Smart Contracts") is open source and developed with central bank digital currencies (CBDCs) in mind. The platform executes 118,000 ERC-20 transactions per second across 128 hosts, surpassing public permissionless blockchains, the developers said. As such, the platform is capable of processing cross-border contracts and can also be used for innovative supply chain and compliance checks. PArSEC supports ERC-20 tokens, so automated market makers launched on the platform can trade assets such as bonds, tokenized securities, and repurchase agreements in addition to CBDC. Since it supports virtual machines, it simplifies the interaction between the central bank and commercial banks. At the same time, developers said that a lot of research on the platform still needs to be continued, and the platform's security, key management, data migration tools, privacy, etc. need to be improved. (Cointelegraph)