Odaily News - The Massachusetts Institute of Technology (MIT) Digital Currency Initiative (DCI) has launched an experimental PArSEC platform. PArSEC (abbreviation for "Parallel Architecture for Scalable Execution of Smart Contracts") is open-source and has been developed with consideration for Central Bank Digital Currencies (CBDCs).



Developers claim that the platform can execute 118,000 ERC-20 transactions per second on 128 hosts, surpassing public permissionless blockchains. As a result, the platform is capable of handling cross-border contracts and can be used for innovative supply chain and compliance checks.



PArSEC supports ERC-20 tokens, allowing the automated market makers launched on the platform to trade assets such as bonds, tokenized securities, and repurchase agreements in addition to CBDCs. It simplifies interaction between central banks and commercial banks due to its support for virtual machines.



However, developers also highlight the need for extensive research and improvements in areas such as security, key management, data migration tools, and privacy for the platform to be fully functional. (Cointelegraph)