The digital dollar processed a record speed of 1.7 million transactions per second in one of two pilot tests, significantly faster than the best cryptocurrency networks. the digital currency initiative at mit and the federal reserve bank of boston worked together to put the system through its paces.

the cbdc initiative is still in its infancy and named ‘project hamilton.’ it is being developed so that it can withstand transaction interruptions caused by server failures and other issues. a cbdc is the electronic representation of a country’s fiat currency. it is similar to the country’s currency to avoid the volatility and regulatory burden associated with digital assets such as cryptocurrencies.

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