Each participant operated its own version of the ledger, rather than having the participants act as nodes in a single distributed ledger, the report said. Nevertheless, the participants were able to settle both sides of transactions simultaneously, finding a massive speed boost compared to the current system. While the report detailed some of the technical aspects of the test – it used an undisclosed permissioned blockchain network and was written in the Rust programming language – it did not provide many details about how the simulation was conducted or how they confirmed transaction settlements.
Source: https://www.coindesk.com/policy/2022/11/04/cbdcs-could-reduce-fx-transaction-speeds-to-10-seconds-ny-fed-says/?utm_medium=referral&utm_source=rss&utm_campaign=headlines