Paper: 5500FP: A 24-Trit Balanced Ternary RISC Processor - https://zenodo.org/records/18881738

See also: Setun (1958) https://en.wikipedia.org/wiki/Setun

“Emulate a ternary CPU”, I would say. You can’t (AFAIK) buy ternary FPGAs, so the underlying hardware still is binary. From the paper: “On the current FPGA implementation, each trit is encoded as 2 binary bits”