  The experimental requirements in near future accelerators (e.g. High
Luminosity-LHC) has stimulated intense interest in development of detectors
with high precision timing capabilities. With this as a goal, a new detection
concept called PICOSEC, which is based to a "two-stage" MicroMegas detector
coupled to a Cherenkov radiator equipped with a photocathode has been
developed. Results obtained with this new detector yield a time resolution of
24\,ps for 150\,GeV muons and 76\,ps for single photoelectrons. In this paper
we will report on the performance of the PICOSEC in test beams, as well as
simulation studies and modelling of its timing characteristics.
