There's a tax associated with every single DeFi activity. No one talks about it, mostly because we've become so used to it over the past years. The tax doesn't refer to the gas fees that we're already used to paying. It refers to the time waiting time, the few seconds that it takes from the time you intend to perform an action, to the time it's performed. This waiting forces you to not only think about what you want to do, but think about how you want to do it.
You all know what I'm referring to-those wallet popups and spinning circles that tell you to wait for a while. And at times they never even finish. We don't even know what actually happens-this is so normal now, you don't even register it anymore.. Until now Fogo gets rid of it completely.
When things happens fast; it occurs at 40ms. Interacting with DeFi becomes entirely different. It is not faster-and-still-the-same DeFi experience. The technology simply becomes unnoticeable, and all we care about is what we want to do.
At Fogo we have something called Firedancer, the engine behind all of this. It's made by Jump Crypto, and it's nothing like anything that's come before. The creators of this technology didn't only build for performance and speed, but optimized it for existing computer hardware, so that it was able to process a great number of information as quickly as possible.
It means that when we use Fogo, it's able to process large amounts of transactions simultaneously without being slowed down, and without increased gas fees because of activity on the network. The underlying technology simply isn't being affected by what you're doing, and therefore the fee's cannot rise due to activity.
This inherently changes the experience of trading on the blockchain. When activity occurs quickly, the methods used to "outwit" other traders, change as well. It's not about being clever or relying on complicated algorithms anymore; it's about being present on the blockchain, and able to react quickly.
Fogo also has a system called session keys, an abstraction that allows a third party to perform certain actions for you, without taking any control of your digital assets. This is huge because you no longer have to confirm each and every action that a certain protocol asks you to perform.
Old-fashioned transaction confirmation systems were developed at a time when all transactions were slow and expensive to execute, meaning there was a necessary delay in making every transaction with careful consideration. With these quick and inexpensive transactions, such an approach is not only no longer necessary, but it's also harmful, as it causes your train of thought to break and force you to reconsider.
Session keys doesn't take any control of your funds. It simplifies the user experience, and removes a step which causes users to stop what they are doing to take into account an aspect which they simply have no need to. For frequent traders this is a deal, because it brings them from having a tool, to having a workflow.
@Fogo Official #fogo #Fogo $FOGO
