What is Fogo?
Fogo is a Layer 1 blockchain based on the SVM with a primary mission: to serve as a complete infrastructure for on-chain trading. Unlike other general-purpose blockchains that host everything from NFTs to games, Fogo's architecture is vertically integrated to specifically optimize financial transactions.
The main goal of Fogo is to eliminate the trade-offs between speed and decentralization. It incorporates a technology stack that includes a selected set of validators, native price feeds, and a decentralized exchange (DEX) "dedicated". This allows traders to enjoy instant executions like those on platforms such as Binance, while maintaining total self-custody of their assets.
How does Fogo work?
As mentioned, Fogo operates on the Solana Virtual Machine (SVM), known for being able to perform many tasks simultaneously. However, Fogo adds three special features to further enhance trading performance.
1. Integration of Firedancer
The engine inside Fogo is called Firedancer. It is software developed by Jump Crypto to operate the network. It is designed to significantly increase processing capacity (transactions per second) and reliability while reducing the operating costs of validators:
Finality of less than one second: transactions are confirmed almost instantly.
Hyperscalability: the ability to handle hundreds of thousands of transactions per second, avoiding congestion.