All DeFi interactions involve a tax. Nobody talks about this tax, since we are all used to it now. But it's not about the gas, it's about the time it takes you. The few seconds it takes between your intention and your action being executed. This pause makes you stop thinking about what you want to do and think about how to do it.
You know what I'm talking about. It's about the wallet prompts, and the spinners. Sometimes things just don't happen. You don't even know what happened. You get used to this behavior, to this constant waiting. You probably don't even notice it any more. This has all changed with Fogo.
When things just happen fast. When it takes 40 ms for your transaction. It entirely changes how you use DeFi. You're not just doing the same thing faster, you're experiencing something different. The technology behind it disappears. You focus on what you're trying to do.
Fogo uses this thing called Firedancer. It's sort of like the engine that drives everything, that was developed by Jump Crypto. It’s unlike anything else out there, and those developing it realized they had to build the system to optimize it for computer hardware. The thing is that when computer hardware is optimized, it can handle massive amounts of data, extremely quickly.
What it means is that Fogo can handle an enormous amount of throughput without any delay. And when lots of people use it at the same time, the transaction costs aren’t skyrocketing. This shows that it works as it’s supposed to and can manage its throughput.
And it changes the way traders operate in the blockchain space. Incredibly fast transaction execution leads to an entirely different trading dynamic. No longer will the fastest traders and algorithmic operations win. It will be about who is physically closest to the action, and can get their trade executed the quickest.
Fogo also implements what it calls Session Keys. This system allows an application to perform operations on behalf of you without giving away ultimate control. This is a win because you no longer have to constantly be prompted for confirmations for your actions. The best part is that this could actually reduce the amount of accidental trading you're able to do.
In traditional blockchains, you always have to confirm every operation you do on a smart contract. It made sense when transactions took a long time and were expensive, but when transactions are nearly free and nearly instantaneous, you don’t need to constantly be prompted to confirm every transaction you do. This slows down your workflow and forces you to take action away from your intended task.
Session Keys never compromise your ownership of your funds. They just improve your ability to use them efficiently. They let you focus on what you’re doing and not on how to do it. To active traders, this is a huge win. It’s a tradeoff from having a tool to having a workflow.
@Fogo Official #fogo #Fogo $FOGO
