📝 Hello everyone, I am 𝟏𝟎, welcome back to the #区块链开发史 project investment research series. Today, we will focus on (Fogo).
Fogo is a new Layer 1 blockchain based on the Solana Virtual Machine (SVM), but it is not a simple copy of Solana. It is a high-speed track built specifically for institutional-level finance.
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1. Overview of Fogo
Fogo is an SVM chain based on the Firedancer client, aiming to break the performance ceiling of blockchain and provide a super smooth and unobstructed large-scale real-time experience.
Choosing SVM also means that Fogo inherits Solana’s technology ecosystem, and developers can easily migrate existing applications to Fogo, reducing the difficulty of development. For developers with technical accumulation, this is a great benefit, and they no longer have to start from scratch.
Currently, Fogo is in the network development stage and has achieved a fast confirmation time of 20 milliseconds per block and 45,000 signatures per second (TPS). Compared with Solana's 4,300 TPS and Monad's 10,000 TPS test scores, Fogo is significantly faster.
This speed advantage makes Fogo very competitive in scenarios such as high-frequency trading and instant payment.
2. Three highlights of Fogo
1. Firedancer Blessing: Fast Speed
It uses the Firedancer client launched by Jump Crypto, which is equivalent to Solana's accelerator, using parallel processing and memory optimization to make transactions faster. It was initially a hybrid version of Frankendancer, and will be upgraded to a pure C language version with stronger performance. The actual test is 54,000 TPS, and the theoretical one is one million TPS, which is more than ten times faster than Solana.
2. Multi-local consensus + dynamic co-location
Fogo's multi-local consensus model is inspired by the financial world's "follow the sun". US nodes work during the day, and Asian nodes take over at night, reducing cross-region delays and ensuring global efficiency. Block time is shortened to 20 milliseconds, with almost no delay.
3. Select validation nodes: quality over quantity
Fogo's verification nodes are strictly selected. In the early stage, they are screened by Proof of Authority (PoA). In the later stage, the nodes are managed independently, which not only maintains decentralization, but also ensures security and efficiency. Efficiency and stability are perfectly balanced.
3. Fogo’s cool operation, you can trade without SOL
Fogo plans to launch a new transaction type fee_payer_unsigned, so that users without SOL can also participate in transactions. By using other tokens (such as meme coins such as TRUMP and MELANIA) to pay the handling fee, users only need to package the transaction and tokens, and someone else will advance the SOL and sign, and the transaction can be completed.
This method is not only convenient, but also can create a small market for transaction relays, which is both safe and flexible. It is extremely friendly to novices, and even the step of buying SOL is saved, and it does not affect network security and miners' income.
4. Team and Funders
On January 25, it was listed on Cobie's Echo platform with a valuation of $100 million. It attracted $8 million in less than two hours of sales. The lead investor was The Echonomist (invested $6 million), followed by CMS Holdings, Big Brain Collective and other big names. It had previously received $5.5 million in seed round financing, led by Distributed Global, with $5 million coming from it. The total financing amount reached $13.5 million, and the financial strength is strong.
The team is also strong. Co-founder Robert Sagurton is a veteran of Jump Crypto, who has been engaged in global digital asset sales for five years. He also worked in traditional financial giants such as JPMorgan Chase and Morgan Stanley and is very experienced. Another founder, Douglas Colkitt, has worked in Ambient Finance and is a veteran in the DeFi circle. He now plans to move this protocol directly to Fogo.
5. Tail
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