FogoChain Gains Traction as High-Speed Blockchain Solution FogoChain, a new Layer 1 blockchain built on the Solana Virtual Machine (SVM), is generating buzz in the crypto community for its promise of ultra-low latency and high transaction throughput. Leveraging the Firedancer client, originally developed by Jump Crypto, FogoChain aims to deliver institutional-grade performance for decentralized finance (DeFi) and trading applications, boasting over 54,000 transactions per second in its devnet phase. The project’s multi-local consensus mechanism optimizes block propagation by allowing geographically close validators to process transactions swiftly, with a fallback to global consensus for added security. Currently in its devnet phase, FogoChain has a clear roadmap, with a testnet launch planned for Q1 2025 and a mainnet rollout in Q2 2025. The project has raised $13.5 million, including $8 million at a $100 million valuation through the community fundraising platform Echo. FogoChain’s “Fogo Flames” campaign incentivizes early adopters with points for activities like staking $PYTH tokens, trading on Ambient DEX, and engaging on social platforms, potentially leading to future token airdrops. Co-founded by Douglas Colkitt, a former Citadel Securities quant, and supported by contributors like Michael Cahill of Douro Labs, FogoChain is positioning itself as a bridge between traditional finance and blockchain, targeting real-time trading capabilities to rival systems like NASDAQ. While some in the Solana community have questioned the use of Firedancer’s open-source code, FogoChain’s focus on performance and community ownership is driving significant interest among developers and investors.