PANews reported on July 22 that according to The Block , Fogo , a Layer 1 blockchain founded by former Wall Street executives, announced on Tuesday that its public beta network was officially launched. Fogo aims to introduce the execution speed of traditional finance into the field of decentralized finance without sacrificing decentralization and composability. The team said that the Fogo network can achieve a 40 -millisecond block time and provide unique advantages for on-chain trading products through native infrastructure and vertical integration. Other innovations include reducing MEV risks, co-location node architecture for real-time transaction execution, and improved session-based account management experience. Fogo plans to be the first to fully deploy the Firedancer validator client. It has currently adopted the Frankendancer hybrid client and will gradually transition to Firedancer .