FADEC stands for Full Authority Digital Engine Control. It is a system that uses a digital computer to control all aspects of aircraft engine performance. FADEC receives input on flight conditions up to 70 times per second and uses this data to optimize engine efficiency. It provides redundancy through multiple identical digital control channels. While FADEC allows for more automated and efficient engine control, it also presents disadvantages like having no manual override and the risk of total engine failure if the FADEC fails.