Preheat oven to 300 degrees. Generously grease a 10” round springform pan with a teaspoon or so of coconut oil *. In a small saucepan over medium heat, whisk together the sugar, salt and water. Simmer, stirring frequently, until completely clear and the sugar is dissolved.
In a glass bowl over a pan of simmering water (or in a microwave at 50% power for 20 second intervals), melt the chocolate. Pour the melted chocolate into a large bowl or the bowl of a stand mixer.
Pour the oil into the bowl with the chocolate and beat to combine. Add the sugar water and beat again. One teaspoon at a time, add the Tabasco sauce to the batter. Taste and adjust as desired. Slowly add the eggs, one at a time, beating thoroughly after each egg is added to the mixture.
Pour the batter into the well-greased springform pan. Prepare a pan larger than the springform pan and set the springform inside it. (I use the broiler pan from my oven. I have also used those huge foil catering pans with a baking sheet underneath.) Pour about 4 cups of boiling water into the bigger pan, or enough water to fill the pan about halfway up the sides of the springform pan.
Carefully set the pans in the oven and bake the cake in the water bath. Bake at 300 degrees for 45-48 minutes. The center of the cake will still look wet when it is finished baking. Chill the cake overnight in the pan. Remove the springform ring prior to serving.
Slice into very thin pieces and serve topped with fresh whipped cream, if desired. Enjoy!
* I've been told that some springform pans will allow water to pass through to the bottom of the cake. If you are concerned about that happening or aren't certain how tight your pan will seal, you can wrap the outside bottom and sides of the pan very tightly with foil to make sure water can not enter the pan. I've done that in the past with different water-bath recipes and it works well.