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Goodomy v3: Instant Messaging Scheduled for August

Jul 19

Although it has been a while since our last update, we are still making progress on the next version of Goodomy.

As previously noted, Goodomy has chosen Fantom as the platform for its token, a strong competitor to Ethereum. The success of Goodomy largely depends on the success of Fantom.

Ethereum has been under heavy network load recently, resulting in higher fees and longer processing times for users ($0.28 per standard transaction with a ~5 minute confirmation as of this writing, up significantly from $0.001 at the end of last year). A roll-out of a more scalable Ethereum 2.0 is estimated to be “at least another 3-5 years" away, according to their blog.

We continue to feel that Fantom is the best choice for our future users who will be sending micro-transactions and need low fees and fast transaction times. Transactions on Fantom are very fast and cheap. (And if our calculations are correct, for the cost of 1 transaction on Ethereum we can get over 1 million transactions on Fantom right now with all of them finalized in less than a minute, something that would take Ethereum 14 hours to accomplish.) Any developer that wanted to switch from Ethereum to Fantom should be able to do so in only a few minutes.

Fantom had been off to a slow start after the launch of its mainnet earlier this year. However, the release of its full suite of DeFi tools is scheduled for July 2020. The all-important smart contract metadata on their block explorer should follow, along with other exciting developments in the Central Bank Digital Currency space (and their long-awaited marketing efforts).

Further, Fantom tools will allow us to develop what we are now calling version 4.0. And we are happy to announce that version 3 is scheduled for an August release.

v3 is a complete re-working of Goodomy into a social networking app that will open the door for v4 cryptocurrency integration.

With later releases, we'll add the global feed feature and, of course, integrate wallet functions for cryptocurrency so that users can use Goodomy dollars in their transactions.