FenomyFriday LIVE Recap from 18 November 2022
The Fenomy system has been deep in developments and updates for the past couple of weeks, with changes happening within the system itself, the launch of the third phase of blockchain testing, as well as designed changes to the web and desktop app. These developments and updates have been designed to improve the user experience and functionality of the Fenomy platform.
System Updates:
— On November 1st, we began testing the third phase of the Blockchain.
— The FNM coin and FENOMY token can be automatically exchanged in both directions through the use of the internal exchange.
— The introduction of new trading pairs on the exchange
We go into further depth on the 3rd phase of our layer 1 blockchain testing as it is one of the most essential topics that was be covered during the LIVE.
The effectiveness of all system tasks will be evaluated as part of the third phase. Creating blocks and confirming existing blocks are the two types of tasks that are available presently.
The confirmation of transactions is what the additional tasks are linked to. Only those members of that completely satisfy the criteria are qualified to carry out these tasks.
Additionally, different kinds of transactions are being established based on the significance of their roles. The most significant transactions involve the production of blocks and the subsequent confirmation of those blocks by users holding top ranks. These blocks have a higher value, which means they will bring in a higher profit.
The level of trust that is accorded to members of the system is dynamically determined and is dependent on the following factors:
— the member’s consistency within the system;
The level of trust that is accorded to members of the system is dynamically determined and is dependent on the following factors:
— the member’s consistency within the system;
— the ratio of the number of confirmed blocks to the total number of blocks created;
— the rate at which the member confirms their own blocks
— reputation
— balance
Conditions for trust:
- Reputation > 700 points
— FNM balance > 100 FNM
— More than 10,000 FENOMY BEP20 coins are currently held in wallets that are connected to the account.
Awards for completing network tasks will see a significant decrease if the system member in question does not meet the standards; nonetheless, these rewards will still be available until January 1, 2023.
In addition, the participant’s consistency and network efficiency will have an effect on reputation, which may either rise or fall depending on the outcome. Over time, the requirements for meeting the criteria to take part in high-value transactions will become more refined.
If a member of our system wishes to advance in our system, they must maintain consistent effort toward improving their reputation and any other indicator indexes. When compared to having a single profile with a high index score, having multiple profiles provides less benefit. When more than one profile is used, productivity decreases because the system may be unable to assign tasks to the many profiles that have been created. As a result of doing daily network chores, certain partners are already earning anywhere from 5 to 10 or even more than 20 FNM.
It is essential that the number of system members increases, as this will make it possible for us to deploy the component in its whole in a shorter amount of time.
Web app updates:
-The new Helpdesk is getting close to being ready for implementation and is currently in its final stages.
— New language packs are currently undergoing the process of being prepared and translated into their respective languages.
— The Blockchain block tracker is undergoing a redesign that will improve both its appearance and its usage.
— The mobile web app now provides additional capabilities as well as an improved user experience.
Team updates:
— The Fenomy team is pleased to announce the addition of two new developers.
By the end of November, we hope to have added two additional specialists to the Fenomy family.
— The negotiations with our partners are going according to plan.
Q&A
How can I use the FNM I got in the app?
You can exchange the FNM for FENOMY tokens in the web app. The minimum sum you must have to exchange is 50FNM.
What are the features of the groups in the app: friends, family, etc?
Those aren’t groups. It is just an indicator, who the people from your circles are to you — your family, friend or colleague. It’s your choice where to put them. If you recruit more people, you will get bigger rewards. So the bigger your circles get, your reputation grows, the more rewards you receive.
If someone gets the secret code to enter my Fenomy profile, he can link my account to his wallet and steal the FNM I have on this wallet. Do you have 2-factor authorization or something else to protect against the theft?
If someone gets your secret code, the main thing for him is not to get your mobile phone. Because the phone has its own chain of blocks, which is stored only on it. If there is a data leak, then without a chain for the last specified period — it is set by each user — no one will be able to perform any operations. Without the initial data from the device that stores the chains of blocks, operations are impossible.
