For those wondering about the update, it looks like it is here. Niantic has announced the Buddy Pokemon experience which according to them, “Trainers, the upcoming version of Pokémon GO introduces a new Buddy Pokémon experience. You will be able to pick your favorite Pokémon to become your buddy.”
“Having a Buddy Pokémon opens up unique in-game rewards and experiences. Buddy Pokémon will appear alongside your Trainer avatar on your profile screen. A Trainer can earn Candy for their buddy by walking a certain distance.” They also add that gamers will be able to switch Pokemon buddies whenever they want.
This is actually a pretty handy tool because right now, one of the ways to earn candy is by catching the same Pokemon and turning them into the professor for candy, which can be troublesome and a waste of time, so if you’re out and about exploring already, this feature lets you generate some candy at the same time, which might be handy if you’re looking to level a specific Pokemon. The update should be live so check it out if you haven’t done so already.