Creating a Cryptocurrency for a Pet E-commerce: The PetCoin Case

The Idea: A Digital Currency for Pet Lovers

In 2017, I dove headfirst into the blockchain universe with a challenging and exciting project: creating a proprietary cryptocurrency for a pet product e-commerce. The idea was to have a digital currency, PetCoin, that could be used to buy products, earn discounts, and participate in an exclusive loyalty program.

The Technology Behind PetCoin

To bring the project to life, technology choice was fundamental. I opted for the Ethereum platform, which already stood out for its ability to execute “smart contracts.”

• Ethereum: A decentralized blockchain that allows the creation of applications (DApps) and custom tokens.
• Solidity: The programming language used to write smart contracts on Ethereum. Its syntax resembles JavaScript and C++, which facilitated the learning curve.
• ERC-20 Standard: A set of standard rules for creating tokens on the Ethereum network. Following this standard ensured that PetCoin would be compatible with most existing wallets and exchanges.

Development Stages

The PetCoin creation process involved several stages:

1. Token Definition: I determined the name (PetCoin), symbol (PETC), total coin supply, and number of decimal places.
2. Smart Contract Development: Using Solidity, I wrote the contract that defines all PetCoin rules: how coins are created, transferred, and queried. I implemented basic ERC-20 standard functions like transfer(), balanceOf(), and approve().
3. Testnet Deployment: Before officially launching, I published the contract on an Ethereum test network (like Ropsten). This allowed testing all functionalities without spending real Ether.
4. Wallet Creation: I developed a simple web interface using Web3.js, so users could create their wallets, view PetCoin balance, and perform transactions within the e-commerce site.
5. E-commerce Integration: The final step was integrating the wallet with the store’s payment system, allowing customers to use their PetCoins to buy products.

Conclusion

Creating PetCoin was an immense learning experience about blockchain technology’s potential to transform businesses. The project not only enabled an innovative payment system but also opened doors to a new model of customer engagement and loyalty. It was one of the first steps in my journey as a decentralized solutions developer.