Why Phu Quoc Dog built its own blockchain?
There are some reasons why we are building a separate blockchain network compared to the past.
At first start in Phu Quoc Dog project, we created a Token on the Binance Smart Chain (BSC) platform with the aim of taking advantage of BSC’s existing computer networks.
Advantages of using Binance Smart Chain
- Low transaction fees.
- Network performance is optimal, can generate each block in just 3 seconds
- Has a cross-chain DeFi mechanism that increases DeFi interoperability
- As an independent blockchain, it is highly secure
- Interoperability between blockchain and Binance Smart Chain is very good, allowing for chain communication and scaling for dApps
Disadvantages of using Binance Smart Chain
- After we built a pet social network application that integrates technologies such as IPFS, Network Glossary, Nominators, Identity chains, etc , the implementation in smart contracts on BSC platform is very complicated and there is no high performance
- No discretion when adding a feature to the BSC network
- No friendly API to interact with Web 3.0
- Users who want to buy PQD must have BNB tokens to buy and pay fees.
For all of above reasons, we decided to build a separate blockchain for the pet social network (Phu Quoc Dog).
We choose Substrate
Substrate is a blockchain framework built by Parity Technologies open source with RUST language, one of the fastest and lightest programming languages to date. The projects behind it are Polkadot, Kusama, Chainlink,etc. All information you can refer to this link https://substrate.dev/
As a blockchain 3.0 generation platform with the goal of providing APIs to replace web 2.0, that’s why we chose Substrate to build a private blockchain network.
- Architected on WebAssembly;
- Industry Standard Networking Libp2p;
- Highly scalable;
- Wasm WebAssembly interpreter, written in Rust.
Substrate is common in most of the Polkadot ecosystems. In addition, our goal is to become a parachain on Polkadot.
So what about the PQD token on BSC?
We will still maintain tokens on the BSC network but we will soon provide you with a bridge to move tokens on the BSC ecosystem to the Phu Quoc Dog Blockchain.
If you are an investor or trader, you can keep the amount of PQD tokens on the BSC platform. However, if you want to use services such as stacking, or running ads, buying NFT on PQD’s mobile application, you must transfer your existing amount of PQD tokens on BSC to Phu Quoc Dog Chain
Phu Quoc Dog project architecture
The picture below is the blockchain platform architecture and the mobile application of Phu Quoc Dog
After we build our own blockchain network, the transaction fee is no longer dependent on BNB, as you know each private blockchain has a transaction fee unit.
For example, on the Ethereum blockchain network. The main unit of charge is Gas. You can find out gas details through this link https://ethereum.org/vi/developers/docs/gas/
The unit of charge in Phu Quoc Dog is Planck
Planck is a physical constant in the universe, if you study physics, the importance of this constant will be important to me. I also graduated with a degree in physics, so I decided to choose this Planck unit as the unit of cost to calculate transaction fee
You can see more at: https://en.wikipedia.org/wiki/Planck_length
In short you can see 1 Planck as same as 1 Satoshis or Wei. In Phu Quoc Dog’s mainnet network
1 PQD = 10000000000 Planck
You can see the unit summary below.
| Unit | Decimal Places | Example |
| :--- | :--- | :--- |
| Planck | 0 | 0.0000000001 |
| Microdot \(uPQD\) | 4 | 0.0000010000 |
| Millidot \(mPQD\) | 7 | 0.0010000000 |
| PQD \(PQD\) | 10 | 1.0000000000 |
Our first goal is still to develope a pet social network on a private blockchain platform. It will then integrate the NFT feature for each owner’s animal to be unique on the blockchain network.
And finally we will consider about integrating Defi arrays, integrating support for smart contracts from Ethereum’s ERC20 or Binace’s BEP20 platforms that can run on our blockchain.
We know it will take a long time to complete the above ideas, hope you and investors will join us on this path.
Above is our article on why we built a private blockchain network. If you want to have more questions about Phu Quoc Dog, please contact via email firstname.lastname@example.org or join the PQD group on Telegram.