Introduction — Status Report #1

Published in

The Construct

3 min readMay 9, 2018

The Construct, a decentralised crowdfunding platform for entrepreneurs and investors to fund and grow trusted projects. Built on the NEO network.

This will be the first of many. A reoccurring blog if you will, on how the project is moving forward and aiming to hit those milestones I keep talking about!

Where it all started…

Like most people in this space, we’ve come to realise its exciting to have this opportunity to be apart of such an influential technology at such an early stage, the possibilities are seeming endless. So like many others I wanted to be apart of it.

A major diving force behind the creation of this project was the CoZ dApps competition. I had originally participated in the 1st competition around Sept 2017 with a project I called neo-fund, which turned out to be a fail, but lessons were learnt.

Come the 2nd competition, I started with the idea, a “whitepaper” and built up from there. Lots of hard work went into creating a working prototype and a bit of a brand, but it seemed to pay off as The Construct made it to the winning list! https://cityofzion.io/dapps/2/

So why NEO?

From the very start, the NEO community had always impressed me and if you’ve ever developed on the platform you will understand why.

Everybody wants to help. You can see it on the reddit forums, and throughout the discord channel, anytime a question is asked (no matter how simple) a flurry of replies will follow. This is invaluable as a developer and as an entrepreneur in this space, where there are large amounts of misinformation.

I haven’t even mentioned City of Zion (CoZ) yet, this international open-sourced foundation is truly amazing. The hard work the contributors have put in really benefits the community, it creates this solid foundation and precedent for future projects.

From a technical point of view, NEO is the obvious choice. The dBFT protocol ensures a 100% consensus after 15 sec ( Only 1 confirmation needed ), compare that to Ethereum where it requires around 10 confirmations requiring over 3 min (which can never reach a 100% consensus).

What’s been built so far?

I’ve created proven proof-of-concept, which is publicly available on my Github page (https://github.com/nickazg/TheConstruct), this remains in the state it was submitted in, but its deployed on the testnet.

https://www.dropbox.com/s/57j7g5ya803fsxh/TheConstructDEMO.mov?dl=0

Also the pre-release Whitepaper, which clearly outlines individual aspects of the project and how they will function. This will still need to be refined before the ICO commences.

What’s currently in progress?

Currently, the NEP5 smart contract for the CNS Token is being developed. Due to the complex nature of our staged funding method, it makes writing such a contract a bit more complicated than normal, so we want to make sure everything is done correctly.

When the contract is ready to deploy we will publish the Github source code, to ensure full transparency.

What’s Next?

Once the CNS Token contract has been completed and deployed, we will be able to the announce the date for the 1st funding stage. The plan for this stage is to scrutinize every aspect of the whitepaper, to make sure its air tight and be able to hold up to a platform with rapid growth and adoption.

This will require professional expertise in both business and blockchain/crypto. Professional Legal help will also be required to ensure the CNS token follows all legal requirements.