A Decentralized Crowdfunding Solution on top of the Ethereum Blockchain

Abstract

In today’s tech world, there are several crowdfunding platforms that enable both investors and organizations with a smooth flow of transactions, creating a huge hype in the market. However, security concerns and a fear of fraud are the biggest blow suffered by users on such networks. The history of crowdfunding platforms demonstrates the massive frauds that the public has been subjected to in recent years. This paper provides a completely decentralized method for creating a crowdfunding platform over the Ethereum Blockchain in the proposed system. A lot of attention has been attracted by Blockchain technology as a result of the rise of cryptocurrencies and decentralized apps. A common paradigm among them is the newly emerging Blockchain-based crowdfunding, which eliminates centralized cloud servers and uses smart contracts to fulfill each and every transaction. Blockchain, a promising decentralized paradigm, can be used to provide technological advancements like decentralization and accountability in addition to fixing the problems with current crowdfunding methods. The fundamental objective of the solution is to encourage accountability, transparency, and traceability for all stakeholders so that they always have complete control over their investments.