Crowdfunding using Ethereum Blockchain

Abstract

Crowdfunding has emerged as a popular method for raising capital in various domains, providing a platform for entrepreneurs and innovators to access funds from a broad audience. This paper explores the application of Ethereum blockchain technology to enhance crowdfunding processes, emphasizing decentralization, transparency, and security. Ethereum's smart contract capabilities enable the creation of decentralized crowdfunding platforms, offering a trustless environment where contributors and project creators interact directly without relying on intermediaries. The use of Ethereum's native cryptocurrency, Ether(ETH), facilitates seamless, borderless transactions, eliminating the need for traditional banking systems and reducing transaction costs. Decentralized crowdfunding on the Ethereum blockchain enhances transparency through the immutability of transactions recorded on the blockchain. Contributors can verify the allocation offunds, ensuring that they are used as intended by the project creators.