Enhancing Security in Crowdfunding Platform using Zero-Knowledge Proof

Abstract

The transformation of fundraising through the use of crowdfunding platforms has come with obstacles such as fraud, verification and misuse of funds, and lack of transparency. The use of smart contracts in conjunction with Zero-Knowledge Proofs (ZKPs) of er advanced privacy and security through the validation of identity concealment during participant contributions. This privacy enhances trustworthiness and motivates user engagement. The model provides adequate allocation of funds which improves overall transparency. The solution provides a better distribution of challenges that are posed in mainstream models of crowdfunding by integrating enhanced security, eficiency, and accountability while performing fundraising through the examined approach.