Enhancing the Security of Crowdfunding Platform Using Ethereum

Abstract

Blockchain technology has emerged as a revolutionary force in the digital era, redefining transactional security and data integrity. This paper presents a blockchain-based solution to enhance the security and transparency of crowdfunding platforms using Ethereum smart contracts. Traditional crowdfunding platforms are marred by security vulnerabilities, lack of transparency, high transaction fees, and reliance on intermediaries. Our proposed system leverages Ethereum's decentralized architecture, smart contracts, and Polygon network scalability, coupled with the Interplanetary File System (IPFS) for decentralized storage. The platform automates fund disbursement based on milestone verification, mitigating fraud risks and enabling global participation. Performance evaluation demonstrates the system's efficiency, with transaction costs reduced by 30% and milestone-based fund disbursement achieving 98% accuracy compared to traditional systems.