Blockchain Based Crowdfunding Platform: A Secure and Transparent Approach to Decentralized Fundraising

Abstract

The problem is that many current crowdfunding frameworks overly rely on centralized management and lack transparency regarding how funds flow. Filling that vacuum, researchers introduce CrowdChain as an innovative funding framework implemented solely on the Ethereum blockchain. Rather than a centralized server, the system will leverage Smart Contracts written in the Solidity programming language for transactions, voting, and status tracking, which cannot be tampered with later. Instead of loading large files, only their URLs will be stored to avoid additional transaction costs. The primary mechanism will focus on developing a new procedure for approving milestones. In this procedure, the funds will be securely held in online vaults until more than half of the participants approve their release. Researchers will ensure that CrowdChain integrates seamlessly with MetaMask by using Next.js and Ethers.js for the frontend. This will make it easier for users to participate on the platform. On-chain governance, when combined with off-chain data, has been shown to dramatically reduce operational expenses without sacrificing security or traceability, according to the tests conducted.