Smart Contract-Based Crowdfunding: Ensuring Security and Transparency with Ethereum

Abstract

This paper introduces a crowdfunding platform that enhances the security and transparency of fundraising activities by leveraging Ethereum's blockchain technology. The system uses contracts based on Solidity to create a decentralized space, for setting up campaigns and receiving donations securely online. By recording donations in the blockchain and allowing refunds if fundraising goals are not reached the smart contract ensures accountability and safely manages transferring funds to campaign organizers. In contrast to traditional crowdfunding websites this platform provides transaction fees and enhanced transparency, making it easier for people worldwide, from various backgrounds to participate in the system. The design of the platform tackles problems such as, transaction costs and limited user autonomy that are common, in traditional crowdfunding approaches. Showcasing how blockchain technology can offer a fairer and more decentralized option.