A Review: A Blockchain based Crowdfunding Decentralized Application

Abstract

Raising funds before starting new initiatives or entrepreneurial ventures is without a doubt the most challenging task. Also, rampant frauds in crowdfunding gives rise to doubt in the concept of crowdfunding. Traditionally, crowdfunding was the key to the success of many start-ups and ventures. But with increasing competition and swindling of data it was a necessity to develop a system which assured the investors, venture capitalists and individuals a stress-free experience in investing and continuing the legacy of supporting new ideas and their creators. Thus, blockchain technology is a one stop solution for our problem. Blockchain provides us a decentralized, permissionless and secured environment. In this paper we introduce an enhanced version of Ethereum based crowdfunding for raising funds for path breaking projects and ideas. The main goal is to develop a smart contract that will enable investors to contribute to innovative ideas in a secure manner with a guarantee of the money.