Comparitive Analysis of Blockchain Platforms for Charitable Donation

Abstract

In the COVID-19 era, charity applications have become the need of the hour through which such opportunities have provided hassle-free and remote donation to the needed people. However, this growing adoption raises concerns about transparency, security, and the mismanagement of donated funds. While blockchain technology holds great promise, it also faces challenges such as high costs, energy consumption, and scalability limitations. These challenges highlight the need to identify the most suitable blockchain platform for charity applications and optimize their performance. Even though numerous platforms constructed their blockchain applications based on Ethereum as it was the first blockchain with smart contract capability, newer alternatives such as Solana, Tezos, Polygon, and Binance Smart Chain come with their own advantages and disadvantages. Some of the key points used in the evaluation are transaction cost, transaction speed, security & decentralization. Solana stands out particularly in terms of speed, costs, and scalability- with 65,000 transactions per second through the Proof of History mechanism. Polygon offers low costs with great scalability by using all the benefits of the Ethereum ecosystem as well as layer-2 solutions, other advantages from Tezos and Binance Smart Chain are decentralization and the system integrity, even though the whole system lags behind in speed and cost- effectiveness. Based on performance and development environment, Solana (with Rust) and Polygon (with Solidity) emerge as leading choices for building modern charity applications. This article provides insights for developers and organizations interested in building strong, transparent, and efficient systems that tackle global issues in philanthropy.