Crowdfunding Platform Using Blockchain Technology
Author(s):
Vishnu C, Dr. R. Senthamil Selvi, SuryaPrakash R, Priyadharsan A S, Prasanna Venkateshwar D B
Keywords:
Crowdfunding, Smart contract, Blockchain, Contributor, Ethereum, Cryptocurrency.
Abstract
Crowdfunding is a type of internet fundraising that developed as a method for people to donate a small amount of money to help inventive people support a business or raise funds for medical emergencies. Initially, blockchain was only used as the foundation for cryptocurrencies, but it has since expanded into a new emerging technology that is being used in a wide range of businesses. Most technologies around the world are likely to adopt blockchain as an efficient method of making internet transactions in the future. The issue with today's crowdfunding method is that third-party intermediaries and contributors have no control over the funds they donate. This work presents a blockchain-based crowdfunding network that can provide a private, secure, and decentralised crowdfunding path by using Ethereum smart contract. The major goal of is to allow contributors to effectively contribute to any campaign all over the world by using Ethereum and building smart contracts that give contributors control over their Ethereum spent , also allowing campaign creators and contributors to effectively make and reserve financing for the project or campaign. The aim is to solve these problems by applying Ethereum smart contracts to the crowdfunding site so that the contracts will be fully automatically executed so that frauds can be prevented and a healthy relationship is built between the fundraisers, platform and the contributors.
Article Details
Unique Paper ID: 155716

Publication Volume & Issue: Volume 9, Issue 1

Page(s): 1557 - 1561
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