Ethereum Powered Web3 Crowdfunding Platform

Ethereum Powered Web3 Crowdfunding Platform

연구 분야: Cryptography

학회: International Conference on Computer, Communication, and Signal Processing

A project or endeavor can raise money by using a technique called crowdfunding, which involves asking a large number of people to make small donations. Centralized applications, expensive taxes, a lack of transparency, and security vulnerabilities are the platform’s current drawbacks. Blockchain is utilized to get around these constraints. This distributed database serves as a public ledger, of all completed transactions and digital events that are shared amongst involved parties. Smart contract technology is another benefit of blockchain. This platform allows users to generate funds for projects or other purposes by providing proper documentation supporting their identity. By confirming that the documents are legitimate for voting and funding, authorized individuals can donate money to the various initiatives they support. Smart contracts will forward monies gathered to the appropriate fundraisers if the majority of donors approve. When their limit is reached, they will be able to access their money using a smart contract. The blockchain keeps track of every transaction. The platform will be safer and more transparent with the use of these smart contracts. Better than the conventional apps, this offers consumers access to a fully functional and safe crowdfunding online application platform.