Abstract
BLOCKCHAIN CROWDFUNDING: REDEFINING TRUST AND TRANSPARENCY
Prof. Dr. Chandrika J.*, Sumukha K. Y., Charan C. S., Preetham B. R. and Yashwant R.
ABSTRACT
Blockchain technology, initially synonymous with facilitatingcryptocurrencies, has evolved into a disruptive force across variousindustries, offering unparalleled transparency, security, and efficiencyin online transactions. This paper provides an in- depth analysis of theintegration of blockchain technology, specifically Ethereum smartcontracts, in revolutionizing crowdfunding platforms. Traditionalcrowdfunding mechanisms are plagued by inherent challenges such astrust deficits stemming from project delays, failures, and reliance onintermediaries. By leveraging Ethereum smart contracts, this study proposes a novelapproach to address these issues, ensuring the prevention of scams and the timely fulfillmentof projects. The paper elucidates the architectural framework of a decentralizedcrowdfunding platform, offering a detailed examination of its core components andfunctionalities. Key aspects include the integration of Ethereum blockchain, utilization ofSolidity programming language for smart contract development, seamless integration withMetamask for user interaction, and the facilitation of Ethereum transactions across thenetwork. Additionally, the paper explores the profound implications of decentralizedcrowdfunding, highlighting its potential to democratize fundraising efforts whilesignificantly reducing associated fees and barriers to entry.
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