Decentralized Crowdfunding Platform: Empowering Global Fundraising with Blockchain Technology

Crowdfunding is a proven way to support startups and social projects; nevertheless, conventional crowdfunding platforms are based on centralized architecture, which brings problems like poor transparency, excessive transaction costs, and low level of control over the usage of money. In this paper, a decentralized crowdfunding solution that will solve the described problems will be presented. Blockchain technology is applied to implement the platform through the usage of Ethereum smart contracts, thus providing safe and transparent transactions. The users will be able to launch a campaign, make payments, and control their transactions via MetaMask extension. Milestone-based funding will be used as well to monitor the spending of money properly. Frontend of the project will be designed using React.js and Web3.js. Experimental results show significant advantages of the proposed solution such as improved transparency, reduced dependence on third parties, and increased trust between people.