Crowdfunding in Blockchain
Crowdfunding is one of the most popular ways to raise funds for any project, cause or for helping any individual in need. With the onset of Covid we have seen a rise in Crowdfunding activities across
Created on 19th February 2023
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Crowdfunding in Blockchain
Crowdfunding is one of the most popular ways to raise funds for any project, cause or for helping any individual in need. With the onset of Covid we have seen a rise in Crowdfunding activities across
The problem Crowdfunding in Blockchain solves
Security : As the funds become larger, they need to be heavily secure, although stringent measures such as symmetric encryption are in place to make e-payment safe and secure,it is still vulnerable to hacking. Blockchain — which has never been compromised yet — can provide that level of security.
Transparency and Anti-Fraud : We have seen, and continue to see a lot of crowdfunding scams happening around. There is no way to see where the funds are being used. We wanted to make the entire flow of funds transparent at every stage, so that there is no possibility of the money being misused.
Global contribution : With some of the platforms being country specific, it becomes hard for people from other countries to contribute to various campaigns. Using blockchain anyone in the world can contribute to the campaign. Transactions are quick and convenient.
Challenges we ran into
Being completely new to blockchain technology and hackathon environment, we went into this hackathon expecting to learn a lot, and we did. With no experience on hand, we faced pretty many challenges figuring out how smart contracts work. Sending and receiving transactions was another huge challenge.Connecting our fronted app with ganache.Adding metamask wallet connect app
Tracks Applied (2)
Mantle
Mantle
Mantle: Public Goods Track
Mantle
Cheer Project
Cheering for a project means supporting a project you like with as little as 0.0025 ETH. Right now, you can Cheer using ETH on Arbitrum, Optimism and Base.