Cryptolancer
Decentralizing Freelance: Cryptolancer – Where Smart Contract backed Projects meet Milestones, Payments Are Crypto-Secure!
Created on 5th November 2023
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Cryptolancer
Decentralizing Freelance: Cryptolancer – Where Smart Contract backed Projects meet Milestones, Payments Are Crypto-Secure!
The problem Cryptolancer solves
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Unleashing Smart Contract Credibility:
Problem: Smart contracts remain underutilized, though they have the potential to enhance transparency and trust in freelancing.
Our Solution: Utilize smart contracts to lock funds and automate milestone-based payments, guaranteeing transparency and credibility in freelance transactions -
Trust Issues in Freelance Work:
Problem: Freelancers lack trust in receiving payments, and project owners doubt the quality of work they get.
Our Solution: Implement a milestone-based system with smart contracts to ensure transparent and automated payment upon completion of milestones, enhancing trust for both parties. -
Unfair Payment Practices:
Problem: Unethical practices, like withholding or delaying payments, lead to disputes and project inefficiency.
Our Solution: Enforce a penalty system where project owners must release funds as milestones are met, or they incur a 10% penalty from the ongoing milestone to deter unfair practices.
Challenges we ran into
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Pioneering a fully decentralized platform
Challenges: Unethical practices by project owners and freelancers
How we got over it? - We added 10 % of the ongoing milestone as penalty if the project owner wants to change the assignee or remove the project eliminating current assignee to get their funds. All of this is facilated through smart contracts -
Web3 Challenges
Challenge: Limited resources for building over web3. Longer debugging time
How we got over it? - Faced it aggresively, crawled the internet and gen ai and finally get it done. -
Web2 Challenges
Challenge: Forget about web3, the project we had has complex web2 logic. Getting it all done is very difficult in just 36 hrs
How we got over it? - Kudos to 2 frontend members in the team!
Tracks Applied (2)
Ethereum + Polygon Track
Polygon
Ethereum Track
Polygon