The problem DECENTRALIZED MARKETPLACE solves

The decentralized marketplace for crowdfunding addresses several key challenges faced by traditional crowdfunding platforms:

1. Intermediary Dependency: Traditional crowdfunding platforms often rely on intermediaries such as banks or payment processors to facilitate transactions. By leveraging decentralized blockchain technology, this marketplace eliminates the need for intermediaries, reducing transaction costs and increasing transparency.

2. Geographical Limitations: Many crowdfunding platforms have restrictions based on geography, limiting participation to certain regions or countries. A decentralized marketplace transcends geographical barriers, allowing anyone with internet access to participate in crowdfunding campaigns, thus expanding opportunities for creators and contributors worldwide.

3. Lack of Transparency: Transparency issues such as unclear fee structures, opaque decision-making processes, and limited access to project information can hinder trust between creators and backers. By operating on a decentralized blockchain, this marketplace provides transparent and immutable records of transactions, project updates, and funding distribution, fostering trust and accountability within the ecosystem.

4. Payment Processing Challenges: Traditional crowdfunding platforms may face challenges related to payment processing, including high fees, delays, and restrictions on certain payment methods. With decentralized cryptocurrency payments, the marketplace offers faster, more cost-effective, and borderless transactions, enabling seamless funding flows between backers and creators.

5.Security and Fraud: Centralized platforms are susceptible to security breaches, hacking attacks, and fraudulent activities, putting user data and funds at risk. Through decentralized architecture and cryptographic protocols, this marketplace enhances security and reduces the likelihood of fraud, providing a safer environment for crowdfunding activities.

Challenges we ran into

Making the contract work had to be the hardest part of all.
Then there was the CrowdFunding Algorithm from where the fundraisers would put in the money via ETH Blockchain (Ethers) and the organisation would be able able to get the money right away.
There came multiple dependencies where encrypted and private user addresses were used to make the transactions.