The problem PeerFund solves

Our decentralized crowdfunding platform solves several key problems with traditional crowdfunding methods:

• Eliminates middlemen
  Traditional crowdfunding platforms often act as intermediaries between project owners and donors, taking a cut of the funds raised. Our platform eliminates the need for middlemen by using blockchain technology and smart contracts to directly connect project owners with donors.

• Improves security
  Our platform uses the security and immutability of blockchain technology to ensure that funds are stored securely and cannot be tampered with or misused.

Other than this, we also do not take any sort of a cut from the money donated except the gas prices. Once the gas has been paid for the transactions, a 100% of the money goes directly to the campaign creator.

Overall, our platform provides a safer, more transparent, and more direct way for project owners to fundraise and for donors to support the projects they care about.

Challenges we ran into

This was our team's first-ever project on blockchain, and as we had no prior experience with it, we faced challenges in getting started. To ensure smoother development, we assigned ourselves roles before the hackathon - two for the front-end, one for the back-end, and the last to create and integrate the smart contract into the project.

During development, we encountered technical difficulties related to the implementation of smart contracts and blockchain technology. One of the main challenges was ensuring proper coding of the smart contracts to handle fund transfers and enforce crowdfunding campaign rules. Extensive testing and debugging were necessary to ensure that the contracts functioned as intended.

We also faced the challenge of competing with other teams who were working on similar projects. To make our platform stand out, we brainstormed unique ideas, such as creating a token for funding, integrating more cryptocurrencies, and adding a review section to the campaign. However, time constraints prevented us from implementing these features.

To overcome these challenges, we collaborated closely as a team, leveraging each member's strengths to work through technical difficulties. We also reached out to online resources and the blockchain community for insights and guidance.

Through perseverance and problem-solving, we successfully delivered a fully functional decentralized crowdfunding platform that eliminates intermediaries and provides transparency and accountability to donors and project owners. We are proud of what we have accomplished and excited to see the potential impact of our project.