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Crowdfunding Using Blockchain Web3.0 Technology

Author(s):

Devika Kadre , PES Modern College of Engineering ; Vedant Meshram , PES Modern College of Engineering ; Ayush Zade, PES Modern College of Engineering ; Nikhil Kemkar, PES Modern College of Engineering ; Anup Tharkude , PES Modern College of Engineering

Keywords:

Blockchain-Based Crowdfunding, Smart Contracts, Decentralized Applications (DApps), Ethereum, IPFS, Transparency and Trustlessness

Abstract

Crowdfunding has emerged as a transformative method for financing innovative ideas, startups, and social initiatives by collecting small contributions from a large number of individuals. However, traditional crowdfunding platforms such as Kickstarter, GoFundMe, and Indiegogo rely heavily on centralized intermediaries to manage campaigns, verify transactions, and release funds. This centralized nature introduces several challenges, including high service fees, fund mismanagement, fraudulent campaigns, and lack of transparency in how collected funds are utilized. Contributors are forced to trust third parties without verifiable assurance that the raised funds will be used as promised. To address these persistent issues, this research presents the design and development of the proposed system eliminates the need for intermediaries by replacing traditional trust mechanisms with blockchain-based transparency, immutability, and automation. Smart contracts self-executing programs deployed on the Ethereum blockchain automatically enforce campaign rules, handle fund collection, and release funds only when predefined milestones are successfully achieved. This ensures that contributors' funds remain securely locked until project creators meet the specified conditions, thereby reducing the risk of fraud or misuse. The proposed DApp integrates IPFS for decentralized and tamper-proof storage of campaign-related information such as project descriptions, proofs of progress, and visual media. This approach guarantees data integrity and resilience against centralized storage failures or censorship. The frontend of the DApp is implemented using HTML, CSS, JavaScript, and Web3.js, providing an intuitive interface for both campaign creators and contributors. Metamask is integrated to enable secure blockchain interactions and transaction signing directly through users' wallets.

Other Details

Paper ID: IJSRDV13I90053
Published in: Volume : 13, Issue : 9
Publication Date: 01/12/2025
Page(s): 71-75

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