Modelling Blockchain based Crowdfunding System with Ethereum Network

Abstract: A decentralized platform such as a blockchain-based crowdfunding application enables start-ups and business owners to solicit funding directly from investors. Smart contracts and blockchain technology based model is proposed in this paper to achieve reliability, security, and transparency in crowdfunding scenarios. By doing away with intermediaries like banks and other financial institutions, the use of blockchain technology lowers transaction costs and boosts efficiency. Additionally, the platform offers a peer-to peer fundraising model, enabling start-ups to produce their own digital money. A blockchain based crowdfuding system using Ethereum Network is modelled, designed and deployed; further, evaluation of the system performance is presented.