Decentralized Crowdfunding Platform
The goal is to construct a decentralized crowdfunding platform facilitating project creators
in acquiring
funds from a global pool of investors, bypassing traditional intermediaries. Key features to
be incorporated
include smart contract-based escrow services, voting mechanisms for project selection, and
reputation
systems aimed at instilling trust.
Clarification: In traditional crowdfunding platforms, intermediaries often introduce
opacity and insecurity.
The challenge presented is to devise a decentralized crowdfunding platform utilizing
blockchain technology. This platform
must ensure transparent fundraising, secure transactions, and equitable distribution of
funds. Utilizing
smart contracts, participants can introduce functionalities like escrow services, voting
mechanisms for
project selection, and reputation systems to cultivate trust among stakeholders. Moreover,
the solution
should adhere to regulatory standards and address issues such as fraud prevention, investor
safeguarding,
and conflict resolution. Following development, the solution should be deployed on a testnet
chain, and
both the contract address and code should be publicly accessible on GitHub for transparency
and scrutiny,
including the frontend component.
