Crowdfunding is a growing online fundraising method that enables companies to quickly raise funds for product development. However, many platforms are centralized and face issues with credibility and fund misappropriation, undermining contributor trust and threatening sustainable growth. Through in-depth research on crowdfunding platforms, we have proposed a more secure blockchain-based crowdfunding platform. Firstly, we use blockchain technology to build a distributed crowdfunding platform for the sake of achieving distributed storage of data and transparency of transaction data, which greatly improves the reliability and conviction of the platform. Secondly, we optimize the crowdfunding process by adding a peer review mechanism to provide contributors with expert review opinions to reduce the incidence of fraud and exaggerated publicity. Finally, we have designed some mechanisms to protect the rights of contributors, such as a schedule management mechanism and an individual withdrawal mechanism. Although the above practices incur some overheads, we believe that they are necessary to enhance the security of crowdfunding platforms for long-term development and have a positive impact on social development.

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A More Secure Blockchain-Based Crowdfunding Platform

  • Xintao Zhuo,
  • Jinhui Wei,
  • Junbin Yuan,
  • Qingzhen Xu,
  • Qiang Chen

摘要

Crowdfunding is a growing online fundraising method that enables companies to quickly raise funds for product development. However, many platforms are centralized and face issues with credibility and fund misappropriation, undermining contributor trust and threatening sustainable growth. Through in-depth research on crowdfunding platforms, we have proposed a more secure blockchain-based crowdfunding platform. Firstly, we use blockchain technology to build a distributed crowdfunding platform for the sake of achieving distributed storage of data and transparency of transaction data, which greatly improves the reliability and conviction of the platform. Secondly, we optimize the crowdfunding process by adding a peer review mechanism to provide contributors with expert review opinions to reduce the incidence of fraud and exaggerated publicity. Finally, we have designed some mechanisms to protect the rights of contributors, such as a schedule management mechanism and an individual withdrawal mechanism. Although the above practices incur some overheads, we believe that they are necessary to enhance the security of crowdfunding platforms for long-term development and have a positive impact on social development.