CrowFunding

A decentralized ethereum blockchain based crowdfunding platform inspired by kickstarter.com

The Problem

To avoid Fraudulent Activities that arise around the world of StartUps and to increase Transparency ,there are Platforms that have been developed around it such as Kickstarter. Although stringent measures such as symmetric encryption are in place to make e-payment safe and secure, it is still vulnerable to hacking. Enterprises with in-house e-payment systems must incur additional costs in procuring, installing and maintaining sophisticated payment-security technologies. There is no guarantee that people who post projects on Kickstarter will deliver on their projects, use the money to implement their projects, or that the completed projects will meet backers' expectations. This project is a mockup of KickStarter built using smart contracts written in solidity. The app is built using Reactjs with the help of Nextjs.

What We Propose

The purpose of this project is to increase the credibility of crowdfunding campaigns created by platforms such as kickstarter.com with the use of blockchain.

• A user can become a manager of a campaign by creating a campaign and assigning a minimum contribution(in wei) that can be made to that campaign.
• Anyone who is interested in a campaign can support that campaign by contributing some amount of eth
• The manager can create funding requests for campaigns by specifying a description, funding amount and the recipient(address) who will be receiving the fund
• At least 50% of those who contributed to the campaign needs to approve a funding request in order for the manager to be able to finalize the funding and transfer the amount to the recipient of the funding request

Demo URL: https://crowdfunding-six.vercel.app/

Make sure to have metamask plugin installed in your browser

Prerequisites

• Google chrome with metamask plugin installed
• Infura endpoint to deploy contract (https://infura.io)
• Wallet mnemonic with the first wallet address containing some eth required to deploy the initial contract
• Metamask plugin should ideally be in the same network that infura url is pointing to
• Node.js
• Yarn or NPM

How to run

Install NodeJs and NPM

• Follow instructions from NodeJs Website

Install the required dependencies

  npm install 

Compile contracts in ethereum>contracts>Campaign.sol

  cd ethereum/contracts
  node compile.js

Test compiled Campaign contract inside test>

node test.js

Deploy the compiled contract

node deploy.js

To run Next.js in development mode, run the following command

npm run dev

• Access the Application

Technology Stack

• ReactJs
• Solidity
• NextJs
• Ethereum Smart Contract

Features

Secure Investment

Information is stored across a network of computers instead of on a single server, makes it very difficult for hackers to compromise the transaction data.

Voting Power for Investors

The creator can only use the money if a minimum number of contributors approve a certain request. It will make sure the money is used for Necessities rather than Luxuries.

Future work

• Improve overall UI/UX
• Add profit distribution mechanism so that profit that is generated is automatically distributed among the investors providing investors with additional layer of security of interests of investors.

Authors

• @shreyash bhimanwar
• @Onkar Viralekar