Authors: Ms. Vaibhavi P. Gawande, Dr. R. S. Durge
Abstract: Decentralized crowdfunding platforms represent a paradigm shift in fundraising, harnessing blockchain technology to disrupt traditional models dominated by intermediaries. By leveraging smart contracts on networks like Ethereum, these platforms facilitate direct interactions between creators and backers globally, ensuring transparency, security, and reduced transaction costs. Core features include immutable transaction records, automated fund releases governed by smart contracts, and enhanced trust through decentralized validation. Key benefits encompass increased accessibility for global participants, lower fees compared to conventional platforms, and improved security against fraud. Technologically, these platforms integrate Web3 interfaces, cryptocurrency wallets like MetaMask, and programming languages such as Solidity for smart contract development.
