Decentralized Crowdfunding Platform
The project basically aims in eliminating the fraud that takes place on the existing crowdfunding platforms in which managers run away once the minimum donation requirements are met.
About
The problem it solves Campaigns in an ideal world, managers could create campaigns and raise funds from donors to make products and other things.Many of them make good products and backers/donors are happy with their products, but many campaigns are fraudulent and run away once the minimum donation requirements are met. This is a serious issue, because many people trust the campaign and donate to the campaign, eager to use their products. Our approach is to reduce fraud by introducing consensus voting into our campaigns. When a manager creates a campaign, he creates or deploys a new smart contract. This contract behaves differently than other smart contracts deployed by other managers in his campaigns. The manager has to create a spending request and send money/ether to the vendor. He cannot send donations directly to vendors. Once a request is generated, a backer can vote on the request and approve the request so that the manager sends funds to a verified/authenticated vendor instead of his account. When a person funds a campaign, the donated Ether is collected securely in the contract wallet, so managers have no control over the funds and cannot withdraw funds from the contract. This ensures security and completely eliminates fraud that can occur due to inappropriate behavior of the campaign manager, and the entire campaign is managed by the Smart Contract. **Consensus Rule** : If at least 50% of backers agree to the request, the request is approved and only managers can finalize the request, thus providing a reasonable amount to the vendor.
How it's made
Challenges we ran into Few challenges we ran into: 1. First, we developed a smart contract, deployed it using the Remix IDE, and made sure the contract worked smoothly. *Problem faced:* Solidity was a new language for everyone, so it was tedious to learn and writing smart contracts, it took a lot of time. After learning how to create smart contracts, we started writing small contracts such as transactions between two accounts, lotteries, and simple voting systems. In the end we tried our best to develop our smart contract for crowdfunding campaign. 2. Since we later decided to create a multi-page application, we decided to use the Next.js a JavaScript framework for the react library. Next.js helps you build multi-page applications with features like server-side rendering, static website generation, and built-in routing. *Issue encountered:* Our team developed applications in Javascript, but had never used frameworks, especially next.js. Deciding on a CSS framework for the website was also a daunting task. We finally reached consensus and found the Semantic UI to be simple and effective. **_The project is fully functional except we somehow faced problem in its deployment. Due to which we are attaching the link of the github repo on which we have pushed the whole soure code along with node_modules for easy setup._**