Security Enhanced Crowdfunding Using Blockchain and Lattice Based Cryptosystem
K. Vidya, Hussain Imthiaz Hussain, Vishal Celestine, V. Siva Kumar, Noel Jeygar Robert V · Research Square · 2022
Abstract Crowdfunding is a method of raising funds from a large number of individuals or businesses. Investors can contribute to any project they are interested in and earn if the initiative is successful. Many crowdfunding sites now exist, and they accept large sums of money from investors and contributors and then leave them with bogus promises. Blockchain-based crowdfunding alters the usual approach to company finance. Generally, when people need to acquire funds to start a firm, they must first develop a strategy, statistical surveys, and models, and then offer their ideas to attract people or organisations. Banks, individual investors, and venture capital firms were among the sources of funding. The modern crowdfunding concept is based on three types of on-screen characters: the task initiator who presents the idea or venture to be financed, individuals or investors who invest in the idea, and a platform that connects these two characters to make the venture successful. It can be used to fund a wide range of start-ups and new concepts, such as inventive activities, medical improvements, travel, and social commercial enterprise projects. This work presents a practical implementation of a crowdfunding application that is secured by a lattice-based cryptosystem for encryption of user data and zero-knowledge proof for the identification of application users. Additionally, machine learning has been used for prediction of campaign success for the benefit of fund contributors.