Transparent Fundraiser for Projects Using Blockchain Technology
Sharmila Shanthi Sequeira, Rahul Sinha, Mihir Kasundra, Stuti Prasad · 2023
The evolving developments in blockchain technology have helped in deriving a path through which the community can achieve to develop a healthy platform that is transparent and trustworthy for both investors as well as startups. It is with the help of core logic for handling mechanisms and the brain of blockchain, also known as smart-contract that it utilizes in achieving this goal. The paper presents the implementation of such a logic which helps in achieving the solution to the issues faced by earlier-generation ICOs. The work involves the addition of an extra layer of a smart contract wherein the funds will be stored instead of going directly to the owner’s account. The money gets transferred only upon receiving majority votes from the investors on the withdrawal request made by the owner. This ensures the money is spent well and the owner doesn’t run away with all the stored money.