Blockchain Crowfunding DApp
Author: Success Aje
Institution: The Federal University of Technology Akure
Department: Computer Engineering
Supervisor: Prof. E.O Ogunti
Project Title: Blockchain Crowfunding DApp
Date: March 4, 2024
For my final year project, I developed a decentralised crowdfunding application (DApp) on the Solana blockchain using the Anchor framework. This project aimed to leverage the benefits of blockchain technology to create a transparent, secure, and efficient platform for crowdfunding initiatives.
Note: This work is not yet published.
Project Overview
The Crowdfunding DApp enables students and project creators to raise funds for their academic needs and projects by setting up campaigns that potential backers can contribute to. The application ensures transparency and security, as all transactions and campaign details are recorded on the Solana blockchain.
Key Features
- Campaign Creation: users can set up new crowdfunding campaigns with details such as funding goals, deadlines, project descriptions etc.
- Contribution Management: Backers can contribute to campaigns using Solana tokens (SOL). Contributions are securely recorded on the blockchain.
- Milestone Tracking: Campaigns can set milestones, and funds are released based on milestone achievements, ensuring accountability and progress.
- Refund Mechanism: If a campaign does not reach its funding goal by the deadline, backers are automatically refunded, ensuring fair practices.
- Decentralised Governance: Decisions regarding fund releases and campaign progress are governed by smart contracts, reducing the risk of fraud and manipulation.
Technology Stack
- Solana Blockchain: The high-performance Solana blockchain provides the necessary speed and scalability for handling numerous transactions.
- Anchor Framework: Anchor simplifies the development of Solana-based smart contracts, providing a powerful and efficient framework for building decentralised applications.
- Rust Programming Language: The smart contracts were written in Rust, leveraging its performance and safety features.
Implementation Details
- Smart Contract Development: Developed the core smart contracts using Rust and Anchor, handling campaign creation, fund contributions, milestone tracking, and refunds.
- Frontend Integration: Built a user-friendly frontend using React.js to interact with the smart contracts, providing an intuitive interface for campaign creators and backers.
- Testing and Deployment: Conducted extensive testing on the Solana testnet to ensure the DApp’s functionality and security before deploying it to the mainnet.
Challenges and Solutions
- Scalability: Leveraged Solana’s high throughput capabilities to handle a large number of transactions efficiently.
- Security: Implemented thorough security measures, including input validation, secure transaction handling, and rigorous testing to prevent vulnerabilities.
- User Experience: Focused on creating an intuitive and seamless user experience, simplifying the process of creating and backing campaigns.
Conclusion
This project demonstrates the potential of blockchain technology in revolutionising the crowdfunding landscape. By leveraging Solana and Anchor, the Crowdfunding DApp offers a transparent, secure, and efficient platform for raising funds and supporting innovative projects. This experience has deepened my understanding of blockchain development and the practical applications of decentralised technologies.
Acknowledgments
I would like to thank my professors and peers for their guidance and support throughout this project. Special thanks to the Solana and Anchor development communities for their invaluable resources and assistance.
Recommended citation: Aje, S.(2024). Decentralised Crowdfunding platform built on Solana using Rust Anchor framework. Unpublished manuscript, supervised by Prof. E.O. Ogunti, Department of Computer Engineering, The Federal University of Technology Akure
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