Blockchain for Secure and Efficient Crowdfunding: An Optimized Particle Swarm Approach
M Lakshmanan, G. S. Anandha Mala, R. Poorni, G. Ilamurugan, R. Sriramkumar, R. Gnanavel
Abstract
Crowdfunding, a method of raising capital through collective contributions, often faces challenges related to transaction efficiency, security, and transparency. Blockchain addresses these issues by providing a decentralized, transparent, and secure environment for transactions, while smart contracts automate the fund release process based on predefined conditions. PSO, a nature-inspired optimization algorithm, is applied to optimize various crowdfunding parameters such as funding strategies, donor behavior, and campaign success. By combining PSO with blockchain, the proposed model improves both the speed and security of crowdfunding transactions. This research presents an innovative approach to enhancing crowdfunding platforms by integrating Particle Swarm Optimization (PSO) with blockchain technology. Proposed Model achieves a 30% reduction in transaction time and a 40% improvement in security. This is achieved through the use of a Merkle tree for secure data storage and smart contracts to ensure efficient and automated fund management. The integration of PSO further optimizes key parameters, such as fund distribution and reward allocation, leading to a more efficient and transparent platform. The combination of these technologies results in a crowdfunding experience that is not only faster but also more secure and reliable, enabling global, borderless funding while minimizing fraud and enhancing trust among participants. This research highlights the potential of OPSA-enabled blockchain solutions to transform the crowdfunding landscape, offering a more efficient, secure, and transparent funding platform.