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Feasibility Analysis of Blockchain for Donation-Based Crowdfunding of Ethical Projects

  • Nida KhanEmail author
  • Rachid Ouaich
Conference paper
Part of the Advances in Science, Technology & Innovation book series (ASTI)

Abstract

Donation is a necessary social tool that is plagued by many inherent shortcomings. A novel model in the form of a decentralized app was designed in the Ethereum blockchain to solve the challenges present and optimize the process of Zakaah donation. Load and stress tests on the prototype of the smart contract in the public testnet of Ethereum were analyzed to gauge the feasibility of mass usage. Similar tests were done in Hyperledger to conclude on the optimum blockchain platform for Zakaah. An anomaly was detected during the testing phase of the decentralized app in the public testnet of Ethereum and it was exploited to propose a novel strategy to enhance the throughput of Ethereum. The testing is a pioneer in evaluating the throughput and feasibility of a blockchain based financial product and provides a benchmark to validate the business and technical hypotheses of other similar financial products and services.

Keywords

Blockchain Feasibility Donation Throughput Zakaah Smart contract Fintech 

Notes

Acknowledgements

This work is funded by the Luxembourg National Research Fund under it’s AFR-PPP Programme, which is aimed at providing Ph.D. and Post Doc grants for innovation and industry partnerships. The work came into execution by the efforts of Anass Patel from ConexCap [50] under the able guidance of Dr. Radu State from Services and Data Management in Distributed Systems Research Group [51].

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Copyright information

© Springer Nature Switzerland AG 2019

Authors and Affiliations

  1. 1.University of LuxembourgLuxembourg CityLuxembourg
  2. 2.ConexCapLuxembourg CityLuxembourg

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