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

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.