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Implementation of a Decentralized Crowdfunding Platform on the Solana Blockchain for Secure and Transparent Fundraising
Subject area: Science,Engineering and Technology · Area of research: Blockchain
Abstract
Blockchain technology has revolutionized decentralized applications, but scalability and security remain key challenges. In this paper, we analyze Solana, a high- performance blockchain, and compare its efficiency with leading networks such as Ethereum, Avalanche, Polygon, and Binance Smart Chain (BSC). Our findings reveal that Solana?s unique Proof of History (PoH) and Proof of Stake (PoS) hybrid consensus mechanism significantly enhances transaction throughput and network security. By leveraging these innovations, Solana achieves unparalleled scalability, processing thousands of transactions per second while maintaining low fees and high security through decentralization. Furthermore, we evaluate Solana?s architecture in contrast to traditional blockchain networks, addressing aspects such as validator distribution, transaction finality, and network efficiency. Our analysis highlights how Solana?s high validator count and optimized consensus mechanism reduce centralization risks and improve network security. Solana processes transactions up to 200 times faster than Ethereum, 2 times faster than Avalanche, and 40?50 times faster than Polygon and BSC. Additionally, Solana operates with over 2,000 validators, making it more decentralized and secure compared to BSC (21 validators) and Polygon (~100 validators), and slightly more decentralized than Avalanche (~1,600 validators). These findings reinforce Solana?s position as a next-generation blockchain solution, making it an ideal infrastructure for secure decentralized finance (DeFi), crowdfunding, and high-speed applications.
Keywords
Blockchain, Solana, Rust Language, Crowd funding, Finance, POH
How to cite this paper
@article{1708738,
author = {Mujeeb Ashfaque Ahmed, Dr. Sharada K A, Pratap Singh ML, Rabin Bahadur Sharki, Mallikarjuna},
title = {Implementation of a Decentralized Crowdfunding Platform on the Solana Blockchain for Secure and Transparent Fundraising},
journal = {Iconic Research And Engineering Journals},
year = {2025},
volume = {8},
number = {11},
pages = {1810-1818},
issn = {2456-8880},
url = {https://www.irejournals.com/formatedpaper/1708738.pdf},
abstract = {Blockchain technology has revolutionized decentralized applications, but scalability and security remain key challenges. In this paper, we analyze Solana, a high- performance blockchain, and compare its efficiency with leading networks such as Ethereum, Avalanche, Polygon, and Binance Smart Chain (BSC). Our findings reveal that Solana?s unique Proof of History (PoH) and Proof of Stake (PoS) hybrid consensus mechanism significantly enhances transaction throughput and network security. By leveraging these innovations, Solana achieves unparalleled scalability, processing thousands of transactions per second while maintaining low fees and high security through decentralization. Furthermore, we evaluate Solana?s architecture in contrast to traditional blockchain networks, addressing aspects such as validator distribution, transaction finality, and network efficiency. Our analysis highlights how Solana?s high validator count and optimized consensus mechanism reduce centralization risks and improve network security. Solana processes transactions up to 200 times faster than Ethereum, 2 times faster than Avalanche, and 40?50 times faster than Polygon and BSC. Additionally, Solana operates with over 2,000 validators, making it more decentralized and secure compared to BSC (21 validators) and Polygon (~100 validators), and slightly more decentralized than Avalanche (~1,600 validators). These findings reinforce Solana?s position as a next-generation blockchain solution, making it an ideal infrastructure for secure decentralized finance (DeFi), crowdfunding, and high-speed applications.},
keywords = {Blockchain, Solana, Rust Language, Crowd funding, Finance, POH},
month = {May},
}