CFChain: A Crowdfunding Platform that Supports Identity Authentication, Privacy Protection, and Efficient Audit

Abstract

Charity crowdfunding is a technique for raising funds that involves collecting modest contributions from a vast number of individuals or groups via established crowdfunding platforms or other digital avenues. The objective is to provide support for charitable organizations, social welfare initiatives, or personal requirements. The widespread adoption of the Internet and the rapid advancement of digital technology have facilitated the global dissemination and promotion of charity crowdfunding. However, crowdfunding platforms have recently experienced a decline in credibility due to various factors such as fraudulent donations, inadequate fund management, and other forms of disorder. The blockchain’s decentralization and anti-tampering features exhibit a high degree of compatibility with the requirements of a crowdfunding platform. Most current state-of-the-art techniques do not ensure the non-linkability of user identities in the face of sybil attacks, nor do they offer a streamlined auditing mechanism for crowdsourcing modest donations that simultaneously preserves transactional privacy. This paper presents a novel crowdfunding system called CFChain based on blockchain technology. Initially, the distributed identity and BLS signature are employed to establish a user authentication mechanism, enabling CFChain to withstand sybil attacks while preserving the non-linkability of user identities. Subsequently, a crowdfunding mechanism is constructed utilizing zero-knowledge proofs to facilitate streamlined auditing procedures while safeguarding donations’ confidentiality. Additionally, a security analysis of CFChain is presented. The system prototype is subsequently implemented on the Hyperledger Fabric. Empirical evidence indicates that the efficiency of CFChain is viable.