WeiFund is a crowdfunding platform that leverages smart contracts.Founded and developed primarily by Nick Dodson, WeiFund is a spoke within the ConsenSys dApp ecosystem.Crowdfunding has changed the way organizations, groups and individuals have raised capital in the 21st century.In the past decade, conventional crowdfunding has positively impacted millions of worthwhile endeavors.However this movement is still in its infancy and new developments in decentralized technologies, specifically the blockchain, will initiate a new paradigm of capital raising and market-making in general.This post will cover conventional crowdfunding as it stands, and outline the future of its evolutionary counterpart — decentralized crowdfunding — and how Weifund is paving the path towards that future.Crowdfunding exemplifies a trend toward development of projects with customer and fan bases already defined.It resembles a swarm-like motion toward specific ideas or inventions that actual people desire, with collaboration and community building core to its ethos.

Within the crowdfunding trend there is growing niche — decentralized crowdfunding.What separates this niche is both technical and philosophical in nature.Conventional crowdfunding is centralized and resembles a traditional corporation.It provides a service, charges a fee, and acts as a middleman or matchmaker [1].The critical difference in decentralized crowdfunding is that it will accomplish the connective matchmaking and initial service by replacing that corporation with software at a fraction of the cost it takes to run that traditional business.The technological stack it uses is uncensorable, unalterable and more secure than any possible combination of the technology previously available before it.Ethereum is an example of the underlying technology, which is a smart-contract ecosystem that will automate many intermediary business processes in a transparent and open manner [2].For crowdfunding, the future will become so basic, simple, and clear, that this new philosophical paradigm will appear to materialize without much work at all.

The bulk of the focus of business will shift from intermediaries to content creators, innovators, and a marketplace of participatory consumers.Using Ethereum, Nick was able to code a crowdfunding utility in under 150 lines of smart contract code.mine litecoin windowsThis fact is both a technological marvel and an important step toward a more free and democratic way to raise capital for projects, movements and ideas across the globe.WeiFund hopes to establish a beachhead in decentralized or web 3.0 crowdfunding.dogecoin developmentIt intends to be ultimately supportive of campaigns and platforms in the space for years to come, by providing the initial code, interfacing and resources to make crowdfunding a fundamentally accessible and free utility for everyone.WeiFund is not just a crowdfunding utility for merely raising capital.tor bitcoin donation

It is extensible and modular so that other smart-contracts can interface interdependently with its core.ethereum voting exampleFor example, this will allow individuals to start equity crowdfunding campaigns where the headache of share issuance, management and ownership is a thing of the past.ethereum launch in chinaThink of receiving 1000 shares in a project you just contributed to, and within seconds trading those shares on a virtual exchange such as EtherEx.ethereum backed byWith this utility, we can collectively organize our ideas and resources efficiently , outside of the baggage that has followed such economic behaviours in the history of investment.Campaigns operated on smart-contract ecosystems can be hyper-financed, where complex token or ledger systems can be instantaneously implemented in real-time, tremendously expanding the set of available options for investors, contributors and campaign operators [2].ethereum 1060

WeiFund and similar decentralized crowdfunding platforms will leverage the inherent nature of smart contracts to open the front door of this technology.ban bitcoin vozFrom here, we can begin to discuss what future we want to build for ourselves.bitcoin mining atom//ethereum/wiki/wiki/White-Paper (last visited Oct 4, 2015).[3]bitcoin armory tor//files/file_attachments/ib-wealth-having-all-wanting-more-190115-en.pdf (last visited Oct 4, 2015).[4]litecoin price nz/sites/theyec/2015/02/20/the-future-of-crowdfunding-what-the-next-5-years-will-bring/ (last visited Oct 4, 2015).[5]earn bitcoins hourly/article/248122(last visited Oct 4, 2015).[6]wow ethereal item upgrade

“/wp-content/uploads/2014/09/23.-The-Future-of-Crowdfunding.pdf (last visited Oct 4, 2015).[7]bitcoin pizza index/2015/05/68010-fund-forward-8-exciting-trends-in-crowdfunding-that-are-coming-sooner-than-you-think/ (last visited Oct 4, 2015).bitcoin mining pool share calculatorYou could ask for donations, but donors prefer to give to projects they are more certain that will get traction and proper funding.bitcoin trade romaniaSince the code is open and auditable, there is no need for a centralized trusted platform and therefore the only fees everyone will pay are just the gas fees.btc-e bitcoin withdrawal timeIn a crowdfunding prizes are usually given.mine litecoin on windows

This would require you to get everyone's contact information and keep track of who owns what.bitcoin euro achatBut since you just created your own token, why not use that to keep track of the prizes?bitcoin/altcoin scrypt mining rigThis allows donors to immediately own something after they donated.subway using bitcoinThey can store it safely, but they can also sell or trade it if they realize they don't want the prize anymore.bitcoin remittanceIf your idea is something physical, all you have to do after the project is completed is to give the product to everyone who sends you back a token.bitcoin binary mlmIf the project is digital the token itself can immediately be used for users to participate or get entry on your project.bitcoin elliott wave

The way this particular crowdsale contract works is that you set an exchange rate for your token and then the donors will immediately get a proportional amount of tokens in exchange of their ether.litecoin opinionYou will also choose a funding goal and a deadline: once that deadline is over you can ping the contract and if the goal was reached it will send the ether raised to you, otherwise it goes back to the donors.litecoin download minerDonors keep their tokens even if the project doesn't reach its goal, as a proof that they helped.litecoin peercoin namecoinBefore we go further, let's start by setting the parameters of the crowdsale: On Beneficiary put the new address that will receive the raised funds.ethereum forecast 2017

The funding goal is the amount of ether to be raised.ethereum cnbcDeadline is measured in blocktimes which average 12 seconds, so the default is about 4 weeks.bitcoin in-q-telThe price is tricky: but just change the number 2 for the amount of tokens the contributors will receive for each ether donated.bitcoin billionaire you win someFinally reward should be the address of the token contract you created in the last section.linux armory bitcoinIn this example you are selling on the crowdsale half of all the tokens that ever existed, in exchange for 100 ether.bitcoin reach 10000Decide those parameters very carefully as they will play a very important role in the next part of our guide.bitcoin miami conference

You know the drill: if you are using the solC compiler,remove line breaks and copy the following commands on the terminal: If you are using the online compiler Copy the contract code to the online solidity compiler, and then grab the content of the box labeled Geth Deploy.acheter bitcoin a parisSince you have already set the parameters, you don't need to change anything to that text, simply paste the resulting text on your geth window.bitcoin hashrate poolsWait up to thirty seconds and you'll see a message like this: If you received that alert then your code should be online.bitcoin connect through socks proxyYou can always double check by doing this: Now fund your newly created contract with the necessary tokens so it can automatically distribute rewards to the contributors!china dominate bitcoin

After the transaction is picked, you can check the amount of tokens the crowdsale address has, and all other variables this way: You want to be alerted whenever your crowdsale receives new funds, so paste this code: You are now set.ethereum coin explainedAnyone can now contribute by simply sending ether to the crowdsale address, but to make it even simpler, let's register a name for your sale.ethereum game theoryFirst, pick a name for your crowdsale: Check if that's available and register: Wait for the previous transaction to be picked up and then: Contributing to the crowdsale is very simple, it doesn't even require instantiating the contract.ethereal band wikiThis is because the crowdsale responds to simple ether deposits, so anyone that sends ether to the crowdsale will automatically receive a reward.johnny london bitcoin

Anyone can contribute to it by simply executing this command: Alternatively, if you want someone else to send it, they can even use the name registrar to contribute: Now wait a minute for the blocks to pickup and you can check if the contract received the ether by doing any of these commands: Once the deadline is passed someone has to wake up the contract to have the funds sent to either the beneficiary or back to the funders (if it failed).litecoin 2014 chartThis happens because there is no such thing as an active loop or timer on ethereum so any future transactions must be pinged by someone.litecoin pool registerYou can check your accounts with these lines of code: The crowdsale instance is setup to self destruct once it has done its job, so if the deadline is over and everyone got their prizes the contract is no more, as you can see by running this: So you raised a 100 ethers and successfully distributed your original coin among the crowdsale donors.berita bitcoin 2015