Wednesday, November 29, 2023

Kickstarter to Move the Crowdfunding Platform to the Blockchain

According to online news sources, the American public benefit corporation Kickstarter is planning to make some major changes in its core technology. On 8 December 2021, the company made a blog post explaining that it would be supporting an independent organization in building an open-source protocol. Through this, it will be able to create a decentralized model of the present functionality of Kickstarter. This open-source protocol will be live on a blockchain that will be open to the public. It will allow anyone and everyone to use it or build upon it.

It has been found that the protocol development will be undertaken by an independent organization. Kickstarter will aid in the development by providing group funding and appointing aboard. Kickstarter will also be the first client of the open-source protocol. In addition to all of this, the company is also planning to make a governance lab that will be independent. This lab will be overseeing the governance of the protocol. Kickstart has chosen a public blockchain by the name of Celo to build the protocol. Celo is known to use proof of stake that is more environmentally friendly.

The new company doesn’t have a name yet, as per the news sources. It has been found that the development will start in the first quarter of this year and that the Kickstarter website will be moving onto the new protocol sometime in 2022. The company has assured its users that the user experience and the model of the company will continue to be the same.

The co-founder of Kickstarter, Perry Chen, said in a recent public interview that starting on this project was a technical and large undertaking. However, the company was committed to going through with it as it fits with its mission to bring creative projects to life.

Cryptured Team
Cryptured Team
The writers team at is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.

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