Research on Bitcoin-Compatible Off-Chain Multi-Channel Crowdfunding Method with Transaction Amount Privacy

The emergence of blockchain technology has solved the drawbacks of the traditional Internet crowdfunding model. Its decentralized feature effectively avoids single-point failures brought about by the centralized architecture. Moreover, on-chain transactions are publicly transparent, traceable and immutable, providing security guarantees for transactions. However, the issues of blockchain scalability and scripting languages have always been the focus of attention in both the industrial and academic communities.The scalability issue refers to the overly long confirmation time for on-chain transactions, and the transaction throughput is difficult to meet the requirements of actual application scenarios, with users facing high transaction fee expenditures. To address these two issues, the payment channel scheme implemented with the Bitcoin-Compatible scripting language is currently one of the most effective solutions.In the scheme proposed in this paper, the investors and the crowdfunding initiators conduct transactions through the payment channels constructed by both parties using the Bitcoin-Compatible scripting language and meet the application functions of crowdfunding. That is, only when the investment amounts participating in the crowdfunding meet the required amounts of the crowdfunding can the transaction be regarded as successful, and the funds will be transferred to the initiator. If the amounts do not meet the initiator's requirements, all the funds will be returned to the investors.