Inspiration

There have been numerous incidents, big and small, where lenders change their policy for their customers' loans. Our app, EtherLoan, solves this issue by providing transparency to all parties involved in such agreements using decentralized computing.

What it does

By using Ethereum Blockchain with MetaMask, it constructs a public ledger that allows for easily verifiable payment of loans that is immutable and everlasting.

How we built it

We used MetaMask and Solidity to talk Ethereum test network and along with the integration of NodeJS with Web3 and truffle, we finally got it to work at 3 AM.

Challenges we ran into

We had not much experience in coding in Solidity and were originally unfamiliar with MetaMask, which made it a steep learning curve for us to overcome.

Accomplishments that we're proud of

After creating the application during the hackathon, we are pleased how EtherLoan turned out and how it creates a far more transparent system for borrowing Ethereum,

What we learned

We learned how to configure a decentralized application using Solidity and MetaMask.

What's next for EtherLoan

We would like to improve our user interface and possibly extend the functionality to include interest rate.

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