What is White Paper and What Does It Do?
The White Paper, one of the most important components in the crypto community, is the technical document in which detailed information about crypto money and blockchain projects is written. People who develop crypto money or blockchain projects with white papers make an announcement before presenting their projects to users.
In this article, we will try to convey all the details about white paper, along with the answer to the question of what is white paper.
What is White Paper?
The white paper is an academic-level document that includes detailed information such as what any cryptocurrency or blockchain project is, how it works, and its purpose. With white papers, project developers often specify every detail of the project in a way that leaves no question marks in the minds of users. Project owners present the white papers they have prepared to the public before the project launch, that is, before it is listed.
In short, white paper is a technical document or document in which crypto money and blockchain projects are explained to users step by step with every detail.
For What Purpose Is The White Paper Written?
First of all, project developers can promote their projects with white paper. Project developers can aim to find funds for their projects by explaining their projects to the user with white papers. Especially those who develop crypto money projects that will be offered to the public with ICO can often consider the white papers they have prepared. Thus, the white paper of a project becomes a kind of guide for users who want to invest in the project.
How to Write a White Paper?
First of all, the white paper should be written in a technical language, that is, it should not be written in a flexible language like in social media or blog posts. A white paper should contain all the details about the project, all the information about the project such as numerical data, graphics, codes, and all the details about the project. In addition, the white paper should never contain assumptions, guesses and unconfirmed conclusions. Instead, the solution suggestions provided by the project can be shared.
Frequently Used Topics in White Papers
White paper, that is, technical documents, may vary in content according to the information they contain and the project they cover, but in general, the content of a white paper has the same content plan to a large extent and detailed information is given to the researchers by creating it according to this plan.
Introduction: This section usually briefly summarizes what the problem the project is solving. In this section, there is also a brief summary of the solution proposal offered by the project.
Disclaimer: In this section, legal explanation is made and users are warned. These warnings often explain that what is written in the whitepaper is not an investment recommendation. In rare cases, it is stated in which countries some projects are valid and in which countries they are not.
Table of Contents: It is a list of the titles in the white paper. Since white papers are comprehensive and long articles describing all projects, it is convenient for readers to have a list of contents.
Purpose of the Project: In this section, the problem that needs a solution in the market, which is explained in the introduction, is explained in detail. How to find a solution to this solution of this developed project is explained in detail in this section.
Cryptocurrency of the Project: In this section, details about the crypto currency belonging to the project are explained. This information mostly includes information such as what the purpose of use of crypto money is, how many units its supply is limited to. Also, in this section, there is information about whether the supply of the project’s crypto money is distributed to the project owners or how much of it is distributed.
Project Development Team: Detailed information about the person, institution or organization that developed the project is included in this section.
Roadmap: The targets of the project for the next years are stated in this section. Goals for the future are often stated in the form of a timeline.
Who Owns the First White Paper?
The first white paper to be written is the white paper of Bitcoin, called Bitcoin: A Peer-to-Peer Electronic Cash System, written by an anonymous person or group named Satoshi Nakamoto. In addition to being the first white paper written in the history of blockchain and crypto money, it has become an important example for the projects developed after him.
