The blockchain industry isn’t as traditional as other industries, as a result, it can be difficult for many people to learn about Bitcoin or other cryptocurrencies. We’ve created this helpful guide to effectively read any cryptocurrency whitepaper. Enjoy!
(All About Whitepapers was originally created: Feb. 2018 but has been re-formatted here to fit Medium’s platform. You can see the original here: [ link ])
Introduction:
What is a Whitepaper?
A whitepaper is a document presented by a company, start-up or team to inform and encourage investors to participate in the project’s idea or ICO. Whitepapers details everything you need to know about the project before making up your mind about investing, participating, or purchasing.
Why a Whitepaper?
Whitepapers are created to detail everything you possibly need to know about that project. Explaining a problem, a solution, and how the business plans to operate and accomplish their goals.
Different Kinds of Whitepapers:
- Problem/Solution
Recommending a new and improved solution to a problem. This type is best used to generate leads at the top of the sales funnel, build mind share, or inform and persuade stakeholders, building trust and credibility.
- Bluepaper
Bluepapers set out technical specifications of a technology or product. Occasionally you will see these released later or separate from a businesses whitepaper. The earlier a business can show the technical details and specifications the better for their over-all credibility.
- Yellowpaper
Rarely do you see yellowpapers in crypto; but yellowpapers are synonymous with preprints. They are documents containing research that has not yet been formally accepted or published in an academic journal.
All About Whitepapers:
Does Every Crypto Have One?
No, not all cryptos have a Whitepaper. Most cryptos will publish their whitepaper upon inception. There may be updated whitepapers, which include roadmaps, projections, and where the company/party is at present.
Are Whitepapers Lengthy Reads?
Today, most whitepapers are between 15–40 pages in length, and can require some technical knowledge. Bitcoin’s whitepaper was completed in only 9 pages and one of them is just references; check it out below!
The First Cryptocurrency Whitepaper
Bitcoin is Created
January 2009, Satoshi Nakamoto and a team of inclined individuals have finished their project- a decentralized electronic currency exchange, naming it: Bitcoin. Detailing the process and explaining what needs to happen in order for the technology to work properly and thrive in the future. The Bitcoin Whitepaper is attached below, and it is ABSOLUTELY fundamental to your understanding of a whitepapers and cryptocurrencies.
BITCOIN WHITEPAPER
Whitepapers are a great source of info and vocabulary! Reading different whitepapers is an important step to expanding your knowledge on the industry, and the changes that are taking place.
Whitepapers Today
Today, a decade after Bitcoin’s whitepaper was published, whitepapers and the idea’s behind them are similar but vastly different. Sometimes, reading the associated roadmaps can help. Check out: All About Roadmaps for more information on reading roadmaps. Posted below is a “market overview” originally taken from coinmarketcap in Feb. of 2018. This shows the top 40 cryptos by market cap with hyperlinks to available whitepapers:
To view the market overview we have, as well as the links to the cyrptocurrency whitepapers, please see the original word document: [ link ].
Each whitepaper varies, and you should read the whitepaper and roadmap for every cryptocurrency investment you think you might make. You may be able to save yourself some pain by spotting a “fake” or “scam” whitepaper. Do your due research as an investor.
Conclusion — a few key points:
- Whitepapers are important to show: goals, projections and problem/solutions. It is in the businesses best interest to include honest data in the whitepaper, in order to appeal to different traders and interests throughout the world.
- One of the main purposes of a whitepaper is to catch the eye of the reader. Writers of whitepapers want to have exciting, promising, and sustainable information.
- When reading a whitepaper it is important to remain objective and a diligent as possible. It is important to learn to identify and understand this information. If you don’t, you’ll find that businesses often exaggerate information in order to increase speculation around their project.
- There are 40 different whitepapers in the original publishing: [here ]. Examine and cross reference these, come up with your own conclusions about different cryptos, their futures, and how they plan on achieving those futures. This is fundamental when examining a projects fundamentals.
