A whitepaper on cryptocurrency allows projects to explain their products and goals to their target audiences. Projects are free to provide information, but whitepapers typically include an overview of the project’s goals, tokenomics, products, features, and team information. As a result, whitepapers can be a good place to start when conducting research on a specific project. Below is a fool-proof blockchain white paper template for founders.
What is a whitepaper?
A whitepaper is generally a report or guide that informs readers about a specific topic or issue. Developers, for example, can create a whitepaper about their software to educate users on what they are creating and why.
A whitepaper is a document in the blockchain space that helps outline the main features and technical specifications of a specific cryptocurrency or blockchain project. Although many whitepapers are focused on a coin or token, they can also be based on other projects, such as a Defi platform or a play-to-earn game.
Elements of a whitepaper
Crypto whitepapers are typically 25 pages long and contain a wealth of information. But what do they usually consist of? We’ll give you the skinny:
- The problem and solution – This section introduces the project, including the problem it intends to solve and how it wants to solve it. The solution includes a complete product description as well as a market analysis to demonstrate the product’s exact need and how it fits into the existing market.
- Token information and marketplace consideration – Information is critical for investors to understand when launching an ICO. This includes information about the new crypto tokens, such as their value, how many will be in circulation, and the platform on which they will operate. Whitepapers should also explain how investors can redeem their tokens and what will happen if the ICO fails to meet its funding goals.
- Technical description – This section, which is an essential part of any crypto whitepaper, explains the technical aspects and technology behind the project.
- Project timeline – This document outlines an operational plan for the coming months, including what will happen, when sales will begin, and when the token will be launched.
- Team and advisors – This section introduces the project’s founders, employees, and advisors. This, like the technical aspects, is an essential factor because it provides crucial information on the team’s skills and experience, as well as its relevance to the project.
Examples of blockchain white paper template
Satoshi Nakamoto, an anonymous individual or group, published the bitcoin whitepaper in 2008. “Bitcoin: A Peer-to-Peer Electronic Cash System” is the title of the Bitcoin whitepaper.
The whitepaper explains how Bitcoin can be used as a more efficient form of money outside of the traditional banking model. It explains how the Bitcoin network enables users to send digital currency on a peer-to-peer network without intermediaries. In addition, the whitepaper explains how the Bitcoin network is protected from censorship and double-spending attacks.
In 2014, a young programmer named Vitalik Buterin published the Ethereum whitepaper. However, Vitalik proposed the whitepaper concept in a blog post titled “Ethereum: The Ultimate Smart Contract and Decentralized Application Platform” in 2013. The post introduced the idea of a Turing-complete blockchain, a decentralized computer that, given enough time and resources, can run any application.
The Ethereum whitepaper explains how it differs from Bitcoin in its purpose. Unlike Bitcoin, which has a specific function of providing digital peer-to-peer payments, the Ethereum whitepaper proposed a platform that would allow developers to build and deploy all types of decentralized applications.
A whitepaper should give you the necessary understanding of what and how the cryptocurrency project intends to do. Whitepapers, however, are not regulated and can be written by anyone. Besides the blockchain white paper template, if you are interested in researching blockchain development, contact SmartOSC.
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