A whitepaper is a document detailing the technology behind a crypto/nft project and the roadmap (plan) for how the project would grow and succeed.
The Long Explanation
Whitepapers have become a staple in the crypto/nft industry. For most investors looking to invest in an upcoming crypto project, reviewing the project’s whitepaper is an important determinant for whether the project would succeed or flop.
The reason for this is simple. Whitepapers explain the technology, purpose and plan for a project.
The typical whitepaper isn’t particularly salesy, nor is it flashy. Instead, it’s designed to educate the reader about the project’s products/services, in order to stir investor interest in the project.
Today’s whitepapers help investors decide whether a project is legit or not. In addition to demonstrating how the project’s products/services are to be used, it also highlights the differences between the project and its competitors.
Given its importance in the crypto space, every crypto project has a whitepaper. A well-written, elaborate whitepaper drives investment, while a badly written one repels investors.
The first, and arguably the most popular, crypto whitepaper remains the Bitcoin whitepaper. Published by the pseudonymous Satoshi Nakamoto in 2008, it details the vision behind the development of Bitcoin which was eventually launched in January 2009.