WHAT IS WHITE PAPER? - IN CRYPTO PLATFORM?
If you are an investor, entrepreneur, developer, etc. and are interested inĀ blockchain space,Ā you should not need to avoid the white paper. Every week, there are new white papers on blockchain or cryptocurrencies that drive new technologies that "revolutionize" the industry.Ā Ā
As a result, white papers have become known as an important part of creatingĀ new blockchain projects or cryptocurrencies. Investors, businessmen, and developers expect documents that explain the problems the project solves and how they work.Ā
As a result, learningĀ to readĀ white papers is an important task for anyoneĀ involved in cryptography. As most investors and watchers in the industry know, there are several scams in this area.Ā
Introducing the white paper:
White papers are documents that investigate use cases for a product or service.Ā
Most blockchain investors are thinking about cryptocurrency white papers, but they have a long history in technology and economics in general. Moreover, they are not limited to technical applications and there are really no rules about what the white paper is. Anyone can post.
Ultimately, they are as interested in marketing asĀ explaining problems and solutions.Ā
There are some important questions to ask yourself to determine the legitimacy of the cryptocurrency white paper:Ā
Ā 1. What is this project doing?Ā
-The first question should be very simple, butĀ white papers are often confusing. The combination of buzzwords,Ā jargon, andĀ names created inĀ typical cryptocurrency white papers is often difficult to decipher.Ā If you don't know what the project is doing, there are two possible conclusions. The project is so advanced that it either requires more knowledge before it can be understood, or the project isn't really doing anything.Ā
- Once you understand what the project is trying to achieve, the next question is "how".Ā
Ā A goodĀ white paper on cryptocurrencies needs to explain howĀ technology works. By the end of the white paper, if you don't know whatĀ the project will solve and how it will work, the white paper is doing a bad job. In fact, a well-expressed white paper is a sign of a well-thought-out project.Ā
Ā 3. Why do you need this project?Ā
-It is important to consider the project in the context of the real world. Who will actually use this product? And why is this solution better than any other solution today? If the cryptocurrency white paper gives a solid answer as to who needs this project and why they need it, you have a good idea.Ā Ā
4. Why do you do this on the blockchain?Ā
-You don't have to build every projectĀ on the blockchain. The best white paper will be honest about why your solution needsĀ blockchain. Many projects openly admit to using blockchain onlyĀ for token generation and some smart contracts, but that's perfectly fine. But be careful if you claim that a startup has a novel idea, such as a blockchain-based car wash. After all, reading a cryptocurrency white paper is about knowing what to look for andĀ trusting your instincts.Ā
The white papers come from companies that aren't on the market yet, so there should be a lot of unknowns. If you decide to invest in a project,Ā follow a solid investment philosophy and don't invest more than you can afford to lose.Ā
ā The purpose of the white paper is to promote a particular product, service, technology, or methodology andĀ influence current and potential customer or investor decisionsā
Ā Pamphlets and other marketing materials are eye-catching and have obvious selling points, but white papers are a compelling fact / technique that a particular offer is a great way to solve a problem or challenge. ā
Designed to provide proof. White papers are designed for business-to-business (B2B) marketing purposes. For example, between a manufacturer and a wholesaler, or between a wholesaler and a retailer. The purpose of the white paper isĀ to inform and convince others that a particular offer, such as a product or technology, is better than solving a particular business problem or overcoming a particular challenge.
White papers are different from other marketing materials such as pamphlets. Pamphlets and other materials are eye-catching and have obvious selling points, but the white paper is a compelling fact that a particular product is a great way to address or solve a problem or issue.Ā
Ā SilverLine white paper?Ā
A compelling, authoritative, detailed report on a particular subject that represents today's financial problems and their solutions. It is intended to inform and persuade people based solely on facts and evidence, and not to tell the world why people need to buy our products now.Ā
Our white paper contains technical, financial, and commercial information about the project and is well documented. Usually our goal is to provide a document that explains in simple terms what we are doing to assure the investors and other stakeholders.
Difference between others and us - Some companies don't have white papers, but they do black papers, video explanations and presentations. If you are considering investing in a cryptocurrency that has an ICO (Initial Coin Offering) orĀ other crypto projects, please read the white paper first.Ā
In particular, information about our solutions toĀ specific problems, token allocation, teams behind cryptocurrencies, and roadmaps are important factors in assessing cryptocurrencies.Ā
