S4B Crypto Contest - Season 17

Assalam O Alaikum

Hello dear friends! Welcome to my post. How are you all? I hope you will be doing well by the grace of Almighty. I'm also fine and enjoying my day. Today I'm here to participate in this amazing contest which is organized by @waqarahmadshah in this Steem4bloggers community. The topic of this contest is "S4B Crypto Contest - Season 17". So let's start without any delay of time.

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What is cryptocurrency white paper?

Just imagine, you have wrote a book and now you are going to publish it in the market. So on the first page of that book you will write the table of contents, information about author, his team and the purpose of that book. In this regard, if we talk about the cryptocurrency white paper we can say that it is quite similar with that scenario. This is because whenever a new cryptocurrency launch in the market, they release their white paper which provides us the complete information about that project.

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_Freepik

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That white paper holds the information about the technical, financial and strategic aspects of the project. Also it tells about the key aspects about that technology which is used behind that project including the consensus mechanisms, decentralization and about the blockchain technology as well. In addition, it also provides us information about security, transparency and reliability aspects about that project.

So in results, we can say that the white paper can play a vital role in fetching the attention of investors about that project because it provides all kind of information including the tokenomics, distribution and other incentives for investors. More ever it also tells about the developers, team, implementation plans and the future plans about the project.

How long should an ideal cryptocurrency whitepaper be?

Actually, the length of crypto currency white paper is all depends on the content which the developers and the owners of project want to share with the people. It can increase or decrease the length of white paper. But in most of the cases the expertises say that the ideal length of white paper should be 25-30 pages which contains all the important and comprehensive information about the project.

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_Freepik

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Within that length, the white paper must include all the useful information about the project such as information about the developers, tokenomics, mission of project, privacy algorithms, market analysis, implementation plans and the technology on which it is working such as blockchain and decentralization. That length with the addition of all these things make a white paper ideal.

Should a whitepaper include information about the team behind the project?

Yes according to me, a white paper should include the information about the team behind that project with the roles of each team members. That thing help in building trust among the people because we are surrounded with different types of crypto currencies already and also some scammers are present in the market. So when a project provide a thorough overview to the investors through their white paper then their project will definitely stand among the existing crypto currencies.

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Also the information about the team behind the project can take it on moon. For example you find a newly developed crypto network and then after reading it's white paper you come to know that the Elon Musk is supporting that project. So after seeing the name of Elon Musk among the team members of the project you will definitely trust that project blindly. In results we can say that the information about team members is very in their white paper.

So friends that was my entry about that topic and I hope you will enjoy reading it. Now it is a time to say goodbye to everyone and I want to invite my friends @entity01, @simonnwigwe and @nooruleman to take a part in this amazing contest.

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Written by @abdullahw2

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Thanks All ❤️

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