S4B Crypto Contest - Season 17

What is a cryptocurrency whitepaper?

A cryptocurrency whitepaper is a theoretical plan that gives information on the technology, function, and prospects of a new cryptocurrency venture. This often covers details of the problem being addressed by the project, the technology employed and the algorithms used, the tokenomics structure, the team behind the project, the timeline for the project’s development and other related information. A white paper is useful for investors and fans to receive information about the idea, objectives, and technologies required for creating the project before starting to invest in it.

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They act as a guide for the execution of the project and offer visibility to the people. Examining a whitepaper of a cryptocurrency is one of the decisive factors in determining the authenticity or otherwise of a project and its realistic possibilities, based on the existing and potential applications, as well as the sustainability of the cryptocurrency to be created.

How long should an ideal cryptocurrency whitepaper be?

An average cryptocurrency whitepaper should have between five and twenty or even thirty pages in the best concerning scenario. But again the length in not crucial as is the case with the clear and precise information that is given. It is better to have a short and clear whitepaper that explains in a proper way the project’s idea, the used technology, token distribution, milestones, and the team rather than having a big piece of text enriched with additional not very helpful information. Finally, the whitepaper must consist of a brief description of the cryptocurrency project but at the same time the reader should not get bored.

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

Yes, it is relevant that a whitepaper should contain some details about the performers of the work. Here it is possible to specify about the profile of the members to be included in the team, their experience, skill, and qualifications, which in turn could build the credibility of the work done of the project. The shareholders and other partners need to identify with the project and that is why they require a person with more visibility. It is also good to include information about the team in this case so that the potential investors can evaluate the team in relation to the successful completion of the project.

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Furthermore, it is recommended to exemplify successes performed by the key members of the team; it will help to demonstrate their background knowledge about the relevant industry, which can be useful to attract attention as well as support. Thus, should the team include this in a whitepaper, there is an overwhelming potential for people to gain confidence and potentially become supporters in the future.

Thanks for reading my post I'm inviting @eluustanley , @dove11 and @mesola to participate in this contest.

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@waqarahmadshah