Thread by @enijoshua_

Everyday, new #crypto projects are coming up and you'll always hear the word "WHITE PAPER"

What does it really mean?

Completely understand in these 5 simple steps

Every company exists to solve a problem. The document that states their purpose of existence is called a business plan right?

That's what a white paper is for #crypto projects. It's a document that explains what a project does, and how it will achieve its aim [roadmap]

A white paper majorly consist of 3 things...

• A problem
• A solution and
• The author

Definitely, the solution takes the major part but...

note that the problem and the solution in a white paper are #crypto related👍

It doesn't stop there, there's more...

In a white paper, statistics, diagrams and facts are used to convince interested investors to buy the #cryptocurrency and also to educate the general audience.

Quick tip: a LITE PAPER is a shortened version or summary of a white paper

For example:

• #bitcoin white paper, published in 2008 shows how you can use #bitcoin as a better form of money I.e you wouldn't need banks to transfer money, and that's what #bitcoin is today.

• #Etherium white paper states how developers can build DApps on their blockchain.

[DApps means Decentralized Applications]

In summary, a white paper is the business plan for a #crypto project

Follow @Enijoshua_ for more simple but professional threads

Quickly read this CRAZY thread about stable coins and fiat currencies before you go...

[Important] Also follow

@wittyprince_

@SamuelXeus

@_paulapaul and

@sabocrypto

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