How to Write a Cryptocurrency White Paper

In this video, Crypto Mentor99 outlines how a white paper should be written. A white paper is a document that describes your initial coin offering (ICO) project. You can also consider it a business model or business plan.

The creator of Bitcoin, Satoshi Nakamoto, published his whitepaper describing bitcoin in 2008. The name of Nakamoto’s whitepaper was “Bitcoin: A Peer-to-Peer Electronic Cash System.” The whitepaper by Nakamoto is a perfect example of a whitepaper behind a legitimate coin.

Nakamoto’s document starts with an abstract that quickly describes bitcoin and the technology behind it. In the introduction, Nakamoto talks about e-commerce and the Internet in general. He then describes how transactions would work on the bitcoin network, discusses problems and technology behind the network, including proof of work, time stamps, and privacy.

All white papers must be in PDF format. PDF formats are insecure, can crash your browser, and are frustrating to create and maintain. For all these reasons, a PDF format can be considered a barrier to entry because it proves a competence on the internet and your commitment to your project.

When it comes to the length of a white paper, it really depends on the complexity of your project. White papers range from 8 pages to 100 pages. Generally, you should keep it as simple as feasibly possible without oversimplifying the project or cutting out any important details.

A white paper should be easy to read, like an academic research paper, and rigorously vetted, like an early 2000’s startup business plan.

Below are some tips that Crypto Mentor99 gives:

  • Cover the history of the blockchain, especially the current pitfalls and your solution to improve them.
  • If you’re involved in another industry, cover the history of that other industry.
  • Shift from history to near future.
  • Include every section of your website into the white paper.
  • You can include your own words or terms, just make sure to define them.
  • Mention all the team member, advisers, and partners. The more you have, the more credible you will seem.
  • Make sure your article is well edited and properly structured.