The term “whitepaper” is crucial, and you must have heard it often if you have tried to understand the world of Bitcoin. It is not a term exclusive to Bitcoin. It is also connected to other cryptocurrencies as well as other businesses and institutions in the world.
Winston Churchill has first used the term whitepaper. It was merely a document printed on a white paper to develop participatory democracy. In the 1990s, the term whitepaper was increasingly used by businesses to present a particular business plan.
Bitcoin’s whitepapers were written to find a solution to a specific problem. The whitepaper indicates how money can be sent and received without the intervention of a third party. At this time, this was considered impossible.
Bitcoin’s whitepaper is entitled: “Bitcoin: a peer-to-peer electronic money system” and is written under the pseudonym of Satoshi Nakamoto.
Bitcoin’s white paper is constructed as a scientific paper with twelve parts. It begins with an introduction explaining the purpose of Bitcoin, and each part then plunges us deeper into the world of Bitcoin.
The ethereum whitepapers went even further. It put even more emphasis on the blockchain technique, presenting it as a value in itself of the platform.
In the cryptocurrency whitepapers, this informational purpose gradually changed. It took more and more in the form of a marketing document. Technical explanations about the cryptocurrencies were increasingly relegated to the background, and other information, such as the project plan and the developers behind the project, became more and more prominent. We advise you always to read the whitepaper if you want to invest in a particular cryptocurrency.