A white paper on a crypto project acts like the backbone of the entire system where the technical details of the project are jotted down for the general public to understand in detail. The purpose, technical resources, and every other detail of the crypto project are mentioned in the white paper.
The whitepaper often contains the roadmap that has been followed by the project, explaining why the particular project is better and different from its competitors. The white paper contains the problem statement being solved, along with the solution presented by the project to the problem with every minute detail. The architecture of the project along with the user interface is also described in detail. Details around the team building it and how it plans to introduce the tokenization of the same are also covered in white papers.
With the help of whitepapers, the team developing the crypto project raises the interest of potential investors as well as users. The developers or founders generate the white paper of the project, which in turn helps them sell the associated crypto tokens. White papers also contain statistics, quotes, and diagrams explaining the project. A crypto asset can be considered legit and professional if it has a valid white paper providing details about the project.