I should have wrote a post yesterday about this but I started to deep dive into this topic and realized how much more goes into a white paper (WP). I went on @steemit to look for some other members to see if they wrote or talked about white paper and @heiditravels has a lot of information on what is a white paper. The second person I want to mention is @gustassavage21, but hes talking about gifto which I also own some of their coins too. I rather not be biased towards any crypto assets right now since my post is about the basics of a white paper.
Also, if you haven't read the steemit white paper and your own this site...maybe you should read it before you start posting and commenting on anyone else page. Here's the white paper : https://steem.io/SteemWhitePaper.pdf.
I'll be breaking down the steemit white paper for you guys.
Title page, with a blurb about what steemit is. Generally when one reads a white paper we see the title and a blurb at the beginning so we know right away, should we invest? What is this crypto asset? These are the basics that we should know before reading a WP.
Then we get into the Table of contents. This is where I do most of my reading and time. Its the outline for the entire WP and why wouldn't you want to read the outline? Its like the cheat sheet to the WP. If you don't have the time to read this entire WP you should read the Table of Contents.
Introduction: What is Steemit? Thats seems to me like a no brainer. Don't know anything about steemit? Read the introduction, this is usually the case with most WP. If you don't understand what the product is then maybe you shouldn't invest. Ask a friend a family member, you can even ask me.
Ways to Contribute: So for Steemit this section is particular for this case. Not ALL WP will have this, because Steemit is a public content platform. So its description is how can I post, blog and so on.
Consensus Algorithm: Now this gets to be more and more interesting. You have WP that look like a science thesis paper with all the algorithms and what not. If you can read those types of WP then more power to you. Its just a lot of BIG words imo but to the techy investor maybe thats what they want to read. This WP is just about how the cryptography works.
Eliminating Transaction Fees: Who wants to pay a transaction fee? I'm pretty sure in this day and age no one wants to pay a fee for any reason. At the same time, this is actually your revenue stream. Steemit is telling their investors that they don't take a cut from the average joe and that might scare off the institutional money.
Performance and Scalability: This is the growth of the company, how long is it going to grow when do i expect it to hit the mass markets.
Initial Allocation & Supply Current Allocation & Supply: I wanted to lump these two together because I feel like most people don't understand why theres a billion coins out there. The initial amount of coins is similar to a stock share. Lets look at Tesla stock for a second. (Yes Tesla, im a huge Elon Musk fan, also sold all my Tesla stocks to rebuy at the dip)
https://www.investopedia.com/news/tesla-ipo-7-years/
So the initial allocation started with 13,300,000 shares. For stocks there usually is no max supply but the more shares you offer the more the price goes down. Same with crypto assets, we see a initial amount of coins and a supply cap. The less you have of something the more valuable it gets, simply supply and chain model.
Shares outstanding is the same as Current Allocation and supply.
The Power of Steem: What does all this mean? What can I do with Steem, what are the possibilities with Steem.
Conclusion As in any good book, article, blog, WP there has to be an end. This is the summary of what you all read and if you actually finished the whole WP, give yourself a pat on the back. Most people don't have the patience to read all of it and tend to skip out and go google or youtube it. I would suggest not to skip any part of a WP if you truly want to invest.
I would like to finish off with a few comments with this post - Its interesting to me that there is no Team section in this WP and would like @steemit to provide something not just for me but for everyone on this block chain.
Comment down below if you think that I made a mistake anywhere, Im still learning and willing to learn more!
Thanks until next time Hsi (She) gotcrypto signing out!
credits:
https://steemit.com/cryptocurrency/@heiditravels/learning-crypto-understanding-white-papers
https://steemit.com/life/@gustassavage21/how-to-read-an-ico-whitepaper
还真没读过，确实应该读一读
恩恩对的，白皮书一定要读的。
mark～
One thing that has come up in my groups recently has been the notion of just how many, or how few, cryptoasset investors read the whitepapers associated with their investments.
A Noted Stacker of ETH stated in just such a forum that he believed that 90% of cryptoasset investors failed to perform this most basic aspect of crypto due diligence. I'm not sure I believe that the number is all THAT high, but I'd be willing to bet that 2/3 of the people with coinz don't read the WP.
Where do you think this number lies?
I wouldn't be surprised if that number was closer to 1/4 people. They would blindly invest because some friend or some family member said "THIS IS GOOD, GET IT!" What ends up happening...they get scammed they don't make their 4x, nothing. I try to tell people to do their DD before investing into anything. No one cares or hears me, and those that do? Well a simple thank you would be sufficient.