What Is a White Paper? Whitepapers explain the purpose and technology behind a project. They usually provide statistics, diagrams and facts to convince interested investors to purchase the cryptocurrency. Producing a whitepaper is key a step required for a crypto startup to be considered legitimate and professional, as it helps investors understand how a business is different from rivals in the space. Whitepapers differ from litepapers, which tend to be shorter, less technical and easier to understand. A white paper is created by the founders and/or developers of a crypto to help sell the crypto. But instead of pushing emotional buttons, they provide facts, diagrams, statistics, and quotes. White papers are written by technically focused individuals for technically interested buyers.