VICTORIA, Seychelles, Nov. 03, 2024 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, has launched a campaign to celebrate the 16th Bitcoin White Paper Day with the colorful theme “Who reads white papers anymore?“ started. This initiative aims to spark conversations within the crypto community about the current role of white papers in blockchain projects and investment decisions. Organized around the release of Satoshi Nakamoto’s founding document, the event will provide an opportunity to rethink the perception of white papers and whether they are still as influential as they once were when it comes to investment strategies and project evaluations.
The survey data collected by Bitget provides insight into the crypto community’s current views on white papers. Of the 5,923 participants surveyed, an overwhelming 92.28% said they always read a project’s white paper before trading the token, showing that technical documentation remains crucial for most users. In addition, 99.43% of respondents still believe white papers are necessary, emphasizing that they remain important in establishing the credibility of a project and explaining its core principles.
However, the survey also found that key opinion leaders (KOLs) play a dominant role in influencing trading decisions. Of the participants who do not always read white papers, 86.51% rely on recommendations from professionals, while only a small percentage rely on research institutions or personal networks. This highlights a growing trend in which influencer-provided insights are beginning to compete with white paper-based reviews, reflecting a general shift in the way information is consumed and trusted in the crypto space.
Over the years, white papers have been viewed as important documents for understanding the technical and strategic intent of blockchain projects. However, given the rapid developments in the crypto space, there is increasing debate about whether these documents are still an important tool for investors or whether alternative valuation methods take precedence.
Bitget’s research, based on surveys and consultations with industry insiders, shows a wide range of opinions. Some participants still believe white papers are essential to understanding the fundamentals and long-term goals of a project. Others argue that the emergence of new evaluation metrics such as market trends, project performance and development teams has reduced the reliance on white papers and brought real-world applications and use cases into focus.
The insights from these discussions suggest a shift in the way the crypto community approaches project evaluation. By creating a platform for this discourse, Bitget encourages users and professionals alike to rethink the tools and resources used today to evaluate blockchain projects. Under the theme “Bitcoin Whitepaper Day,” this campaign highlights the ongoing changes in the industry and invites the community to look into the future and consider new approaches to evaluating the industry’s most promising innovations.
To learn more about Bitcoin Whitepaper Day, read our tweet here.
About Bitget
Founded in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. With over 45 million users in more than 150 countries and regions, Bitget exchange is committed to helping users trade smarter with its groundbreaking copy trading feature and other trading solutions, while providing real-time access to Bitcoin Price, Ethereum price and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a premium multichain crypto wallet that offers a range of comprehensive Web3 solutions and features, including wallet functionality, token swap, NFT marketplace, DApp browser and more.
Bitget is at the forefront of driving cryptocurrency adoption through strategic partnerships, such as being the official crypto partner of the world’s top soccer league LALIGA for the EAST, SEA and LATAM markets, as well as as a global partner of the Turkish national athletes Buse Tosun Çavuşoğlu (world champion in wrestling), Samet Gumus (gold medalist in boxing) and Primary Aydin (National Volleyball Team) to inspire the global community to become part of the future of cryptocurrency.
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