Why is crypto so complicated?
For about a month, I have been taking courses in python programming. It's a slow process but I want to learn to code so that I can later interact with the blockchain. I believe that coding can be quite complex and it's definitely hard to grasp everything. However, when I look at some recent crypto projects, I tend to believe that when it comes to complexity coding is actually easy compared to some projects out there...
Why the heck is everything so complicated
In the last weeks and days, I have tried to read and understand several Defi concepts and each time I had to give up in frustration. I simply didn't get it. After the third trial in understanding the whitepapers, I just couldn't take it anymore. Am I that stupid not to get it? Or is it simply too complex to understand?
Never invest in something that you don't understand
One of my mantras when it comes to put money somewhere is that I need to understand how things work. I want to know where the money comes from. Where the profits come from and how the project makes these profits. Without knowing this, my golden rule is not to invest. I'm probably not the only person who works like that.
To get people into a project, it needs to be simple and understandable
From running my own projects, I realize how difficult it is to keep things simple and easy to understand. The more people understand a project, the more potential investors we might get. So there is a financial advantage in making things clear and easy.
Ways to break down ideas in an easy way
I brainstormed a little bit and I will try to list things that could help to reach this goal.
Information vs. Whitepaper
Most whitepapers are what they are called: a lot of white paper with a lot of text. I think it's important that all the information is regrouped somewhere and the whitepaper is perfect for that. However, whitepapers are often information overload (that's what I witnessed recently). I believe there should always be another document that is colorful and interesting to read where a person gets only the information that is really relevant to her. I would consider it as a kind of sales brochure.
Playing with visual helpers
For me personally, I love when things are pleasing to the eye. Meeting a wall of text is never a good thing. I like when things are presented with graphs, pictures and diagrams or even in videos. This helps to understand things a lot, especially for visual people.
Get outside feed-back
Another approach is to present your project to people who don't know anything about it and get their feed-back. When we build something complex, it is probably very clear in our own head but not really for the person who reads our whitepaper. Feed-back from people that are not involved allow to point out questions that might arise. Maybe these questions seem trivial for us but they are probably not for most others.
Explain only what needs to be explained
A big problem that I personally often struggle with is to limit the information to the strict minimum. The more information, the more confusion can be. Therefore, a lot can be obtained by keeping the explanations to a minimum, especially in what I called above a sales brochure. What is important for the person who wants to invest? What does he/she need to know?
I believe that most people on platforms like hive are rather better fitted to understand complex tokenomics. However, when even we don't get most of it, there is absolutely no chance that a „normal mainstream“ person gets it. I believe it would be good for Hive and crypto in general to invest more time on breaking concepts down and make them easy to understand.
What about you? How do you deal with all those whitepapers?
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