What is Whitelist?

Whitelist has multiple meanings in a blockchain context. First, it may refer to a list compiled by a blockchain start-up to assess the legitimacy of potential investors — using identity verification and intended investment amounts — that want to participate in an upcoming funding round. Second, it may refer to when cryptocurrency exchanges or wallets ask a user to verify the authenticity of a withdrawal address by "whitelisting" the address. This is done to prevent the user from becoming a victim of fraudulent withdrawals from their wallet or exchange account by malicious actors.