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Why Proof of Concept is important for Blockchain Technology

Every projects need a proper plan and you need to document it when you are about to take a dive in any innovative technology. Likewise, Proof of Concept of a Blockchain-based-application or any other application is necessary to prove that how the potential product will do.<br>

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Why Proof of Concept is important for Blockchain Technology

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  1. visit :www.sphinx-solution.com Call :+91-020-26434646 WhyProofofConceptisimportantforBlockchainTechnology? Everyprojectsneedaproperplanand youneedtodocumentitwhenyouareabouttotakea dive in any innovative technology. Likewise, Proof of Concept of a Blockchain-based- applicationoranyotherapplication is necessarytoprovethathowthepotentialproductwill do. What is Proof ofConcept? According to techopedia, “Proof of Concept (PoC) is a demonstration, the purpose of which is toverifythatcertainconcepts ortheorieshavethepotentialforreal-worldapplication.PoCis, therefore,aprototypethatis designedtodeterminefeasibility,butdoesn’trepresent deliverables.” Curating a PoC can help the product owner to identify gaps that might obstacles thesuccess. It also offerstheopportunitytorequestinternalfeedbacktoreducetheunnecessaryrisk. As blockchain technology is fairly new to the world. Understanding its different aspects is necessarybefore anycompanyorstakeholdergetintoit.MostoftheFortune 500companies alreadystartedResearchandDevelopmentinblockchainproofofconceptafterexploringthe use cases for their own business operations and forusers.

  2. A Gartner survey revealed that 66% of CIOs and IT leaders believe blockchain technology developmentwill create business disruption and have established budgets toexperiment with thetechnology. Advantages of PoC in any projectdevelopment Itactsasatoolwhichshowsthefeasibilityoftheproject Recommendsavarietyoftestingtoolsandtechniquestodevelopprojectswithconsistency Save time andcost-effective A complete report on projectevaluation Reliable to supply the testcase design Helps to receive feedback from variousstakeholders How tostart? FocusonthemajorBusinessproblem:Agenuineblockchainprojectmustfocusonthereal business problem which one can be addressed andsolved. Startsmall:Restrictyourselffromdevelopingsomethingbig,startwithasmallprojectidea. Plan carefully: Don’t underestimate the challenges of developingblockchain products. Check everything and plancarefully. Involvedifferentdepartment:Involveyourtaxandlegalteamtomaintainthechanges the blockchain project mayrequire. Testtwice:For smartcontractswritetheunittestanddeploymultipletimestoatest network.Ifyoufindasmallerror,youneedtoredeploytheentirecontract. Blockchain product development needs extreme attention. The technology comes with great reliability and security to withhold some great process of the world. If you are looking to developoneforyour business,rememberyouneedanexperiencedteam.Forthatoneofthe top blockchain development companies can help youout. Ifyouarestilldoubtfulaboutitspotentialandhowtostart,feelfreetogetintouch.

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