Blockchain MVP Development
Blockchain Minimum Viable Product (MVP) development is the process of developing the leanest version of a blockchain application with minimum functionality. Typically an MVP follows the process of blockchain proof of concept (PoC) development.
What is MVP Development
Unlike a PoC which cannot be rolled out, an MVP is a working prototype. Its purpose is to practically demonstrate how a proposed solution addresses a particular problem and whether it has any merit. If the MVP finds confirmation and approval, it can easily be scaled.
The MVP is used to gauge users’ interest in the product and to attract feedback. It seeks to find a problem/solution and product/market fit prior to the development of a full-fledged product. This can only occur by entering the market and letting users test the product. The MVP has to be stable and functional enough to convincingly and realistically showcase its value to users.
Developing an MVP is particularly useful for startups that seek to conduct early tests of their idea without investing a lot of resources or time. MVPs are also used by big business and public bodies when developing new services or solutions.
Areas in which blockchain MVP development is commonly used include
- Supply chain
- Identity management
- Asset management
- Medical records management
- Payment solutions, and more
Do you need to develop an MVP for your blockchain solution? Here’s how your business can benefit from it!
Benefits of Blockchain MVP Development for Your Business
Developing an MVP is the best way to practically test your blockchain solution with users. It can help you to validate the value proposition of the solution and to determine its strengths and weaknesses. Some of the benefits of developing a blockchain MVP include:
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The Blockchain MVP Development Process
MVP development typically goes through several stages. These are necessary to ensure that the solution is adequately defined, developed, and deployed, and meets all client requirements. When developing an MVP, LimeChain uses the following protocols, frameworks, and programming languages.
The process of developing an MVP typically follows the steps listed below:
1. System and value proposition analysis
As a first step, we conduct an analysis of the client’s value proposition. We analyze the existing system and determine whether it’s suitable for the development of the MVP. This also involves the analysis of any PoC that has been developed previously.
2. Minimal scope outline
After an initial analysis has been conducted, together with the client we outline the minimal scope of the project that would fulfill the value proposition. This is when the MVP begins to take shape, and its most basic functionalities are defined and fleshed out.
During this step, we also identify the frontend to be used for the application, create wireframes, layouts, and more.
3. MVP development
4. Results analysis and iteration
After the MVP has been developed, it is tested extensively on a testing network. A report is created and reviewed with the client. Based on the results of the tests and the client’s feedback, additional iterations are made to the MVP.
5. Product scaling
Blockchain MVP Development by LimeChain
Over the years, we have gathered the experience and expertise to be able to develop end-to-end MVP solutions for our clients, with the right tools, in a very short amount of time.
Our agile approach to MVP development allows us to iterate quickly, and adapt to new requirements and feedback.
Are you considering the development of an MVP for your blockchain project? Get in touch with us to discuss your idea and to see how we can help you!