Blockchain PoC Development
Blockchain PoC is particularly useful in two cases. It is a great way for enterprises and public bodies to experiment with the technology and determine its practicality before implementing it into real-world conditions. It is also useful for companies, such as startups, that want to showcase their blockchain project to investors and potential users.
What is PoC Development?
Blockchain Proof of Concept (PoC) development is the process of determining whether a blockchain project has potential and practical application. A PoC is typically a simple prototype, that is intended to assess the feasibility of a proposed solution. If the PoC is validated, the project may advance to the stage of minimum viable product (MVP) development.
Areas in which blockchain PoC development is commonly used include:
– Supply chain
– Identity management
– Asset management
– Medical records management
– Payment solutions, and more
Developing a proof of concept typically involves several stages during which the project is fleshed out and possible weaknesses are identified. This lays the groundwork for a successful blockchain project later on.
Are you considering the development of a blockchain PoC? Here’s how your company could benefit from it!
Benefits of Blockchain PoC Development for Your Business
Creating a PoC is the best way to practically demonstrate a certain blockchain project idea internally or to investors. Some of the benefits of developing a PoC include:
The Blockchain PoC Development Process
Developing a PoC goes through several stages to ensure that the business requirements have been understood and met. To develop a PoC, LimeChain uses the following protocols, frameworks, and programming languages.
The blockchain PoC development process usually goes through the following stages:
Business value definition
The first step of the PoC development involves determining the business value that the client wants to prove. During this process, we work together with the client to test the initial theoretical and practical implications of the project in order to flesh it out.
Once the business value of the project has been defined, the scope of the blockchain PoC is outlined. Here the PoC begins to take shape – the execution of the project is determined and agreed upon with the stakeholders. This stage also involves the identification of the most appropriate blockchain consensus mechanism for the project.
Technical architecture design
At this stage, the basic technical architecture of the PoC is laid down. For the purpose of the architecture design, the best technology solution and platform must also be determined. This includes the choice between permission and permissionless blockchains, as well as private, public, and hybrid types.
Once the architecture and solution have been determined, the PoC itself can be developed. Depending on the complexity of the PoC, this stage can involve a multitude of sub-steps. For example, at this stage APIs may need to be built, admin and user interfaces need to be designed, etc.
PoC showcase and analysis
After the development stage, the PoC is showcased in front of the client and analyzed. This stage demonstrates the feasibility and practicality of the blockchain project idea. Depending on the outcome of the project, this may lead to the development of an MVP and, later on, toward a full-fledged blockchain application.
Blockchain PoC Development by LimeChain
LimeChain has been developing blockchain applications since 2017. We have built 100+ projects, the majority of which started out as PoCs.
Based on our experience, we can easily and quickly develop the right solutions and determine which tools to use for each project, and develop a PoC end-to-end. In addition, our business knowledge allows us to easily understand and successfully showcase the efficiency that our clients seek to achieve.
Thanks to our agile work processes, we can quickly iterate and implement changes to a PoC in order to reflect the business value and requirements more fully.