What Is a “Proof of Concept” (PoC) in the Context of a New Cryptocurrency or Blockchain Project and Why Is It Important?
A PoC demonstrates that a new crypto idea, such as a novel consensus mechanism or DeFi protocol, is technically feasible. It is a small, internal project to verify a concept's viability before full development.
Importance lies in validating core functionality, attracting early investment, and identifying potential technical roadblocks early on. It mitigates risk by showing the concept can actually work in practice.