The Product Development Lifecycle defines the sequential stages a product progresses through, from its initial conceptualization and design to its deployment, ongoing maintenance, and eventual obsolescence or retirement. It provides a structured path for innovation.
Mechanism
This cycle typically includes distinct phases such as ideation, comprehensive market research, detailed design, iterative development, rigorous testing, formal launch, and continuous post-launch support and enhancement. Each stage involves specific activities, resource allocation, and validation points to ensure the product meets market demands and technical specifications.
Methodology
In the crypto domain, this lifecycle is applied to the creation of new protocols, decentralized applications, or institutional trading platforms. A structured approach ensures systematic progression, addressing critical aspects like security audits, smart contract deployment, and user adoption strategies. This framework guides teams in delivering robust, scalable, and market-appropriate digital asset solutions while managing technical and operational risks.
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