Alpha Version

An alpha version is an early release of software that is still incomplete and unstable, tested by the developers or a small invited group before a broader beta release. Features may be missing, data may be wiped and bugs are expected. In crypto, projects often run alpha builds of wallets, exchanges or protocols on a testnet, where tokens have no value, before moving to mainnet. Some teams release alpha software that handles real money, which carries higher risk because the code has not yet had a full audit or wide use. The label is unrelated to alpha in investing, which measures returns above a benchmark. A product usually moves from alpha to beta and then to a general release, sometimes with a minimum viable product along the way.