difference between live projects and real time projects in it field
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Hope this helps you.
Explanation:
Live Project: Which you implement along with a team in real environment by using some technologies which are needed by the clients. It has the functionality.
Real time project: It may be a Prototype (Only Screen Shots -Which describes the project overall with out any implementation or functionality) or it may be a developed one, just using for familiarity purpose. Here neither directly or indirectly you are not involved in developing that. Just you are the user who is using that for familiarity.
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