Prototyping with wireframes
Wireframes usually precede the prototyping stage and present a general idea of a future product, working as a skeleton for building up more relevant content. Wireframes use simple blocks and contain minimum interactivity — just enough to test ideas without diverting users' attention to colors and typography.
On the contrary, prototypes are more high-fidelity and reminiscent of a nearly finished product. Hence, they allow you to conduct more effective user testing with interactions and functionality.
The best approach is an iterative process, where each iteration includes a new level of fidelity. Start with low-cost wireframes, test assumptions, refine, and improve. Since it's more costly to make changes to prototypes, approach them only once you've already tested your ideas a couple of times.
