Blockchain Interview Questions & Answers

Blockchain Interview Questions & Answers

Q 1. What do you understand by Blockchain?

Ans:

The blockchain is a redistributed distributed database of immutable records. The technology was discovered with the invention of Bitcoins (the 1st cryptocurrency). It’s a trusty approach and there are heaps of firms within the present situation that are using it. As everything is secure, and since it’s Associate in nursing open supply approach, it will simply be sure in the long run.

Q 2. What is the principle of Blockchain Technology?

Ans:

It allows the information to be distributed among the users while not being traced.

Q 3. What are the various types of Blockchains?

Ans:

Blockchains are of 3 types:

Public
Private
Consortium

Q 4. Why is Blockchain a trustworthy approach?

Ans:

Blockchain can be trustworthy thanks to such a large amount of reasons.

Its compatibility with different business applications thanks to its open-source nature.

Blockchain security. Because it was meant for online transactions, the developers have paid special attention to maintaining the pace once it involves its security. It extremely doesn’t matter what style of business one owns, Blockchain will simply be thought of.

Q 5. Name the 2 kinds of records that are present within the Blockchain Database?

Ans:

These records are block records and transactional records. Each these records will simply be accessed, and also the neatest thing is, it’s doable to integrate them with one another while not following the complicated algorithms.

Q 6. What do you mean by blocks within the Blockchain Technology?

Ans:

Blockchain consists of a list of records. Such records are kept in blocks. These blocks are successively linked with different blocks and therefore represent a sequence known as Blockchain.

Q 7. How is a block recognized within the Blockchain approach?

Ans:

Every block during this online ledger essentially consists of a hash pointer that acts as a link to the block that is before it, transaction knowledge and in fact a stamp of time.

Q 8. Is it possible to switch the data once it’s written in an exceeding block?

Ans:

No, it’s impossible to do so. Just in case any modification is needed, the organization merely has to erase the knowledge from all different blocks too. Because of as a result of no different reason than this, knowledge must be given the acute care of while mistreatment this approach.

Q 9. What exactly does one comprehend the security of a block?

Ans:

Well, a block or the complete blockchain is protected by a powerful cryptographic hash algorithm. Every block includes a distinctive hash pointer. Any modification within the block constituents will lead to the modification within the hash identifier of the block. Therefore, it offers a wonderful level of security. Thus, one needs to not worry regarding the protection additionally because of the security of knowing that’s gift in an exceedingly block.

Q 10. What are Merkle trees? How vital are Merkle trees in Blockchains?

Ans:

Merkle Tree additionally called ‘hash tree’ is a data structure in cryptography during which every leaf node could be a hash of a block of knowledge, and every non-leaf node could be a hash of its kid nodes.

If somebody has to verify the existence of selected dealing in an exceedingly block, then he doesn’t need to transfer the complete block. Downloading a collection of a branch of this tree that contains these dealings is enough. We have a tendency to check the hashes we are simply rising the branch (relevant to my transaction). If these hashes consider sensible, then we all know that these specific dealings exist during this block.

Blockchain Interview Questions for Freshers – Q. 1,2,3,4,5,6,9

Blockchain Interview Questions for Experienced – Q. 7,8,10

Q 11. Name the common sort of ledgers which will be thought of by users in Blockchain?

Ans:

These are:

Centralized Distribution
Decentralized distribution
Distributed network
Follow the link to know more about Ledger

Q12. How is a blockchain ledger different from a standard one?

Ans:

The first and of course the prime distinction is Blockchain is a digital ledger which will be decentralized terribly simply. The probabilities of error during this approach are way under that in a standard ledger. An ordinary ledger is what that’s ready by hands or by human efforts whereas the Blockchain performs all its tasks mechanically. You simply have to be compelled to assemble it in an exceedingly correct manner and by following all the rules.

Q 13. What type of records is kept in a Blockchain? Is there any restriction on same?

Ans:

There is no restriction on keeping records of any sort within the Blockchain approach. Industries are using Blockchain for securing all kinds of records.

The common kinds of records (to name a few) which will be unbroken on the Blockchains are:

Records of medical transactions
Identity management
Transaction process
Business transactions,
Management activities
Documentation

Q 14. Can you explain the elements of Blockchain Ecosystem?

Ans:

There square measure four completely different part of Blockchain system

Shared Ledger
Virtual Machine
Node application
Consensus Algorithm

Q 15. State difference between proof of stake and proof of work.
Ans:

Proof of Work

The possibility of Mining a Block depends upon the amount of work a miner does
Takes more energy than proof of stake
Proof of Stake

Stakeholder Validate new block by but utilizing their share of coin on the network

The first example of proof of stake is Peercoin

Q 16. Name some widespread platforms for developing blockchain applications.

Ans:

After the event of bitcoin, numerous blockchain platforms started arising. Ethereum came right once the evolution of Bitcoins, and is one in all the favored public platforms for building. Blockchain primarily based applications.

Then there’s a Hyperledger community for building enterprise-based solutions. Also, Qtum, IOTA, EOS are a number of the widely used platforms for building Blockchain.
Blockchain Decentralized Applications (DAPPS): Ethereum

Q 17. What are the advantages of Blockchain that you simply know?

Ans:

There are plenty of benefits for Blockchain:

Settlement in real time
Cost saving
Immutability
Security
User Pseudonymity

Q 18. Each and every block of Blockchain consist of what elements?
Ans:

Each and every block include three major parts

A hash pointer to the previous block
Timestamp
List of transactions

Q 19. Which one Bitcoin or Ethereum was the first distributed blockchain implementation?

Ans:

The answer is Bitcoin as it was found on 8th August 2008

Let’s revise Bitcoin vs Cryptocurrency

Q 20. What are the forms in which Blockchain can be stored?

Ans:

The blockchain is a distributed ledger which can be stored in 2 Forms

A flat file

A Database

Blockchain Interview Questions for Freshers – Q. 11,12,13,14,16,17,18,19,20

Blockchain Interview Questions for Experienced – Q. 15

Q 21. In Blockchain, blocks are linked in what series?

Ans:

In Blockchain Blocks are arranges within the Backward to the previous block series.

Q 22. What is the primary benefit of immutability?

Ans:

There are plenty of benefits of immutability but the foremost basic benefit is increased efficiency.

Q 23. Is it true that a block in the blockchain can never have more than one parent block?
Ans:

Yes, it’s true that Blockchain can never have a parent Block. Each and each block is independent in Blockchain

Q 24. State an example of asymmetric encryption Algorithm?

Ans:

The example of asymmetric is RSA

Q 25. What are some of the widely used cryptographic algorithms?

Some of the most usually used algorithms are

RSA
Triple DES
Blowfish
Twofish
AES

Q 26. What are the various approaches employed in attacking the RSA algorithm?

Ans:

There square measure totally different approaches employed in assaultive the RSA algorithm:

Brute force: It involves all potential secret keys

Mathematical attacks: In mathematical attack, we tend to square measure mistreatment totally different techniques, that is analogous in the effort to issue the merchandise of 2 primes

Q 27. Explain the importance of blind signature and the way it’s useful?

Ans:

It is a type of digital signature within which the content of a message is disguised (blinded) before it’s signed. The ensuing blind signature may be publically verified against the first, unblinded message within the manner of a daily digital signature.
Blind signatures are generally used in privacy-related protocols where the signer and message author are totally different parties. Examples include cryptographic election systems and digital money schemes.

Let’s revise Lisk Cryptocurrency

Q 28. What is Secret Sharing? Will it have any benefit in Blockchain technology?

Ans:

It is a widely known indisputable fact that security matters tons in digital transactions. Secret sharing is associate approach meant for same. In Blockchain technology it’s an associate approach that divides secret or personal data into totally different units and sent them to the users on the network.

The original data will solely be mixd once a participant to whom a share of the key is allotted conform to combine them at the side of others. Their square measure many security-related edges it offers in Blockchain technology.

Q 29. Can you make a case for what square measure off-chain transactions?

Ans:

Off-chain dealing is that the movement of value outside of the blockchain. while associate on-chain dealings – usually observed as merely ‘a transaction’ – modifies the blockchain associated depends on the blockchain to see its validity an off-chain transaction depends on alternative ways to record and validate the transaction.

Q 30. What precisely does one know about executive accounting? Does Blockchain support the same?

Ans:

Executive accounting is nothing, however, a special form of accounting that is intended solely for a business that provides services to the individuals. There’s no strict higher limit on services and a business will manage any through the management accounting. Blockchain has algorithms that are specially meant to handle government accounting. In fact, it cut down several issues that are related to the same.

For more   Click Here

For Course Content   Click Here

Top ↑