Blockchain
Blockchain is now trending technology, which is mostly used in banking, finance, government....It is totally secure, immutable. Blockchain Cryptocurrency is also known as Digital Currency. It is mainly used in stock market.
Now, we will discuss Interview questions of Blockchain.
1. What is Blockchain?
Blockchain is a rising catalogue, which keep permanent record of all transactions of banks and individuals. It is a chain of various blocks, which having all the data. Blockchain is the base of Cryptocurrency as Electric Cash. It allows to exchange funds.
2. What are the types of record that present in the blockchain database?
There are two main type of blockchain database :-
1. Transactional records
2. Block records
3. Make a list of well known platforms for developing blockchain application.
Here are some popular platforms :-
1. Ripple
2. Qtum
3. Ethereum
4. Quorum
5. Hyperledger Sawtooth
6. EOS
4. What are the versions of blockchain?
Mainly, there are 3 kind of Blockchain version, which starting from 1.0 to ending with 3.0
▪︎ Blockchain 1.0 - Currency
▪︎ Blockchain 2.0 - Smart Contracts
▪︎ Blockchain 3.0 - DApps
5. What is the unique properties of HASH function?
There 2 main properties of HASH function :-
1. It is a one way function
2. It produce a unique output
6. What are the key areas of blockchain?
Basically, there are 3 main things, which become proper for Blockchain it is also called key areas :-
1. VALUE
2. RELIABILITY
3. TRUST
7. What type of Cryptocurrency is used in blockchain?
There are 5 types of cryptocurrency are available :-
1. Bitcoin
2. Z-Cash
3. Litecoin
4. Monero
5. Dash
8. Which cryptographic algorithm is used in Blockchain?
Blockchain uses SHA-256 Hashing algorithm. NSA develop SHA-256 Hashing algorithm.
9. What is Double spending?
Double spending means spending the same money multiple times. In digital cash, the double spending problem can arise. However, in bitcoin transactions, there is a possibility of being copied and rebroadcast.
Blockchain reject the double spending problem by innovating a confirmation mechanism from multiple parties.
10. What are the types of consensus algorithms?
Here are many kind of techniques available in algorithm :-
▪︎ Proof of Authority (PoA)
▪︎ Proof of Stake(PoS)
▪︎ Proof of Work(PoW)
▪︎ Proof of Elapsed Time(PoET)
▪︎ Byzantine Fault Tolerence
▪︎ Delegated Proof of Stake (DPoS)
11. Make a list of main features of Blockchain.
▪︎ Fast
▪︎ Low Transaction Fees
▪︎ Distributed ledger
▪︎ Fault Tolerant
▪︎ Minting
▪︎ Decentralized System
12. What elements does every block of blockchain contains?
These 3 things, they always contain :-
1. Timestamp
2. List of transactions
3. A Hash pointer to the previous block
13. What are the limitations of blockchain?
Below mentioned limitations of blockchain:-
1. Lack of technical talent
2. Security Flaw
3. Network size
4. Consensus Mechanism
5. Speed and cost of Transactions
14. How does bitcoin use blockchain?
Transaction is happen between bitcoin wallets in blockchain. It keeps secret piece of data, which is called private key. It is used to sign transaction and provide mathematical proof.
15. How can blocks be identified?
Blocks can be identified by their block height and block header hash.
➽ This is model questions and answers, but this is also important question will be asked in any crypto companies. So, be prepared for other complex questions.
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