The knowledge of blockchain technology has become one of the top specialities for which demand has grown over the years on all job portals. Blockchain technology has evolved from a niche interest into an explosive financial market. Glassdoor, which is a website for job search and company reviews, claimed that there is a 300 per cent increase in blockchain technology jobs.
So if you’re thinking of signing up for an online blockchain course or blockchain technology certification to become a certified Blockchain Developer, then now is the time. Equipping yourself with skills that are high in demand means more chances of being hired in the job market as well as a handsome salary.
However, a lot of you might be wondering how difficult or tough it would be to crack an interview for a Blockchain Developer. Hence, here are a few questions and pointers you should be thorough with before sitting down for any such meetings.
1. What is Blockchain Technology?
The Blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually anything that has a value attached to it.
2. What is the Main Principle of Blockchain Technology?
The main principle of blockchain technology is the distributed ledger characteristic. This way, each peer holds a copy of the complete ledger along with the changes making it incorruptible.
3. What are Blocks in Blockchain Technology?
Blocks are files where the data is permanently recorded. It’sIt’s more or less like the page of a ledger or record book with all the transactions mentioned in chronological order.
4. How Many Types of Blockchain are There? Explain.
a). Public – Public blockchains work in an open ecosystem where anyone can join and make transactions.
b). Private – A Private blockchain works in a closed ecosystem where permission is required to join it and make transactions. This means that no outsider can join or know the activities within the private Blockchain.
c). Consortium – Consortium blockchains are semi-decentralized in nature.
d). Hybrid – Hybrid blockchains are a combination of public and private blockchains. They combine the use of private permission-based systems as well as a public permission-less system.
5. How is a Block Recognized Within a blockchain?
The hash pointer present in every block acts as the link to the previous block because it carries transactional data and the time stamp. This way, the chronology cannot be interrupted, and any error can be easily spotted.
6. What are the different types of records present within a Blockchain database?
There are two different types of records, mainly block records and transactional records. Both of these can be integrated without applying any complicated algorithms.
7. Are alterations possible once data is written in a block?
No, there is simply no way possible to make any adjustments or modifications once something has been written in a block. There’s no way to undo it; instead, you have to delete it from all the blocks to remove any unwanted information.
8. In order to incorporate blockchain technology in an organization, are there any specific requirements?
As such, there are no specific requirements, but it’sits necessary that the network must be a peer-to-peer one as per protocol. It allows the new blocks to validate immediately without any third parties.
9. What is the Role of Encryption in Blockchain?
All data transferred in a blockchain is encrypted in a way that the receiver can only unlock it, only if it’s meant for them. This way, it enhances the privacy and security of this technology.
10. Why is Blockchain Considered More trustworthy?
Even with multiple technologies available, Blockchain is considered to be the most secure solution because it is decentralized. The immutability in data storage makes it very reliable.
11. What are the Essential Elements Of a Blockchain Ecosystem? Explain.
The blockchain ecosystem comprises of four essential elements:
a) A Shared Ledger – It is the logical component within a blockchain. It is decentralized in nature.
b) A Virtual Machine – A virtual machine undertakes all the tasks to be performed by the Blockchain.
c) A Node Application – A node application is a software that allows the computer to connect with the Blockchain.
d) A Consensus Algorithm – Through a consensus algorithm that sets the blockchain rules, every node can arrive at a conclusion.
12. Why is Blockchain Called Robust and Durable?
The reason why it’s called robust and durable is that all the information on blocks is identical across the whole network. Hence it cannot be controlled by a single entity; therefore, it eliminates a single point of failure.
13. Is there a Difference Between ”Proof of Stake” and ”Proof of Work”?
In ”Proof of Stake,” the individual that creates the next block is based on how much they have ”staked” which is based on the number of coins the person has for the particular Blockchain they are attempting to mine.
Whereas in ”Proof of Work”, the miners compete against each other to complete transactions on the network and get rewarded. In a network, users send each other digital tokens.
14. What are Some of The Popular Platforms Used For Developing Blockchain Applications?
Since blockchain technology gained popularity, a lot of platforms started entering the market. Ethereum, Hyperledger, Qtum, EOS, IOTA, etc. are widely used for building applications and solutions.
15. What Types of Records Does Blockchain Support?
Blockchain is used for securing all types of records. Depending on the kind of transactions, new solutions can efficiently be designed. Some of the common types of records are:
- Records of Medical Transactions
- Identity Management
- Transaction Processing
- Business Transactions
- All types of Documentation
- Other Management Activities
However, these are just a few sample questions. It is best to take up a blockchain training course to achieve better insights. The options of Bitcoin certification and Corda certification are also available online. Depending on your needs, you can research and sign up for the one that is most relevant for you.