If you have an important interview coming up and need to prepare for Corda, you have reached your destination. In the last decade, there has been a rise in jobs related to the most significant technological revolution-blockchain, which indirectly means technologies like Corda are in demand. It has shown a variety of uses across different fields. Corda is a blockchain platform that is talked about every time Blockchains platforms are discussed.
As a prerequisite for the interview, you must have a Corda certification. This would provide you with the knowledge of all the concepts of Corda along with its applications. In this article, we try to cover important subjective and analytical questions. A Certified Corda Expert has provided the solutions here.
Learning of the Blog
- The things you should know about Corda
- Frequently asked Questions
This blog would prepare blockchain enthusiasts and learners for interviews and viva examinations. Let’s get started!
The Things You Should Know About Corda
The first version of Corda was released in 2016 by R3, and since then, it is in high demand as it offers a blockchain implementation ecosystem to businesses. Corda is an open-source and supports smart contract technology. The main goal is to provide longevity and strict privacy. Java 8 JVK and Git are prerequisites for Corda, and transactions are done within peers using UTXO. Java and Kotlin are used to write contracts in Corda. The transactions in Corda are contractually valid, required parties sign it, and no double-spends involved. There are two types of consensus in Corda- Validity, and Uniqueness. The key features of Corda are:
- Open design
- Open development
Benefits of Corda are as follows:
- High scalability
- Enterprise integration
- Security and privacy
- Proven Performance
Frequently asked Questions
Here are some Corda developer certification exam questions that will help you ace the interview:
What is Corda?
Corda is a popular open-source Blockchain project. It is used to maintain an interoperable network. Businesses acquire it because of its ability to transact directly and maintain strict privacy.
What is R3 Corda?
R3 or R3 LLC is a 300 firm blockchain technology company that developed Corda’s first version in 2016. It forms applications called CorDapps that run on Corda. It has 1800+ commits right now and finds applications in healthcare to trade.
Differentiate Between Corda and Hyperledger.
Corda’s primary focus is on helping financial entities to arrange the workflow and transactions. It uses open-source DLT for running a variety of applications on a single network.
Is Corda Permissioned?
While most of the blockchains are permissionless and have anonymous participants, Corda is permissioned, and every participant is known.
Does Corda Have a Cryptocurrency?
Corda allows the sharing of data and CorDapps for commerce and finance. Although inspired by blockchain, it doesn’t have a cryptocurrency.
Is Corda a Blockchain?
Yes, Corda is a Blockchain platform.
What is the Network Map of Corda?
It is a collection of signed NodeInfo objects which are tamper-free. Corda uses a certificate to map these nodes and network verification easily.
Does R3 Cords Use XRP?
Corda Settler uses XRP. It provides the possibility to support cryptocurrency.
What is CorDapps?
Corda Distribution Applications or CorDapps run on the Corda platform, and they work in agreement with nodes to update the ledger.
What is the Format and Components of CorDapps?
Cordapp has a semi-fat JAR format. The components are Contracts, Flows, States, Serialization, and Services.
What is the Ledger?
Ledger is not a single central data store in Corda, but it works differently. To ensure the network is scalable and flexible, two communicating peers see the exact ledger version.
Compare Corda with Bitcoin
Both offer immutable states. These states are consumed and created by transactions. In Bitcoin, UTXO is utilized, and data is stored in a single transaction, whereas Corda is more generalized and supports arbitrary typed data.
Compare Corda with Public Blockchains
In Public blockchains, each peer has a role to play, and a large number of nodes participate. However, Corda is a distributed ledger technology that does not rely on every peer to carry out the transaction.
Compare Corda with Etherum
The difference lies in the implementation. In ethereum, contracts are an instance of the program and work similarly to the OOPs concept. Whereas, in Corda, smart contracts are treated as a set of functions.
In both, non-assembly programming languages are used to write smart contracts.
Compare Corda with Enterprise Blockchains
The main difference is in the approach of the two. Enterprise based solutions are excellent and best for independent networks that will not work with other distributed ledger technologies. Assets earned on one network can’t be used on another.
Explain the Working of Corda
Compared to traditional blockchain chains, Corda doesn’t verify transactions by connecting it with every other peer. That is why Corda is a distributed ledger technology because it is more of a graph than a peer block.
The data of transactions is shared mainly among the parties with third-party solutions. It opens up scalability problems.
What are Flows within Corda?
To automate the agreeing ledger update process, flows are used. So during communication, nodes go through the flow. Also, built-in flows are used to automate everyday tasks.
Describe Corda Roadmap
The latest version of Corda is Corda 4, and they are capturing community feedback and improving the open-source project and bringing updates live.
It is a network service with a few key responsibilities present to provide consensus and prevent double-spending. The notary clusters contain time-sampling authorities to make it functional.
What is the Vault?
Vault is a storage space that stores important node’s owner’s data. The consuming states are historical in nature, and the vault’s latest state is the unconsumed state.
We have reached the end of the article. You can check the online corda expert program for more. All the best!