A functioning knowledge of the blockchain platform is one of the most sought-after skills across all job boards. The graph of blockchain-based occupations has increased as a result of the development of blockchain technology into a booming permissionless finance and other industries. Therefore, if you’ve been considering completing an online blockchain certification to become a certified blockchain professional, now is the perfect opportunity. Your prospects of finding employment and making a good living are increased if you possess skills that are in high demand.
But many of you might be wondering how you’d succeed in interviews for jobs as blockchain developers. We have put together a guide of interview questions for you to ace these kinds of hiring processes as a result.
List of Interview Questions for Blockchain Developer
1. Explain Blockchain Technology?
Using the blockchain, one may record financial transactions or digital assets in an incorruptible digital ledger. Furthermore, one may record the same in a corporate network. Here, these transactions are easy to track due to a decentralized, unchangeable ledger.
There are two types of assets: physical (like a home or vehicle) and intangible (like cash or land) (intellectual property, patents, copyrights, branding). A blockchain network makes it possible to monitor and exchange almost anything of value, which lowers the stakes and expenses for everyone involved.
As we know that, businesses thrive on data. Thus, the more businesses can receive it quickly and accurately, the better. Here, with blockchain technology, information is sent quickly, securely, and transparently. And all the network users can access it to retrieve the data, unless it’s a permissioned network. Furthermore, one may track orders, payments, accounts, production, and more on a blockchain network. And since all members have access to the same picture of the information, you can see all the intricacies of a transaction from start to finish, offering you more confidence and additional efficiencies and possibilities.
2. What is the fundamental tenet of the blockchain?
The distributed ledger is the underlying premise of blockchain technology. In this manner, each peer has a copy of the whole ledger including all modifications, making the ledger completely secure.
3. As a part of blockchain technology, what exactly are Blocks?
It’s like having a permanent record of transactional activities. So, we can say that blocks are the list of all transactions in chronological sequence. Basically, it’s like the page of a ledger or record book as per the blockchain expert professionals.
4. Name the different types of Blockchain networks.
One can accomplish building a blockchain network in a variety of ways. It is possible to have them constructed by a consortium, the government, or a private company.
- Public Blockchain
Anyone may join and participate in a public blockchain, like Bitcoin. However, it has some drawbacks including a large computing footprint, and lack of transaction privacy. These are crucial factors to consider when using public blockchain in a business setting.
- Private Blockchain
Private blockchain networks, unlike public blockchain networks, are peer-to-peer networks that do have a central point of control. As a result, a centralized management oversees the network. Also, it restricts who may join, implements a consensus-based protocol, and maintains a shared ledger of all transactions among selected members only. Thus, this may be a powerful tool for enterprises.
- Consortium or Cooperative Blockchains
One can divide the upkeep of a blockchain among several different companies. Here, pre-selected organizations having the data may only access or submit information regarding transactions and assets through the platform. Using a consortium blockchain is the best option for businesses that want all partners to have access to the blockchain and share responsibilities among them.
5. How does a blockchain recognize a Block?
Because it contains transactional data and the time stamp, the hash pointer found in every block serves as an anchor connecting it to the preceding block. Thus, it is impossible to make a mistake in the chronology this way.
6. In a Blockchain database, what various kinds of records can you find?
A blockchain expert can divide the record into two categories: block and transactional. Here, you don’t need to use sophisticated techniques to combine these two components.
7. Is it possible to make changes to the data after it has been written in a block?
It is impossible to make any changes or alterations after a block of text has been typed. You can’t reverse it. In fact, you’ll have to erase it from every block to get rid of any remaining data which is impossible.
8. Are there any prerequisites for using blockchain technology in an organization?
At present, there are no specified prerequisites. However, you will require a compatible system for peer-to-peer network in place. It eliminates the need for a third party to verify new blocks.
9. What is the Encryption Function in the Blockchain?
In a blockchain, there is encryption of every data so that the recipient may only decrypt it if it is intended for them. In fact, it allows a blockchain engineer to create a more secure and private system by doing so.
10. What are the reasons for the trustworthiness of Blockchain?
Even though there are a variety of technologies to choose from, the decentralized nature of blockchain makes it the safest option. Further, the immutability makes it very trustworthy.
11. Blockchain Ecosystem: What Are the Essential Elements? Explain.
There are three key components to the blockchain ecosystem:
- A Shared Ledger – A blockchain’s logical component. It’s a decentralized system.
- Node Application – A node software is a program that lets the computer communicate with the Blockchain.
- Consensus Algorithm- There must be a consensus method in place so that all of the nodes can agree on the blockchain’s rules.
12. Why is blockchain referred to as “resilient and lasting”?
All the information on blocks throughout the network is the same. Therefore, it’s said to be resilient and lasting. Hence, there is no single point of failure since no single entity can control it.
13. Is “Proof of Stake” and “Proof of Work” the Same Thing?
Using “Proof of Stake,” blockchain developers can create the next block depending on how much a person has “staked,” which is dependent on how many coins they own on a specific blockchain. While in “Proof of Work,” the miners compete with one another to finish network transactions and be paid. Here, users exchange digital tokens in a network.
14. Are there any Popular Platforms for Building Blockchain Applications?
Numerous platforms have entered the market due to the rise in the popularity of blockchain technology. In fact, these platforms allow building apps and solutions using cryptocurrencies. Some of the popular platforms are Ethereum, Hyperledger, Qtum, EOSIO, and IOTA.
Note: You can learn blockchain technology based on any of these platforms.
15. What Kinds of Records can Be Stored on a Blockchain?
The blockchain may protect all forms of records. ALso, new solutions may be effectively built depending on the kind of transactions. The following are examples of common sorts of records:
- Medical Transaction Records
- Self-Identity Protection
- Execution of Business Operations
- Transactions in the business world
- Documentation of any kind
- Other Organizational Tasks
This is an excellent opportunity to be a blockchain developer if you are certain that you have what it takes since employment possibilities are abounding right now. Blockchain developers are in high demand among Fortune 500 businesses like Accenture, Capgemini and IBM. These corporations are always on the lookout for qualified candidates. Because there is only one qualified blockchain developer for every five blockchain developer-related positions in the industry, learning the concepts discussed in this article and pursuing blockchain certifications will help you stay one step ahead of the competition and land lucrative jobs in this field. Hopefully this answers your query on how to become a blockchain engineer?
Create a position for yourself in the blockchain ecosystem while you still can. Visit Blockchain Council to learn more about blockchain degree programs.