Blockchain Interview Question ?

Advantages:

Challenges of Block-chain:

  • Higher costs — as Nodes seek higher rewards for completing Transactions in a Supply and Demand scenario
  • Slower transactions — as Nodes prioritise Transactions with higher rewards, backlogs of transactions build up
  • Smaller ledger — Not every Node can carry a full copy of the Blockchain, potentially affecting immutability, consensus etc.
  • More centralised — There is a high barrier to entry to become a Node, encouraging a larger amount of centralisation in the Network, with bigger players able to take more control.

Q 4. Why is Blockchain a trusted approach?

Q 5. Name the two types of records that are present in the blockchain database?

Q 6. Blockchain is a distributed database. How does it differ from traditional databases?

Q 7. What are the properties of Blockchain?

  • Decentralized Systems
  • Distributed ledger
  • Safer & Secure Ecosystem
  • Minting

Q 8. What is encryption? What is its role in Blockchain?

Q 9. What do you mean by blocks in the blockchain technology?

Q 10. How a block does is recognized in the Blockchain approach?

Q 11. Is it possible to modify the data once it is written in a block?

Q 12. What are Block Identifiers?

Q 13. Is it possible in Blockchain to remove one or more block from the networks?

Q 14. What exactly do you know about the security of a block?

Q 15. What are Merkle trees? How important are Merkle trees in Blockchains?

Q 16. What is a ledger? Is Blockchain an incorruptible ledger?

Q 17. Name the common type of ledgers that can be considered by users in Blockchain?

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

Q 22. State difference between proof-of-work & proof-of-stake?

Q 23. Name some popular platforms for developing blockchain applications

Q 24. What is Double Spending? Is it possible to double spend in a Blockchain system?

Q 25. What are the benefits of Blockchain that you know?

Advanced Blockchain Interview Questions

Q 1. Can you tell me some of the widely used cryptographic algorithms?

Q 2. Tell me more about RSA algorithm? How secure is this algorithm?

  • Brute force: It involves all possible secret keys
  • Mathematical attacks: In mathematical attack, we are using different techniques, which is similar in effort to factor the product of two primes

Q 3. Explain the significance of blind signature and how it is useful?

Q 4. What is Secret Sharing? Does it have any benefit in Blockchain technology?

Q 5. Can you explain what off-chain transactions are?

Q 6. What exactly do you know about executive accounting? Does Blockchain support the same?

Q 7. What are the threats to the information you are familiar with?

Q 8. How will you handle the risk management when it comes to securing the transactions records?

Q 9. What is 51% attack?

Q 10. What challenges information leak can impose on an organization?

Q 11. What is information processing according to you? What are the key challenges that are associated with it?

Q 12. Name organizations that can use Blockchain technology?

Q 13. What are the core requirements for a Business Blockchain?

Q 15. What is a security policy?

Q 16. Is the Blockchain Different from Banking Ledgers?

  • PBFT (Practical Byzantine Fault Tolerance)
  • Proof-of-work
  • Proof-of-stake
  • Delegated proof-of-stake
  • Proof-of-elapsed time
  • Different business needs
  • Different use cases
  • Also:
  • Cryptography/Strength of Algorithm
  • Regulation requirements
  • Implementation
  • Performance
  • Tokenization
  • Security
  • Privacy

Q 18. Is there any network specific conditions for using Blockchain technology in an organization?

Q 19. Name the steps that are involved in the Blockchain project implementation?

  1. Requirement identification
  2. Screen ideas consideration
  3. Project development for Blockchain
  4. Feasible study on the security
  5. Implementation
  6. Controlling and monitoring the project

Q 20. Explain a real-life use-case where Blockchain is being used?

  • Depositories and transfer agents are a single point of failure
  • Registration, transfer, distribution, scrutineering, courier fees
  • The more widely held, the higher the administration costs
  • Information asymmetry leads to market advantages
  • Forged securities still a concern
  • Counterparty risk is systemic

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ABHISHEK KUMAR

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