BLOCKCHAIN INTERVIEW QUESTION
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Ques1) What is Blockchain? Ans. A Blockchain is a constantly growing ledger(file) that keeps a permanent record of all the transactions that have taken place, in a secure, chronological, and immutable way. It can be used for the secure transfer of money, property, contracts, etc. without requiring a third-party intermediary like bank or government. Ques2) What is the difference between Bitcoin blockchain and Ethereum blockchain? Ans. We can see the basic differences between Bitcoin blockchain and Ethereum blockchain in the below table. Points - Bitcoin Blockchain-Ethereum Blockchain Founder - Satoshi Nakamoto-Vitalik Buterin Release- Date9 Jan 2008-30 July 2015 Usage-Digital Currency-Smart Contracts Ques3) What are the different types of Blockchains? Ans. The different types of blockchains which introduce to the world are: There are mainly three types of Blockchains introduced to the world. 1. Public Blockchain A Public blockchain is a kind of blockchain which is "for the people, by the people, and of the people." There is no in-charge it means anyone can read, write, and audit the blockchain. 2. Private Blockchain A Private blockchain is a private property of an individual or an organization. It is controlled by a single organization that determines who can read it, submit the transaction to it, and who can participate in the consensus process. They are considered to be permissioned blockchain. 3. Consortium Blockchain or Federated Blockchain In this blockchain, the consensus process is controlled by a pre-selected group, i.e., group of companies or representative individuals. These pre-selected group is coming together and making decisions for the best benefit of the whole network. Ques 4) Where is a blockchain stored? Ans. The blockchain can be either stored as a flat file or as a database. Ques 5) What are the types of records that are present in the blockchain database? Ans. There are two types of records in a blockchain database. a. Transactional Records b. Block Records Ques 6) List the key features of blockchain? Ans. The essential properties of a blockchain are: a. Decentralized Systems b. Distributed ledger c. Safer & Secure Ecosystem d. Fast e. Low Transaction Fees f. Fault-Tolerant g. Minting