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15 Commonly Asked Blockchain Interview Questions & Answers (Detailed with Examples)
- Blockchain interview questions often cover fundamental concepts and applications.
- Blockchain: decentralized, distributed ledger ensuring security and transparency.
- Key features: decentralization, immutability, transparency, security, smart contracts.
- Different types of blockchains: public, private, consortium.
- Smart contracts are self-executing agreements written in code, for example, DeFi lending.
- Consensus mechanisms like PoW and PoS ensure blockchain security.
- A 51% attack occurs when a single entity controls over 50% of a blockchain's mining power.
- NFTs are unique digital assets stored on a blockchain with examples like CryptoPunks and NBA Top Shot.
- Difference between coins and tokens: coins are native to their blockchain, while tokens are built on existing blockchains.
- DeFi offers blockchain-based financial services like Uniswap, Aave, and MakerDAO.
- Cryptography ensures data integrity, secure transactions, and ownership proof in blockchain.
- Blockchain prevents double-spending through consensus mechanisms and network nodes.
- Challenges of blockchain include scalability, energy consumption, and regulation.
- Web3 is a decentralized internet powered by blockchain where users control their data.
- Sharding in blockchain splits the ledger into smaller parts to enhance speed.
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