Blockchain Interview Questions and Answers
Ques 6. Explain the concept of consensus in blockchain.
Consensus is the process by which all participants in a blockchain network agree on the validity of transactions. Different consensus algorithms, such as Proof of Work and Proof of Stake, ensure agreement among nodes.
Ques 7. What is a Merkle Tree, and how is it used in blockchain?
A Merkle Tree is a data structure that organizes transactions in a block. It allows for efficient verification of the integrity of data in a block by creating a single hash (the Merkle root) that represents all transactions.
Ques 8. Explain the role of a wallet in blockchain.
A wallet in blockchain is a digital tool that allows users to store and manage their cryptographic keys, which are essential for accessing and managing their cryptocurrency holdings and conducting transactions.
Ques 9. What is the purpose of the nonce in Proof of Work consensus?
The nonce is a number used in mining to find a hash value that meets specific criteria. Miners adjust the nonce value until they find a hash that satisfies the difficulty level set by the network, thus creating a new block.
Ques 10. How does a blockchain prevent double-spending?
Blockchain prevents double-spending by requiring consensus among participants to validate and add transactions to the ledger. Once a transaction is recorded in a block, it becomes part of the immutable blockchain, making it tamper-resistant.
Most helpful rated by users: