Blockchain Interview Questions and Answers
Ques 11. What is a hard fork in blockchain?
A hard fork is a significant and incompatible change to the protocol of a blockchain network, resulting in a divergence in the blockchain's transaction history. It requires all nodes to upgrade to the latest software version.
Ques 12. Explain the concept of tokenization in blockchain.
Tokenization involves representing real-world assets or assets on a blockchain as digital tokens. These tokens can be traded, exchanged, or used to represent ownership of physical or digital assets.
Ques 13. What is the purpose of a consensus algorithm in a blockchain network?
A consensus algorithm is used to achieve agreement among nodes in a blockchain network on the validity of transactions. It ensures that all participants have a consistent view of the distributed ledger.
Ques 14. Differentiate between a permissionless and permissioned blockchain.
Permissionless blockchains are open to anyone, allowing anyone to participate and validate transactions. Permissioned blockchains restrict access to a predefined set of participants, providing more control over the network.
Ques 15. Explain the concept of immutability in the context of blockchain.
Immutability refers to the inability to alter or tamper with data once it is recorded on the blockchain. It is a key feature that ensures the security and trustworthiness of the information stored on the blockchain.
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