Blockchain Interview Questions and Answers
Ques 21. What is the concept of atomic swaps in blockchain?
Atomic swaps enable the direct exchange of one cryptocurrency for another between users without the need for an intermediary or centralized exchange. It occurs atomically, meaning the swap either happens in full or not at all.
Ques 22. Explain the significance of cryptographic hashing in blockchain.
Cryptographic hashing is used to create fixed-size and unique hash values for data on the blockchain. It ensures data integrity and security by making it difficult to reverse engineer the original data from the hash.
Ques 23. What is the difference between on-chain and off-chain scaling solutions?
On-chain scaling solutions involve making changes to the blockchain protocol itself to improve scalability. Off-chain scaling solutions, on the other hand, handle transactions outside the main blockchain to alleviate congestion.
Ques 24. Explain the concept of sharding in blockchain.
Sharding is a scaling technique that involves breaking the blockchain into smaller parts called shards. Each shard processes its transactions, improving the overall scalability and efficiency of the blockchain network.
Ques 25. What is the Byzantine Generals Problem in the context of blockchain?
The Byzantine Generals Problem refers to the challenge of achieving consensus in a distributed system where nodes may behave maliciously or fail to communicate reliably. Blockchain consensus algorithms address this problem to ensure network security.
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