Blockchain Interview Questions and Answers
Ques 1. What is blockchain?
Blockchain is a decentralized, distributed ledger technology that enables secure and transparent record-keeping of transactions across multiple parties.
Ques 2. Explain the concept of a smart contract.
A smart contract is a self-executing contract with the terms of the agreement directly written into code. It automatically enforces and executes the terms when predefined conditions are met.
Ques 3. What is the role of miners in blockchain?
Miners are participants in a blockchain network who validate transactions and add them to the blockchain. They use computational power to solve complex mathematical problems and reach consensus on the state of the ledger.
Ques 4. Differentiate between public and private blockchains.
Public blockchains are open to anyone, while private blockchains restrict access to a specific group of participants. Public blockchains are decentralized, while private blockchains may be centralized or partially decentralized.
Ques 5. What is a 51% attack, and how can it be prevented?
A 51% attack occurs when an entity controls more than 50% of a blockchain's mining power, allowing them to manipulate transactions. Prevention measures include using consensus algorithms, such as Proof of Work or Proof of Stake.
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