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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.

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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.

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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.

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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.

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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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