Blockchain Mock Interview

Master 26 Blockchain interview questions covering consensus algorithms, smart contracts, and cryptography.

Question 15 of 26

What is a consensus algorithm, what is its purpose, and can you provide some examples?

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William Swansen has worked in the employment assistance realm since 2007. He is an author, job search strategist, and career advisor who helps individuals worldwide and in various professions to find their ideal careers.

This question can be easily recognized as technical since it asks about a specific concept used in this job, its purpose and asks you to provide some examples. When conducting research before an interview, you should try to understand the processes the organization uses to conduct the work you are interviewing for. This will enable you to provide examples that they can relate to and which align with the job. Doing this will set you apart from other people interviewing for this position.

William Swansen

"A consensus algorithm is a protocol used by all the nodes within a blockchain to reach an agreement on the current state of a ledger. The purpose of a consensus algorithm is to establish trust between the nodes and to ensure that each block is secure. Some of the more common consensus algorithms include:

oProof-of-Work(PoW)
oProof-of-Authority
oProof-of-Activity
oUnique Node Lists
oDelegated Proof-of-Stake
oByzantine Fault Tolerance
oSIEVE"

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26Blockchain Interview Questions & Answers

1.Can you explain in general terms what Blockchain is?

2.Please step me through the way blockchain works.

3.Why do you feel Blockchain is a trusted approach to financial transactions?

4.What is an individual block in a blockchain, and how do you recognize it?

5.What are the individual components of a block?

Blockchain Mock Interview

What is a consensus algorithm, what is its purpose, and can you provide some examples?

26Blockchain Interview Questions & Answers

1.Can you explain in general terms what Blockchain is?

2.Please step me through the way blockchain works.

3.Why do you feel Blockchain is a trusted approach to financial transactions?

4.What is an individual block in a blockchain, and how do you recognize it?

5.What are the individual components of a block?

6.Can you remove a block from the networks in Blockchain?

7.Can you change the data in a block once it is written?

8.What are the two types of records that are maintained in the blockchain database?

9.In addition to financial data, what other types of records can be kept in a blockchain?

10.What are the three main types of blockchains?

11.Can you break down the blockchain architecture into its core components?

12.What is a Cryptocurrency, and how does it leverage the features of a blockchain?

13.What role does encryption play in a blockchain?

14.How does a blockchain ledger different from a normal bookkeeping ledger?

15.What is a consensus algorithm, what is its purpose, and can you provide some examples?

16.What are some of the key blockchain principles that address security threats?

17.Can you discuss the differences between Proof-of-Stake and Proof-of-Work?

18.How is a blind signature used in cryptocurrency?

19.Can you explain double-spending in the context of a blockchain?

20.Is a 51% attack related to double-spending, and if so, how?

21.What is a Coinbase transaction, and how is it created?

22.Can you explain Merkle trees and the role they play in a blockchain?

23.How is your transaction data kept safe in a blockchain?

24.Can you explain what Secret Sharing is?

25.Please explain the difference between a scriptPubKey and a P2SH address.

26.What is Mining, and how is it used in a blockchain?