Ethereum – Blockchain 2.0 Latest Interview questions and answers

Ethereum – Blockchain 2.0

Q 1. What do you know about Blockchain? What is the difference between Bitcoin blockchain and Ethereum blockchain?

The blockchain is a decentralized distributed database of immutable records. The technology was discovered with the invention of Bitcoins(the first cryptocurrency). It’s a trusted approach and there are a lot of companies in the present scenario which are using it. As everything is secure, and because it’s an open-source approach, it can easily be trusted in the long run.

Q 2. What is the principle on which blockchain technology is based on?

It enables the information to be distributed among the users without being copied.

Q 3. What are the different types of Blockchains?

Blockchain types-top blockchain interview questions-edureka

Blockchains are of three types: 

Q 4. Why is Blockchain a trusted approach?

  • Blockchain can be trusted due to so many reasons.
  • Its compatibility with other business applications due to its open-source nature.
  • Its security. As it was meant for online transactions, the developers have paid special attention to keeping up the pace when it comes to its security.
  • It really doesn’t matter what type of business one owns, Blockchain can easily be considered.

Q 5. Name the two types of records that are present in the blockchain database?

These records are block records and transactional records. Both these records can easily be accessed, and the best thing is, it is possible to integrate them with each other without following the complex algorithms.

Q 7. What are the properties of Blockchain?

There are four key features of blockchain:

  • Decentralized Systems
  • Distributed ledger
  • Safer & Secure Ecosystem
  • Minting

Q 8. What is encryption? What is its role in Blockchain?

cryptography-top blockchain interview questions-edureka

Data security always matters. Encryption is basically an approach that helps organizations to keep their data secure.The encrypted data is encoded or changed up to some extent before it is sent out of a network by the sender and only authorized parties can access that information.In Blockchain, this approach is useful because it simply adds more to the overall security and authenticity of blocks and helps to keep them secure.

Q 9. What do you mean by blocks in blockchain technology?

Blocks-top interview questions-edureka

Blockchain consists of a list of records. Such records are stored in blocks. These blocks are in turn linked with other blocks and hence constitute a chain called Blockchain.

Q 10. How does a block is recognized in the Blockchain approach?

Every block in this online ledger basically consists of a hash pointer which acts as a link to the block which is prior to it, transaction data and in fact a stamp of time.

Q 11. Is it possible to modify the data once it is written in a block?

No, it’s not possible to do so. In case any modification is required, the organization simply has to erase the information from all other blocks too. It is because of no other reason than this, data must be given the extreme care of while using this approach.

Q 12. What are Block Identifiers?

In Blockchain, blocks can be identified by the block header hash and the block height.

Q 13. Is it possible in Blockchain to remove one or more block from the networks?

Yes, it can be done. There are times when only a specific portion of this online ledger is to be considered. With the help of default options and filters, this can easily be done without making a lot of efforts.

Q 14. What exactly do you know about the security of a block?

Well, a block or the entire blockchain is protected by a strong cryptographic hash algorithm. Each block has a unique hash pointer. Any modification in the block constituents will result in the change in the hash identifier of the block.  Therefore, it offers an excellent level of security. Thus, one needs not to worry about the safety as well as the security of data that is present in a block.

Q 15. What are Merkle trees? How important are Merkle trees in Blockchains?

Merkle tree-top blockchain interview questions-edureka

Merkle Tree also known as ‘hash tree’ is a data structure in cryptography in which each leaf node is a hash of a block of data, and each non-leaf node is a hash of its child nodes.

The benefit of using the Merkle Tree in blockchain is that instead of downloading every transaction and every block, a “light client” can only download the chain of block headers.

Also, if someone needs to verify the existence of a specific transaction in a block, then he doesn’t have to download the entire block. Downloading a set of a branch of this tree which contains this transaction is enough. We check the hashes which are just going up the branch (relevant to my transaction). If these hashes check out good, then we know that this particular transaction exist in this block.

Q 16. What is a ledger? Is Blockchain an incorruptible ledger?

Blockchain is considered incorruptible. Any ill-intentioned individual acting alone is powerless. “To take over the network, an attacker would have to control more than 50 percent of its total computing power,” Augier explains. “We hope that’s a theoretical scenario, but we can’t be sure. Should it happen, the individual would take every precaution to avoid being noticed.” Not to mention the energy required to power the computers needed for the blockchain system to work.

Q 17. Name the common type of ledgers that can be considered by users in Blockchain?

types of networks top blockchain interview questions edureka

These are:

Q 18. How is a blockchain ledger different from an ordinary one?

The first and in fact the prime difference is Blockchain is a digital ledger that can be decentralized very easily. The chances of error in this approach are far less than that in an ordinary ledger. An ordinary ledger is what that is prepared by hands or by human efforts while the Blockchain performs all its tasks automatically. You just need to configure it in a proper manner and by following all the guidelines.

Ethereum – Blockchain 2.0 MCQs

1. Private Blockchain is a de-centralized type of Blockchain? 

Answer:- False

2. Blockchain which is popularly known as ‘for the people, by the people and of the people” is ___________. 

Answer:-Public

3. Bitcoin network would make it impossible to bypass the traditional financial intermediaries. –

Answer:- False

4. BlockChain provides ___________ database of every transaction involving value. 

Answer:- open decentralised

5. Bankchain is an example of _______. 

Answer:- Private Blockchain

6. Mainly how many types of blockchains have emerged after bitcoin introduced blockchain to the world?

Answer:- Three

7. Consortium Blockchain provides a faster and more protected ecosystem than a Private Blockchain? –

Answer:- True

8. The three concepts used to explain the foundation of blockchain are __________________. Answer:– Business Network, Digital Assets, Ledger

9. Digital assets must always be tangible. –

Answer:- False

10. We can buy cryptocurrency. –

Answer:- False

11. The value of coins ( litecoin, bitcoin) is same at a particular time. –

Answer:- False

12. HASH can be used to validate the input? –

Answer:- True

13. The two types of cryptography are ______________. 

Answer:- Asymmetric and symmetric

14. Encryption reduces data security? –

Answer:-  False

15. The value of cryptocurrency is independent of market conditions such as supply and demand.

Answer:- – False

16. Encrypted text is also known as ____________.

Answer:- – Cipher Text

17. Which among the following is the most flexible cryptocurrency?

Answer:- – Ether

18. Name the first cryptocurrency with computing power contribution?

Answer:- – Gridcoin

19. The rate of generation of new bitcoins is constant.

Answer:- – False

20. The output of Hashing is popularly known as _______ .

Answer:- – Digest

21. We may use bitcoin for purchasing merchandise as well?

Answer:- – True

22. Bitcoins can be purchased in exchange of services.

Answer:- – True

23. The higher the computational power, the lower is the difficulty in mining.

Answer:- – False

24. Which among the following are the advantages of using Bitcoin?

Answer:- – All

25. The sender and the receiver in a transaction provide miners with a fee.

Answer:- –False

26. Which platform could gain its best use case from supply chain industry?

Answer:- – Hyperledger

27. Which of the following platform(s) provides a modular architecture?

Answer:- – Hyperledger

28. New bitcoins are released every time a transaction is verified.

Answer:- – True

29. Ethereum is a digital currency.

Answer:- – False

30. Ether provides greater flexibility than Bitcoin does.

Answer:- – True

31. Which platform could gain its best use case from financial service industry?

Answer:- – R3 Corda

32. The first smart contract platform is _______.

Answer:- – Ethereum

33. In asymmetric key cryptography, the private key is kept by _________.

Answer:-  Everyone in the network

34. Blockchain could prevent robustness and transparency in the post – trade environment.

Answer:-  False

35. Bitcoin is __________. 

Answer:- Public to Public Currency(Wrong)

36. Bitcoin is an example of which type of blockchain?

Answer:-  Pubic 

37. _______ records all the transactions in a blockchain.

Answer:-  BLock

38. Smart Contracts are reversible.

Answer:- – False

39. Coincap is a budding cryptocurrency.

Answer:- – False

40. One symbol could be substituted with a key using substitution cipher.

Answer:- – False

41. Number of bitcoins to be ever created would depend upon demand-supply in the market? Answer:- – False

42. Crypto analysis is used ___________. 

Answer:- To find some insecurity in a cryptographic scheme

43. Blockchain offers identity authentication through a visible ledger and thus have greater potential for cyber risk.

Answer:- – False

44. Both ________ and ________ automatically check your previous transactions to make sure you have enough bitcoins to send.

Answer:- – Ledger and your wallet

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