Technical Interview Questions
There are many types of consensus algorithms or techniques available. The most popular consensus algorithm is: Proof-of-Work(PoW) Proof-of-Stake(PoS) Delegated Proof-of-Stake(DPoS) Proof-of-Authority(PoA) Proof-of-Elapsed Time(PoET) Byzantine Fault Tolerance There are several types of consensus algorithms in blockchain, each designed to achieve agreement among nodes in a decentralized network. The most common ones include: Proof of Work … Read more
The consensus algorithm is the method of gaining consensus on a change of data over the system or distributed network. Consensus algorithms are heavily used in blockchains as they enable the network of unknown nodes to reach consensus on the data that is being stored or shared through the blockchain. A consensus algorithm is … Read more
A transaction is a transfer of value between Bitcoin wallets that gets included in the blockchain. Bitcoin wallets keep a secret piece of data called a private key. The private key is used to sign transactions and provide mathematical proof that they have come from the owner of the wallet. Bitcoin uses blockchain technology … Read more
Blockchain technology was first used for financial transactions. But nowadays, its scope is increasing and applies in a variety of industries like e-commerce, data management, energy, gaming, e-governance, and many more. There are several commercial and open-source platforms available to provide the framework for creating applications that support a blockchain. Hyperledger and Ethereum are actively … Read more
The private key is used to encrypt or lock a message or transaction which is sent on the blockchain network. The sender can send a message using the public key of the receiver. On the other hand, the receiver can decrypt the message or the transaction using his private key. By using the private and … Read more