Technical Interview Questions
Double spending means spending the same money multiple times. In a physical currency, the double-spending problem can never arise. But in digital cash-like bitcoin, the double-spending problem can arise. Hence, in Bitcoin transactions, there is a possibility of being copied and rebroadcasted. It makes it possible that the same bitcoin could be spent twice by … Read more
Merkle tree is a fundamental part of blockchain technology. It is a mathematical data structure composed of hashes of different blocks of data, and which serves as a summary of all the transactions in a block. It also allows for efficient and secure verification of content in a large body of data. It also helps … Read more
Settlement in real-time: In the financial industry, blockchain can allowing the quicker settlement of trades. It does not take a lengthy process for verification, settlement, and clearance because a single version of agreed-upon data is available between all stack holders. Cost-saving: Blockchain allows peer-to-peer transactions to be completed without the need for a third party … Read more
Blockchain always links each block in backward order. In other words, blockchain links each block with its previous block. In a blockchain, blocks are linked in a specific chronological order, forming a chain. Each block contains a reference to the previous block’s hash, creating a continuous and immutable chain of blocks. The order of … Read more
Blockchain uses SHA-256 Hashing algorithm. The National Security Agency (NSA) in the USA develop SHA-256 Hashing algorithm. The most commonly used cryptographic algorithm in blockchain is the SHA-256 (Secure Hash Algorithm 256-bit). It is widely employed for creating hash functions that provide the necessary security and integrity for various aspects of blockchain technology, including … Read more