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Blockchain Interview Questions

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Q1
What is Blockchain and how does it work?

Blockchain is a decentralized, distributed ledger technology that records transactions across a peer-to-peer network of computers.

Each block contains a list of transactions and a cryptographic hash of the previous block, creating a chain of blocks that is resistant to modification.

Once recorded, data becomes nearly immutable without consensus from the network.

Blockchain powers cryptocurrencies like Bitcoin and Ethereum, and is used in supply chain, voting, and smart contracts.

Decentralization, transparency, and tamper-resistance are key features.

Q2
What is a smart contract?

Smart Contracts are self-executing contracts with the terms of agreement written into code.

They run on blockchain platforms like Ethereum and execute automatically when conditions are met.

Use cases include DeFi, NFTs, supply chain, and automated settlements.

Smart contracts eliminate intermediaries, reduce costs, and increase trust in decentralized applications.

Security, gas fees, and immutability are key considerations in smart contract development.

Q3
What is mining in Blockchain?

Mining is the process of validating transactions and adding them to the blockchain in proof-of-work systems like Bitcoin.

Miners solve complex mathematical puzzles to earn rewards in the native cryptocurrency.

Mining secures the network, prevents double-spending, and distributes consensus without a central authority.

Other consensus mechanisms include Proof of Stake (PoS), Delegated PoS, and Practical Byzantine Fault Tolerance (PBFT).

Mining consumes energy but ensures decentralization and security in permissionless blockchains.

Q4
What is a Merkle Tree in Blockchain?
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A Merkle Tree is a data structure used in blockchains to efficiently verify the integrity of large data sets.

Each leaf node is a hash of a data block, and non-leaf nodes are hashes of their children, forming a tree structure.

Merkle Trees allow verifying a transaction is included in a block without downloading the entire dataset.

They are essential for light clients, SPV wallets, and efficient data verification in distributed systems.

Merkle Trees underpin the security and efficiency of modern blockchains.

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