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Top Benefits of Blockchain Certification in Your Career

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Top Benefits of Blockchain Certification in Your Career Are you confused if a Blockchain certification can take your career to the next level? This article enlists the top benefits of Blockchain certifications that will help you clear your doubts. Table of Contents Overview Benefits of Blockchain Certifications Concluding Lines: How to Become a Certified Professional? Overview At present, Blockchain is considered one of the most revolutionary technologies as it transforms the way we interact, transact, and share information. Many technocrats and Blockchain Experts also believe that it is going to be the most disruptive technology in the next decade. Blockchain’s concept of decentralization has brought finance, supply chain, healthcare, logistics, and many others closer to transparency, freedom from intermediaries, and heightened efficiency. Today, this technology is not only used by tech giants, enterprises, federal agencies, and even startups have started adopting Blockchain. In fact, they are looking for Certified Blockchain Experts and are considering certified professionals over the non-credential peers. Benefits of Blockchain Certifications In this section, let’s explore some of the major benefits of Blockchain Certifications. It is emerging as one of the favorite technologies of businesses of all sizes There is no denying the fact that today Blockchain is emerging as one of the favorite technologies of businesses of all types and sizes. Before COVID-19, many organizations were already interested in digital transformations. The pandemic situation accelerated the pace of digital capabilities across the globe, while others implemented digital capabilities for the first time as a matter of survival. Large, well-established companies and crypto-startups are choosing Blockchain as a secure and transparent network for their efficient business operations. This adoption rate indicates that the job market for Blockchain enthusiasts would continue to expand in the years to come. Such Certifications help aspirants gain an in-depth understanding of technology, including its technical and functional aspects, and strengthen professionals’ portfolios. Rising trend of job opportunities According to the exclusive report by MarketsandMarkets published in May 2020, the Blockchain market size is expected to grow from USD 3.0 billion in 2020 to USD 39.7 billion in 2025. This suggests that the job market will see rapid growth internationally, and Blockchain developers and other related professionals will be in great demand. Some of the prominently demanded roles in this domain include Blockchain Experts, Architects, Ethereum Developers, Smart Contract Developers, and much more. These Certifications help individuals to prove their Blockchain skills & understanding, gain an in-depth understanding of technology & its implementation, implement their skills across any applications and build their own Blockchain enterprise with acquired knowledge. Certifications can help people make better investments and trading in cryptocurrency. According to the Cambridge Center for Alternative Finance, cryptocurrency users have tripled from 35 million people in 2018 to 101 million people in Q3 2020. A study conducted by researchers from the United Kingdom’s Financial Conduct Authority also revealed a 78% increase since 2019. Also, in October 2020, when Paypal announced that it would be introducing crypto transactions, it was reported that it was the best quarterly return in PayPal’s history. Interest in digital assets is booming. Thus a comprehensive understanding of Blockchain through certifications can help you make better investments and trading in cryptocurrency. Cryptocurrency certification will enhance individual confidence and provide them with the necessary skills for better hiring opportunities as well. Exceptionally high salaries of Certificate Holders The salaries of Blockchain professionals are skyrocketing. In fact, it is the most demanding skill at present. According to Glassdoor, the national average salary for a Blockchain Developer is $1,01,689 in the United States, and the national average salary of a developer is ₹5,07,137 in India. Glassdoor also reports that the average salary of a Developer is £50,137 in London, UK. But to earn high salaries, it is important to have the right skills in this space. Certifications help you with the right set of skills so that you can adapt perfectly to the rising trend of job opportunities in this space. Blockchain Council, a globally-recognized online platform known for imparting world-class training with its own market research, found that people with the right skills and certification, on average, make 30% more salary compared to equivalent job profiles. It is the technology of the future. Many technocrats and Blockchain Experts believe that it is a technology of the future. As large enterprises such as IBM, Microsoft, Apple, Google, and many more are incorporating decentralized technologies into their business models, it is clear that this technology is going to bring significant change and evolution. This represents another exceptional reason to pursue Blockchain certifications. Concluding Lines: How to Become a Certified Blockchain Professional? We have talked a lot about the benefits of Blockchain certifications. Such certification benefits are not limited to exploring jobs, but they also help build confidence and ensure a competitive advantage over other players in this space. If you are interested in learning and upgrading your skills, you can get enrolled in Blockchain Council and become a Certified Blockchain Expert. Backed by the extensive practical-based sessions, this online organization offers online training and certifications to aspiring trainees to render the desired competence to have a successful career in the Blockchain space. So what are you waiting for? Get enrolled now! To get instant updates about Blockchain Technology and to learn more about online Blockchain Certifications, check out Blockchain Council

Are you confused if a Blockchain certification can take your career to the next level? This article enlists the top benefits of Blockchain certifications that will help you clear your doubts. 

Table of Contents 

  • Overview 
  • Benefits of Blockchain Certifications 
  • Concluding Lines: How to Become a Certified Professional?

Overview 

At present, Blockchain is considered one of the most revolutionary technologies as it transforms the way we interact, transact, and share information. Many technocrats and Blockchain Experts also believe that it is going to be the most disruptive technology in the next decade. Blockchain’s concept of decentralization has brought finance, supply chain, healthcare, logistics, and many others closer to transparency, freedom from intermediaries, and heightened efficiency.

Today, this technology is not only used by tech giants, enterprises, federal agencies, and even startups have started adopting Blockchain. In fact, they are looking for Certified Blockchain Experts and are considering certified professionals over the non-credential peers.

Benefits of Blockchain Certifications 

In this section, let’s explore some of the major benefits of Blockchain Certifications.

  • It is emerging as one of the favorite technologies of businesses of all sizes

There is no denying the fact that today Blockchain is emerging as one of the favorite technologies of businesses of all types and sizes. Before COVID-19, many organizations were already interested in digital transformations. The pandemic situation accelerated the pace of digital capabilities across the globe, while others implemented digital capabilities for the first time as a matter of survival. 

Large, well-established companies and crypto-startups are choosing Blockchain as a secure and transparent network for their efficient business operations. This adoption rate indicates that the job market for Blockchain enthusiasts would continue to expand in the years to come. 

Such Certifications help aspirants gain an in-depth understanding of technology, including its technical and functional aspects, and strengthen professionals’ portfolios. 

  • Rising trend of job opportunities

According to the exclusive report by MarketsandMarkets published in May 2020, the Blockchain market size is expected to grow from USD 3.0 billion in 2020 to USD 39.7 billion in 2025. This suggests that the job market will see rapid growth internationally, and Blockchain developers and other related professionals will be in great demand. Some of the prominently demanded roles in this domain include Blockchain Experts, Architects, Ethereum Developers, Smart Contract Developers, and much more. These Certifications help individuals to prove their Blockchain skills & understanding, gain an in-depth understanding of technology & its implementation, implement their skills across any applications and build their own Blockchain enterprise with acquired knowledge.

  • Certifications can help people make better investments and trading in cryptocurrency

According to the Cambridge Center for Alternative Finance, cryptocurrency users have tripled from 35 million people in 2018 to 101 million people in Q3 2020. A study conducted by researchers from the United Kingdom’s Financial Conduct Authority also revealed a 78% increase since 2019. Also, in October 2020, when Paypal announced that it would be introducing crypto transactions, it was reported that it was the best quarterly return in PayPal’s history. Interest in digital assets is booming. 

Thus a comprehensive understanding of Blockchain through certifications can help you make better investments and trading in cryptocurrency. Cryptocurrency certification will enhance individual confidence and provide them with the necessary skills for better hiring opportunities as well.

  • Exceptionally high salaries of Certificate Holders

The salaries of Blockchain professionals are skyrocketing. In fact, it is the most demanding skill at present. 

According to Glassdoor, the national average salary for a Blockchain Developer is $1,01,689 in the United States, and the national average salary of a developer is ₹5,07,137 in India. Glassdoor also reports that the average salary of a Developer is £50,137 in London, UK.

But to earn high salaries, it is important to have the right skills in this space. Certifications help you with the right set of skills so that you can adapt perfectly to the rising trend of job opportunities in this space.

Blockchain Council, a globally-recognized online platform known for imparting world-class training with its own market research, found that people with the right skills and certification, on average, make 30% more salary compared to equivalent job profiles.

  • It is the technology of the future.

Many technocrats and Blockchain Experts believe that it is a technology of the future. As large enterprises such as IBM, Microsoft, Apple, Google, and many more are incorporating decentralized technologies into their business models, it is clear that this technology is going to bring significant change and evolution. This represents another exceptional reason to pursue Blockchain certifications.

Concluding Lines: How to Become a Certified Blockchain Professional?

We have talked a lot about the benefits of Blockchain certifications. Such certification benefits are not limited to exploring jobs, but they also help build confidence and ensure a competitive advantage over other players in this space.

If you are interested in learning and upgrading your skills, you can get enrolled in Blockchain Council and become a Certified Blockchain Expert. Backed by the extensive practical-based sessions, this online organization offers online training and certifications to aspiring trainees to render the desired competence to have a successful career in the Blockchain space. 

So what are you waiting for? Get enrolled now!

To get instant updates about Blockchain Technology and to learn more about online Blockchain Certifications, check out Blockchain Council.  

Top Benefits of Blockchain Certification in Your Career

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Blockchain and IoT: A Solid Technological Duo

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Blockchain and IoT: A Solid Technological Duo

Wondering what can be the benefits of combining Blockchain with IoT? Well, we have got you covered. This article talks about how Blockchain can help IoT and talks about some of the popular use-cases of Blockchain and IoT. 

Table of Contents 

  • Overview of Blockchain and IoT 
  • How Blockchain can Help IoT
  • Applications of IoT and Blockchain
  • Concluding Lines 

Overview of Blockchain and IoT 

Blockchain is a peer-to-peer(P2P) decentralized distributed ledger technology that enables data to be exchanged among multiple parties without involving any third-party intermediary. It has the potential to offer transparency, immutability, security, and privacy and is expected to bring radical changes in a broad range of industries, including business models and operating processes such as payment, accounting, and auditing.

IoT, on the other hand, is a mechanism or interconnection between ordinary computing devices and objects that allow them to receive and transmit data over the internet. IoT devices are known to open up infinite opportunities for businesses to run smart operations. 

Now comes the question of why does the IoT ecosystem need a Blockchain? The answer to this is straightforward. IoT devices suffer from various shortcomings such as lack of compliance in the manufacturing stage, security holes in the device updates, vulnerability to DDoS attacks, etc. Thus, for transforming their operations in terms of accountability and security, enterprises and organizations can send their IoT data to an immutable blockchain ledger for added accountability and security. 

Are you looking for Blockchain Certifications? Your search ends here!

How Blockchain can Help IoT

Before discussing how Blockchain can help the IoT ecosystem, it is crucial to note that IoT devices are powered by centralized servers, which won’t be enough for long-term solutions. 

 Thus, if IoT devices want to reach their full potential, they must move away from the centralized servers and switch to the concept of decentralization. Unlike the internet alone, Blockchain is decentralized, distributed, open, inclusive, immutable, and secure, giving unprecedented capabilities to create and trade value worldwide.

Let’s delve deeper and explore how Blockchain can help IoT.

  • Brings Trust

As we know, with Blockchain, there is no centralized server in control of your data; thus, technology maintains a complete level of trust. Thus, with the help of Blockchain in IoT, any party can get the true form of trustless connectivity.

  • Cost-Efficient 

Additional safety is one of the prime reasons for high costs. Since IoT devices are prone to vulnerabilities and DDOS attacks, they require additional security mechanisms, which of course, comes with high costs. But Blockchain and IoT can manage everything on their own without any issues, reducing the additional cost associated with security. 

  • Streamline Processes

Blockchain in IoT can streamline the entire process without involving any third-party intermediaries. Moreover, Blockchain’s smart contract functionalities help smart devices to monitor themselves and work independently.

  • Applications of IoT and Blockchain

Now, as we have understood how Blockchain can help the ecosystem of IoT, let’s explore some of the applications of IoT and Blockchain.

  • Blockchain in Agriculture

The combination of Blockchain and IoT has the ability to completely transform the food processing market, from farm to grocery store to home. By installing IoT sensors in the farming area and sending data directly to Blockchain can bring transparency and security and can overall transform the food supply chain. 

  • Tracking Components and Maintaining Compliance

The ability to track components that go into an aircraft or automobile is critical in terms of safety and regulatory compliance. IoT data stored in Blockchain enables all the involved parties to see component provenance throughout a product’s life. 

  • Healthcare 

Maintaining privacy is crucial, especially in the healthcare sector, as there are possibilities of counterfeit medicines. Thus transparency and traceable nature of Blockchain, along with the embedded IoT sensors, can help monitor and trace the shipment of drugs right from their origin to the supply chain destination.

Apart from these, the Department of Homeland Security is leveraging Blockchain and IoT to prove that the broader surveillances’ information is legit. Also, Maersk is working with IBM and utilizing Blockchain and IoT to change how the global supply chain works.

Want to know more about Blockchain and its use-cases in various domains? Get started today as a Certified Blockchain Expert!

Concluding Lines: Are there any Prerequisites?

From the above discussion, it is clear that undoubtedly Blockchain and IoT are good technological combos, but some of the prerequisites must be met. Like for instance, the willingness of companies to collaborate, despite their different interests, the integration of the Blockchain platform in business operations, the right choice of platform protocol, the technical re-alignment towards use cases, and, most important legal regulations that allow the facilitation of Blockchain platforms in the Internet of Things industry.

To get instant updates about Blockchain Technology and to learn more about online Blockchain Certifications, check out Blockchain Council.  

Blockchain and IoT: A Solid Technological Duo

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Top Cryptocurrency Payment Apps That You Should Know

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Top Cryptocurrency Payment Apps That You Should Know

Are you a crypto enthusiast? Want to perform crypto transactions using a user-friendly payment app? Want to know which are the best options that are available? This article has got you covered. 

Table of Contents 

  • What is Crypto Payment App?
  • Best Crypto Payment Apps of 2021 
  • Apple Pay To Be Used to Spend Bitcoin: Recent Announcement 
  • Concluding Lines 

What is Crypto Payment App?

Cryptocurrency payment Apps allow businesses and individuals to accept cryptocurrencies from any country as a form of transactional payment from clients and other participating parties customers in exchange for goods or services. The main purpose of such apps is to promote the widespread adoption of varieties of cryptocurrencies.

Since cryptocurrencies are backed by Blockchain technology, they facilitate easy and confidential transactions and, most importantly, eliminates banking fees.

Want to know more about cryptocurrencies and Blockchain technology? Get started today with the best cryptocurrency and Blockchain certifications now! 

Best Crypto Payment Apps of 2021 

Let’s explore some of the top-rated crypto payment apps of 2021.

If you want to take control of your crypto, turn crypto into dollars, leverage multi-sig security, and manage funds across platforms, go for Bitpay. It is known to be one of the world’s largest providers of Bitcoin and cryptocurrency payment services. It helps you manage and secure your funds with multi-signature and key encryption. Moreover, one can also keep track of their funds by receiving prompt email and push notifications related to payments, transfers, and proposals and spend all around the world. 

The BitPay Wallet app supports various cryptocurrencies such as Ether, Bitcoin Cash and many dollar-pegged stable coins. 

eToro is one of the leading trading platforms that is home to around 12 million traders across the globe. One can invest in a wide category of digital assets on this platform without spending any markups, ticketing, or management fees. Moreover, there are no restrictions on trading volume as well. 

Cryptopay is another popular platform that enables individuals to easily access cryptocurrencies across countries. With Cryptopay, one can buy BTC, ETH, LTC, and XRP with their credit card or debit card and enjoy the economical rates and flat fees. Talking about crypto transaction fees, it’s just charge 1% for the currency exchange. 

  • Coinbase 

Coinbase provides the easiest way for users to buy, sell, and manage their cryptocurrency portfolio. It offers a variety of advanced features that make it the ideal platform to start trading for beginners and experts as well. It allows android users and iOS users as well to keep track of cryptocurrencies and manage their assets securely. It also allows individuals to store their funds in a vault with time-delayed withdrawals.

  • Electroneum 

This is a unique, UK-based cryptocurrency app that is centered on empowering people to offer a mobile-first payment solution. Due to its popularity, it now has more than millions of users around the globe. 

Electroneum (ETN) is helping all those who have no visa, no MasterCard, no PayPal, etc., to pay for goods and services, both in-store and online. Electroneum app lets anyone hold and transfer value in terms of ETN immediately at a minimal cost. 

Apple Pay To Be Used to Spend Bitcoin: Recent Announcement 

According to the recent announcement, Apple Pay can now be used to spend Bitcoin. The news statements read that the US cardholders of the BitPay Prepaid Mastercard can add their card to Apple Wallet and spend in stores, in apps, and online through Apple Pay. 

As BitPay continues to improve its global blockchain solutions to make paying with cryptocurrencies faster and safer, apart from Apple Pay, Bitpay also plans to add support for Google Pay and Samsung Pay by the end of next month. Bitpay intends to empower customers to manage and spend Bitcoin and also turn it into dollars and pay with the BitPay Card.

Please note that these are not the only crypto apps. There are many others, and we have just listed a few of them. 

Concluding Lines 

Have you used any of these crypto payment apps? Which, according to you, is the best one? Let us know in the comment section below. 

If you want to familiarize yourself with the ins and outs of Cryptocurrency trading right from scratch, you can get enrolled in one of the Cryptocurrency certification programs and become a Certified Cryptocurrency Trader. 

To get instant updates about Blockchain Technology and to learn more about online Blockchain Certifications, check out Blockchain Council. 

Top Cryptocurrency Payment Apps That You Should Know

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How is the Blockchain and Fashion Industry a Perfect Fit?

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If you are wondering what are the use-cases of Blockchain in the fashion industry and what its advantages are, you have landed on the right page. This article talks about the role of Blockchain in the fashion industry, also answering what the future holds for Blockchain professionals? 

Let’s delve deeper to explore. 

Table of Contents 

  • What is Blockchain Technology?
  • Ways Blockchain can Transform the Fashion Industry 
  • Wrapping Up: The Future of Blockchain

What is Blockchain Technology?

Blockchain is a peer-to-peer(P2P), decentralized distributed ledger technology that ensures that records stored cannot be forged or destroyed. The idea behind this is to provide transparency, immutability, data security, and proof that the data is secured and not altered.

Although this technology is most famous for facilitating the rise of digital currencies, there are several other non-crypto currency uses. Technocrats and Blockchain Experts believe that the technology could considerably outpace cryptocurrencies themselves in terms of its overall impact.  

Today, this distributed ledger technology is starting to be adopted by multiple industries that are keen to promote transparency, security, and ethical supply chains. One such industry is fashion. 

Are you looking for Blockchain certifications? Want to get started as a Blockchain Expert or a Blockchain Developer? Your search ends here with Blockchain Council. 

Ways Blockchain can Transform Fashion Industry

In this section, let’s explore some of the ways by which Blockchain can provide a new definition to the fashion industry.

Provide Transparency in Supply Chains 

At present majority of the supply chains are opaque. Also, the supply chain for a simple clothing item involves multiple manufacturing stages across multiple countries. 

When it comes to the fashion industry, it means it becomes difficult for brands to monitor what materials are being used while making their finished products. Here comes the role of Blockchain in tracking and maintaining a complete record of products’ journey. 

This technology can help the fashion industry to track clothes production from the raw materials to the finished product by offering complete transparency. This transparency tracking process offers producers insights into their value chain, ensuring proper third-party goods handoff and final product labeling. 

Create Solid Proofs of Use for Trademarks

Apart from the use-cases mentioned above, technology can also help in creating solid evidence of use for trademarks. Such trademarks will help in saving time as well as money in all processes that are associated with renewing and securing a trademark in case of disputes and invalidity actions.

Helps in Anti-counterfeiting

Blockchain can be helpful in combating counterfeiting through authentication of a product along with its personal history. With the help of a Blockchain-supported certification process, each new product is provided with a digital authentication certificate. In addition, it keeps track of all the individuals involved in the process where details of a particular individual item can be verified to confirm its authenticity and its location, authenticating whether the product is genuine or not.

For example, Vacheron Constantin offers a validation mechanism backed by Blockchain whereby a digital identification certificate is issued to each new watch. And every time the watch is serviced or transferred, the records are stored on a public ledger. 

Apart from this, Hugo Boss, LVMH, and many others are utilizing Blockchain technology to ensure the authenticity and traceability of luxury products and track their goods in the supply chain. 

Want to become a Certified Blockchain and Supply Chain Professional? Get started today!

Improve Efficiency and Reduces Operational Costs 

Blockchain improves efficiency by removing intermediaries from the processes due to its decentralized nature. 

By automating the entire processes for fields such as payments, real estate, etc., Blockchain saves the weeks, unlike the traditional process that would take weeks and even months to identify the material origin and supply line. 

Moreover, Blockchain can be considered a way to reduce operating costs by offering improved data processing, supply chain transformation, and decreased counterfeiting risk.

Wrapping Up: The Future of Blockchain

The future of Blockchain is as bright as its fan thinks. Starting from Crypto-enthusiasts to ending with business minds, this technology can be seen as a one-stop solution to many problems. Surveys and headline also reveal that Blockchain developers salaries will go off the charts in the years to come. 

And this is definitely good news for all Blockchain enthusiasts. 

If you are planning to start your Blockchain career, this is the best time to invest your time and upskill. Blockchain certifications offered by Blockchain Council are specially crafted by experts in Blockchain and cover topics from basic concepts to the very core. 

To get instant updates about Blockchain Technology and to learn more about online Blockchain Certifications, check out Blockchain Council. 

How is the Blockchain and Fashion Industry a Perfect Fit?

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Ethereum Vs. Hyperledger: A Comprehensive Guide

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This article talks about the major differences between two of the most popular blockchain platforms, Ethereum and Hyperledger, explaining how they differ in terms of use-cases, operation, consensus, and so on. 

Table of Contents 

  • What is Ethereum?
  • What is Hyperledger?
  • Ethereum Vs. Hyperledger
  • Concluding Lines: Which Is The Best Among The Two?

What is Ethereum?

Ethereum can be defined as an open-source platform for decentralized applications. Based on Blockchain technology, this platform aims to empower users to come up with secure digital agreements and have full control of their money. 

Apart from this, Ethereum claims to have the second-largest market cap in the cryptocurrency world, Bitcoin being the first. 

What is Hyperledger?

Hyperledger is an open-source global collaboration that helps in creating and developing enterprise-grade and distributed ledger frameworks to accelerate the development of cross-industry blockchain technologies. 

Ethereum Vs. Hyperledger

Both Ethereum and Hyperledger can be distinguished based on the following parameters:

  • Purpose of the Platforms
  • Operation Mode 
  • Peer Role
  • Confidentiality Level In Each
  • Consensus Mechanism 
  • Programming Languages

Purpose of the Platforms

Ethereum: Ethereum was introduced with the sole purpose of running smart contracts on EVM. It also enables the deployment of decentralized applications, also known as dApps. 

Hyperledger: This platform was introduced to accelerate industry-wide collaboration for developing high-performance and reliable blockchain. This platform also enables people to develop personalized blockchains for their various needs.

Please note that Hyperledger is for a B2B business, whereas Ethereum is a B2C business.

Operation Mode 

Ethereum: The operation mode in Ethereum is public, which means anyone can access the Blockchain network, and no permission is needed to access the network. 

Hyperledger: Hyperledger, on the other hand, is a private Blockchain, meaning only the authorized participants can access the network. In other words, we can say that the network is limited to a predefined community of participants with permission.

Peer Role

In Ethereum, each peer has a role, meaning that if a transaction takes place, several nodes have to participate in it for its completion, which leads to several issues such as scalability, privacy, and efficiency.
On the other hand, Hyperledger offers a distributed ledger technology(DLT) that doesn’t rely on informing each peer in the network to perform a transaction.

Confidentiality Level In Each

If we talk about Ethereum, it is a public network, which means all the transactions recorded on the Blockchain network are visible and accessible by every peer. Whereas Hyperledger is private and permissioned, meaning transactions taking place on the network are only visible to the authorized members. 

Consensus Mechanism 

Ethereum leverages Proof-of-Stake(PoS) consensus in which all the nodes have to reach a consensus. Hyperledger, on the other hand, uses a different type of consensus. In this, nodes are allowed to choose between no consensus needed and an agreement protocol. For instance, the Robust Byzantine Fault Tolerance (RBFT) consensus mechanism is used in Hyperledger Indy.

Programming Languages

Smart contracts in Ethereum are written in Solidity programming language, and it is considered to be the native language of Ethereum. Hyperledger uses Golang for writing smart contracts.

Concluding Lines: Which Is The Best Among The Two?

As we have discussed all the major points of differences between the two, here comes the question: Out of these, which is the better one? 

Here it is important to note that there is no straightforward or right answer to this question, and each of these platforms has its own significance. One can use Ethereum when one wishes to come up with dApps and smart contracts for performing multiple tasks.  On the contrary, if one wishes to develop B2B applications, choose Hyperledger.

The demand for Ethereum Experts and Hyperledger Professionals is soaring. If you are planning to learn and upskill, this is the right time to invest your time and go for Blockchain Certifications.  If you want to start or revamp your career in the Blockchain space, getting enrolled in Blockchain Council can help you in doing so. 

To get instant updates about Blockchain Technology and to learn more about online Blockchain Certifications, check out Blockchain Council. 

Ethereum Vs. Hyperledger: A Comprehensive Guide

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Prepare Yourself With These Top 30 Blockchain Interview Questions 2021

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Prepare Yourself With These Top 30 Blockchain Interview Questions 2021

Want to have a career in the Blockchain space? This article talks about the top 30 interview questions to get you ready for a big interview. Excited? Let’s get started.

Table of Contents 

  • Top Interview Questions You Should be Prepared for
  • Wrapping Up: How to Learn Blockchain?

Top Interview Questions You Should Know

In this section, let’s discuss the top 30 blockchain questions and answers.

1. What is the difference between Bitcoin Blockchain and Ethereum Blockchain?

Both Bitcoin and Ethereum have decentralized distributed databases of immutable records. But Bitcoin and Ethereum differ in purpose in a way that Bitcoin is considered as an alternative digital currency that offers various advantages, whereas Ethereum is regarded as the king of smart contracts that facilitates Peer-to-Peer contracts and applications via its own currency known as ETH. Ethereum was introduced with an intent to complement rather than compete with bitcoin.

2. How is Blockchain different from traditional databases?

A database is a kind of central ledger, whereas Blockchain has a distributed ledger, which means unlike the traditional databases, it is not governed by any central server. Due to this, Blockchain is a fully confidential and robust technology.

3. What is double-spending, and how can it be stopped?

It is the process of spending a balance of that cryptocurrency more than once. It is done by fooling the network to think that the original amount is never spent, thus making it available to be used for multiple transactions. 

However, this problem can be prevented in blockchain-based cryptocurrencies by utilizing a consensus mechanism known as Proof-of-Work (PoW).

Bitcoin’s solution to deal with this crucial problem is that if the majority of the nodes agree on which transaction was first to be received, later tries to double-spend are pointless.

4. Out of the three types of Blockchain, which is the best one?

Out of public, private, and consortium Blockchain, to state which one is the best would not be right because each of has its own features, usage, and requirements. If you want to design and implement your own enterprise blockchain, a private blockchain is a one-stop solution. Consortium blockchain, on the other hand, is likely to interest organizations who want to efficiently streamline communication among one another.

Features  Public  Private  Consortium 
Accessibility  Anyone  Single Person/ Central Incharge  More than one central in-charge.
Who can join? Anyone  Permissioned and known identities Permissioned and known identities
Consensus Mechanism PoS/PoW Voting or multi-party consensus algorithm Voting or multi-party consensus algorithm
Transaction Speed  Slow  Lighter & Faster  Lighter & Faster 
Decentralization Completed Decentralized  Less Decentralized  Less Decentralized 

5 How ICO differs from IPO?

ICO stands for Initial Coin Offering, whereas IPO stands for Initial Public Offering. The first difference between an ICO and an IPO is that ICO is generally for the young and risky, whereas IPO is mainly for well-settled companies. The process of issuing also differs in both. An IPO is an extensive process that requires underwriters and lengthy evaluations to determine the market price of each share. Moreover, for an IPO, you need lawyers, banks, and patience, whereas, for ICO, one needs programmers and the Internet. 

6 Name a few popular platforms for developing Blockchain-based applications?

There are multiple platforms available but before deciding on one, understand what type of Blockchain do you need, how popular is the chosen platform, what kind of scalability does your solution need, and ensure whether your preferred blockchain platform supports smart contract functionality or not. 

Blockchain platforms enable the development of blockchain-based applications that are in great demand and useful for businesses and enterprises. A few of the top platforms for developing Blockchain-based apps are Hyperledger Fabric, Ethereum, R3 Cords, Quorum, and Ripple.

7 What do you know about the lightning network?

It is an off-chain, micropayment system designed to make transaction processing faster in the Blockchain. In Lightning Network, the members can directly interact with each other without offering anything to the miners, and members can engage in numerous microtransactions with each other. And finally, when the payment channel is locked, the concluding transaction set is added to the Blockchain.

Lightning network not only helps in scalability but also makes payments instantaneous, and transactions are not dependent on miners. The network is micropayment and multi-signature friendly and, moreover, reduces the load of the main chain and decreases waiting time.

8 Distinguish between Fungible and Non-Fungible.

  • Fungible are Interchangeable: Fungible tokens are interchangeable and can be exchanged with any other token of the equivalent kind. 
  • Non-Fungible are Non-Interchangeable: Unlike Fungible tokens, such tokens are non-interchangeable as they cannot be replaced with the non-fungible token of the same type.
  • Fungible Tokens are Uniform: Each token is different from all other tokens of the same type. 
  • Non-Fungible Ones are Unique: All tokens of each type are identical in specification, and each token is identical to the other. 
  • Fungible Tokens are Divisible: These tokens can be divisible into smaller units, and one can get any number of units, and it does not matter to holders as long as the value remains the same.
  • Non-Fungible Tokens are Non-Divisible: These tokens cannot be divided in any sense.  

9 What is Blockchain Wallet?

A blockchain wallet can be defined as a digital wallet or E-wallet that allows individuals to store, manage, and transfer their cryptocurrencies such as Bitcoin(BTC), Ethereum(ETH), and many more. With such wallets, users can manage their balances of these two cryptocurrencies by paying transaction fees that depend on various factors such as transaction size. Since digital assets or cryptocurrencies are just a number, that is why the wallet keeps the private key of any particular individual, and the private key fetches the balance of that individual from the Blockchain.

10 Explain the features of DeFi.

  • Autonomy — DeFi platforms ensure that your assets are all yours, and no one has control over them.
  • Enables affordable and faster cross border payments
  • Tradability — You can trade more efficiently as they aren’t prone to an entire high-value investment at once.
  • Accessibility: DeFi has a financial system that is accessible to everyone regardless of their location.
  • Interoperability: DeFi apps and protocols are built to integrate and complement one another.
  • Transparency — In the DeFi environment, data is available publicly, which helps keep service providers impartial.
  1. Question: What are the requirements for implementing Blockchain technology for enterprise usage?

Answer: Here are the most basic ones:

  • Is the network peer-to-peer? 
  • Does the system offer smart contract functionality for the execution of decentralized applications or not? 
  • Can data be stored permanently without compromising the security measures?
  • Does it offer decentralized data storage?
  • What are its data privacy aspects? 
  • Is the immutability ensured?

12 Question: What is blockchain mining? 

Answer: Blockchain mining is a process by which transactions of a blockchain are verified without involving any third-party. Every time a transaction is sent from a Bitcoin wallet, it is sent to the transaction pool. Miners then pick hundreds of transactions and combine them to form a block with other overheads like Merkel Root, SHA-256 Hash, Nonce, etc. 

13 List some of the top blockchain development tools. 

  • Solidity
  • Remix
  • Geth 
  • Meta Mask
  • Truffle Framework

14 What, according to you, are the key Challenges for Blockchain Adoption

  • Scalability 
  • Interoperability 
  • Energy Consumption 
  • Lack of Talent 
  • Lack of standardization 

15 What are the drawbacks of Blockchain?

It is a complex technology that is hard to understand and implement. Scalability is another issue related to Blockchain. Moreover, network speed and transaction costs vary, and human errors still persist. 

16  Is it possible in Blockchain to remove one or more blocks from the networks?

No, it is not possible to manually remove a block. However, blocks can be removed with the help of default options and filters. Deleted blocks can be re-downloaded again whenever needed.

17 Enlist key features of Blockchain technology.

Transparency– Transparency is one of the significant issues in the current industry. Although to improve it, organizations have attempted to implement more rules and regulations, but there is one thing that doesn’t make any system completely transparent,i.e., centralization. But with the help of Blockchain, organizations can go for a complete decentralized network where there is no need for a centralized authority, improving the transparency of the system.

Immutability– Blockchain is immutable, meaning nobody can modify the data over a blockchain. This feature enables companies to ensure that there is no hamper of data, making their system more functional in a highly competitive market. 

High Availability– As we already defined Blockchain as a decentralized system of peer to peer network, thus it is highly available due to the concept of decentralization. It offers decentralized services that provide unique access to the options that are otherwise unavailable.

Security– Unlike traditional databases, Blockchain provides a high level of security to its users. High security is due to the cryptographic algorithms which are being run behind the Blockchain. Rather than trusting any individual or third party, in the Blockchain, one needs to trust only cryptographic algorithms.

Fast Dealing- Traditional banking organization takes a lot of time in initiating and processing the transactions and is prone to human error and often requires a third-party intermediary. Blockchain can streamline and automate the entire process without any human intervention and with complete accuracy.

Reduced Transaction Fees- As Blockchain removes the involvement of the third party, it eliminates the overhead cost of exchanging the assets; thus, it leads to reduced transaction fees. 

18 Mention types of Consensus Algorithms?

  • 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

19 Explain how PoW consensus works.

The central principle behind PoW consensus is to solve complex mathematical problems and make the largest number of guesses as quickly as possible. Such requires a lot of computational power, and by using a more efficient mining machine to run calculations, a miner can maximize profitability in terms of crypto rewards. 

In this type of consensus mechanism, miners compete to be the first one to find a hash regarding a particular block, which can only be solved using sheer computing power to make the largest number of guesses. When a miner finds the right solution, they advertise it to the whole network, receiving a reward in cryptocurrency provided by the protocol. 

20 Explain the Concept of PoS

Proof-of-Stake is a consensus algorithm that deals with the main drawbacks of PoW. In this mechanism, every block gets validated before the network adds another block to the blockchain ledger. Unlike PoW, where miners have to solve complex puzzles, in PoS, miners can join the mining process using their coins to stake. It allows users to mine for rewards using very minimal hardware and software resources. Here, the mining capacity of a particular miner depends on how many coins they already have; thus, the more coins one has, the better chances are, which indicates only the richest can have control of the consensus. 

21 Define the term CBDC

CBDC stands for Central Bank Digital Currency, which is controlled directly by the country’s central bank and is backed by national credit and government power. 

In other words, CBDC is an electronic form of central bank money that can be used to store value and make digital payments seamlessly.

22 What is DeFi technology? Explain the term, DeFi Pulse 

Decentralized Finance can be defined as financial services using smart contracts that don’t need any central authority and uses decentralized, distributed ledger technology, Blockchain. Most of the DeFi protocols are based on the Ethereum Blockchain network. 

DeFi Pulse is a data site that lets individuals find the latest analytics and rankings of all DeFi protocols. Pulse rankings track the total value that is locked into the smart contracts of DeFi protocols so that individuals can stay up to date on the latest trends.

23 What is Hyperledger Fabric? 

Hyperledger Fabric is a distributed ledger platform that comes with versatility, modularity, and performance specially crafted to provide enterprise-grade solutions. It is an open-source enterprise-grade permissioned DLT platform known to provide modularity and versatility for a broad set of industry use cases, including banking, insurance, healthcare, supply chain, human resources, etc.

24 What are Smart Contracts? What are its benefits?

A smart contract is used to describe computer code that can facilitate the exchange of money, content, shares, or anything of value. When running on the Blockchain, smart contracts becomes like a self-operating computer program that executes automatically when desired conditions are met. Since such contracts run on the Blockchain, they run exactly as programmed, without any possibility of censorship, downtime, fraud, or any third-party interference. 

  • No intermediaries ensure a quick transaction process
  • Secure and Efficient
  • No Middleman, more savings 
  • Works with accuracy and precision 
  • Establish confidence
  • Automation saves time and effort. 

25 What are dApps? Mention some of the popular dApps.

Decentralized applications (dApps) are digital applications that exist and run on a peer to peer network of computers instead of a single computer. 

Some of the dApps that are popular, innovative, and feature-rich are:

  • Cipher
  • Chainlink 
  • EOS Dynasty
  • TraceDonate 
  • Brave  

26 Explain the role of Blockchain in Governance

Due to increased decentralization, data integrity, and transparency, along with better efficiency and reduced operational costs, blockchains are becoming popular in governance. From improving transparency to streamlining the tax collection mechanism, Blockchain distributed networks can help governments to operate more efficiently and build higher levels of trust among their citizens. 

27 Mention some of the myths related to Blockchain. 

  • Blockchain and Cryptocurrencies are the same. 
  • All blockchains are public blockchains.
  • Technology only targets the finance domain. 
  • Blockchain is just a database.
  • Blockchain is free and highly accessible. 

28 Are there any restrictions for putting records in Blockchain?

No, there is no such restriction. One can store any kind of record, depending upon their requirements. The most common type of records that are recorded in Blockchain are records of transaction processing, identity management, business transactions, health management data, and all other crucial documentation.

29 Is Blockchain a trusted approach?

Blockchain is undoubtedly a trustable technology that helps participating parties to share their valuable data in a secure and tamper-proof manner. It makes use of cryptography for securing crucial information, thus making it extremely hard for attackers to play with stored data. Due to its high potential to provide security, it is widely adopted and implemented by various organizations and businesses for their operations.

30 What do you know about the future of Blockchain?

Blockchain is likely to discover a whole new way of economic transactions and contribute to global economic development immensely. Although its mainstream adoption is yet to be achieved, once it is done, it will change the way businesses operate and transform the landscape of the technology sector forever.

Wrapping Up: How to Learn Blockchain?

We hope all the questions mentioned above will help you get ready for your interview.

If you are a beginner and want to get started with Blockchain, Blockchain Council can assist you. Whether you want to become a Blockchain Developer or an Expert, or an Architect, Blockchain Council can be your one-stop solution. Blockchain Council is a globally renowned organization with an authoritative group of subject experts and enthusiasts who are evangelizing Blockchain research and development, use cases and products and knowledge for a better world. 

All Blockchain certifications offered by Blockchain Council are meant for a duration of roughly 6-8 hours and to be completed as self-paced training. 

Getting certified will help you gain an in-depth understanding of Blockchain & its implementation and prove your Blockchain skills & understanding.

To get instant updates about Blockchain Technology and to learn more about online Blockchain Certifications, check out Blockchain Council.

Prepare Yourself With These Top 30 Blockchain Interview Questions 2021

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