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Blockchain Transaction Tested on GOMX-4 Constellation

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Blockchain Transaction Tested on GOMX-4 Constellation

According to the latest announcement, JP Morgan, an American multinational investment bank headquartered in New York City, has tested a transaction of Blockchain in space. This Blockchain transaction testing is carried out by a Danish space firm named GomSpace’s satellites.

It was reported by GomSpace that it is the world’s very first bank-led tokenized value transfer in space, executed through smart contracts on a blockchain, established between satellites orbiting the earth.

Talking about GomSpace, it is a space company that aims to be engaged for space systems and services in the global market by introducing new products depending on innovation within professional nanosatellites. 

Blockchain is a peer-to-peer, decentralized distributed ledger technology that records data in individual blocks linked to one another using cryptography. This technology is known to offer immutability, transparency, security, and privacy. 

This Discovery Opens the Opportunity to a Potential P2P Satellite Marketplace

The report announced that a Blockchain transaction was executed between two GOMX-4 satellites in the low Earth orbit (LEO), which validated the approach towards a decentralized network where communication with the earth is not required.

As private companies prepare to launch their own constellations, the report mentions that in the long term, this discovery opens the opportunity to a potential P2P satellite marketplace, allowing data transfers between satellites against payment. 

GomSpace CEO Niels Buus expressed his views regarding his team’s support for J.P. Morgan. According to Buus, he is glad to have supported them as they explored this novel use case of a space-based payment infrastructure by implementing blockchain technology.

Blockchain Era has Begun 

Gone are the days when Blockchain technology was confined to finance and cryptocurrency. Today, this technology’s potential and relevance in other areas of business are coming under the limelight. Last year in July 2020, it was announced that the first use of Blockchain in renewable energy happened in Australia.

Apart from this, recently, it was announced that Twitter has considered whether to add bitcoin to its balance sheet. 

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

Blockchain Transaction Tested on GOMX-4 Constellation

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Enterprise meets DeFi: Organizations work toward adopting blockchain tech

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Decentralized finance is quickly maturing. While the total value locked in DeFi is over $45 billion, financial institutions and large corporations are starting to implement DeFi concepts to automate business processes. This is known as “enterprise DeFi.”

For instance, invoices and other financial products can be tokenized to ensure that transactions are valid and should be processed for payment across multiple parties. Coke One North America is one of the first large corporations to demonstrate this.

CONA is leveraging the Baseline Protocol — a project that coordinates confidential workflows between enterprises using messaging, zero-knowledge cryptography and blockchain — to tokenize invoices. CONA aims to “baseline” its entire supply chain by giving internal bottlers and external suppliers access to a private, distributed integration network.

Through use cases like CONA, such solutions are quickly gaining traction. There are also a number of vendors entering this infrastructure market including Provide, an enterprise middleware provider, and Big Four firm Ernst & Young. Most recently, ConsenSys — one of the leading blockchain software companies — announced plans to use Baseline Protocol as a solution for its enterprise clients, further demonstrating the importance of enterprise DeFi adoption.

How ConsenSys plans to drive enterprise DeFi

Specifically, ConsenSys Codefi — ConsenSys’ fintech suite that connects financial use cases to blockchain counterparts — will soon offer a baseline-compliant solution for its enterprise clients.

Didier Le Floch, institutional products and engineering lead at ConsenSys Codefi, told Cointelegraph that while the Baseline Protocol was developed by EY, ConsenSys and Microsoft, Codefi has been taking steps to ensure that its products will eventually be fully compatible with it:

“We want to enable the use of digital assets and the financing of those assets for payment use cases. These use cases will generate maximum business value, combining automation of business processes and payments using things like stablecoins, for example.”

In order to achieve this, Floch explained that the Codefi tech stack will be combined with the Baseline Protocol to deliver an effortless user experience for cases such as financing supply chains. Floch remarked that this is a first step in the right direction, as Codefi strongly believes that the enterprise sector will soon converge with the DeFi market: “There will be ebbs and flows, and it will be a journey with various steps, but we’ve already seen the promise of this convergence in the DeFi market.”

To his point, MakerDAO — the protocol behind the stablecoin Dai — announced support in June 2020 to use non-crypto-native assets, such as invoices and music streaming royalties, as collateral for its Dai stablecoin. Maker also voted to support a protocol from blockchain startup Centrifuge to bring real-world assets on its platform. Known as “Centrifuge Chain,” this is built on Parity’s blockchain development framework, Substrate.

Asset originators can use the Centrifuge Chain to mint nonfungible tokens of real-world assets, converting them to ERC-721 tokens. These assets can then be added to Tinlake, which is Centrifuge’s Ethereum-based DeFi protocol for decentralized asset financing.

A Centrifuge spokesperson told Cointelegraph that the company is currently working with MakerDAO to bring New Silver, an online real-estate lender, on to the Maker platform as an asset originator. As such, NewSilver would be the first asset originator using Tinlake to get to the MakerDAO executive vote, ultimately allowing asset originators to generate Dai as a credit facility.

DeFi protocol Aave also introduced a diversified money market to support real-world assets back in October 2020. According to the Aave blog post, this money market would make it easy for the Aave community to onboard real-world assets into the protocol, allowing investors to lend against assets, such as invoices, real estate and inventory finance. “Right now, it’s at a small scale, but there are DeFi lending protocols already taking steps to incorporate real-world assets into their protocols,” said Floch.

Breaking down barriers hampering adoption

Many enterprise DeFi concepts are still in early development, as a number of barriers exist. For instance, there are concerns regarding publicly available sources to determine the price of collateralized assets. Furthermore, many DeFi protocols venturing into the enterprise space only allow solutions for borrowing in crypto, which may be unappealing to mainstream organizations. Moreover, paying transaction fees in cryptocurrency may also be problematic for enterprises that typically deal in fiat payments.

Floch explained that Codefi’s use of Baseline Protocol is intended to address these concerns. For example, he noted that there will be an “Infura ITX” integration that will enable corporations to pay gas fees in dollars rather than Ether (ETH) when using the Baseline Protocol. Since the platform leverages the Ethereum network as its mainnet of choice, or as a common frame of reference for complex workflows, this integration will ensure a better user experience overall.

In addition, Floch mentioned that ConsenSys’ open-source zero-knowledge proof library, known as “gnark,” will be leveraged to ensure enterprise data remains private, yet verifiable.

While notable, Codefi’s implementation of the Baseline Protocol isn’t the only solution intended to solve the challenges related to enterprise DeFi adoption.

For example, EY has been heavily involved in the blockchain space, specifically in terms of enterprise DeFi development. Paul Brody, global blockchain lead at EY, told Cointelegraph that the firm has been working on DeFi enabling solutions since 2016, with the goal of making the inputs and outputs of enterprise business processes tokenized and then transactable:

“This means purchase orders, invoices, receivables, inventory — everything in traditional business-to-business processes should be ready to integrate into a DeFi ecosystem.”

Of course, Brody is aware of the challenges regarding this vision, noting that the first element to be tackled is achieving an acceptable level of privacy for enterprise users. Once this is accomplished, Brody explained that necessary standards need to be established where bodies, such as the Enterprise Ethereum Association, can be key partners in the pursuit of these goals.

Brody further mentioned that as an industry auditor, EY will not be offering financial services involving DeFi. Rather, the firm is devoted to ensuring that enterprise clients will be able to plug their business operations into existing DeFi solutions. For example, Brody explained that EY’s Network Procurement solution is designed to manage purchase orders and fulfillment, which would allow enterprises to exchange tokens for purchase orders, contracts, invoices and inventory transfers. “As soon as we see standards we can leverage, we hope that our enterprise users will be able to take advantage of these markets,” said Brody.

Institutions show interest in DeFi?

In addition to a growing number of enterprise DeFi solutions in development, there is now interest in DeFi from large organizations and financial institutions. This was recently demonstrated by the leading digital currency asset manager, Grayscale. On Feb. 26, 2021, the firm announced consideration to offer investors access to DeFi assets, including Aave, Compound’s COMP, MakerDAO’s MKR, Reserve Rights (RSR), SushiSwap’s SUSHI, Synthetix Network Token (SNX), Uniswap’s UNI and Yearn.finance’s YFI.

Although this is separate from enterprises using DeFi protocols to find real-world assets, Floch noted that this demonstrates more institutional players are ready to invest in prominent DeFi protocols:

“For institutional customers of Grayscale to start investing in those tokens is definitely a sign that they’re getting more comfortable with Defi, while understanding the value of those protocols (asset management, collateralized lending and trading automated in smart contracts).”

Enterprise meets DeFi: Organizations work toward adopting blockchain tech

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Blockchain Developer: Responsibilities, Skills, Salaries, and Tips to Become One

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Blockchain Developer Responsibilities, Skills, Salaries, and Tips to Become One

Are you a Blockchain enthusiast? Want to become a Blockchain Developer and upskill? You have landed on the right page. This article talks about the responsibilities, qualifications, salaries of a Blockchain developer and teaches how to become a successful developer.

Table of Contents 

  • Who is a Blockchain Developer?
  • What are the Roles and Responsibilities of a Blockchain Developer?
  • What are Skill Sets Required?
  • How Much They Get Earned?
  • Concluding Lines: How to Become One?

Who is a Blockchain Developer?

A Blockchain Developer is one who understands Blockchain technology profoundly and can build Blockchain-based applications. He/she specialize in creating and implementing technical solutions for organizations with Blockchain Technology. 

What are the Roles and Responsibilities of a Blockchain Developer?

The key responsibility of a developer is to analyze requirements, design secure blockchain technologies, develop application’s functionalities and finally build and launch a blockchain network.

Apart from this, their other responsibilities include:

  • Blockchain Developers need to collaborate with managers and engineering teams in order to understand the requirements and envision functionalities.
  • Brainstorm and help create application features and interfaces with new tools and technologies using programming languages.
  • Create and build infrastructure, and apply the latest security measures to protect digital transaction data against cyberattacks and other malpractices.
  • Maintain and extend current client-side and server-side applications.
  • Optimize and secure blockchain-based applications by integrating the latest tools and technologies.
  • Documenting the entire blockchain development processes. Document new solutions as well as existing ones.

What are the Skill Sets Required?

Now, as we have understood who is a Blockchain developer and what are their roles and responsibilities, let’s have a look at the skill sets required to become one. 

Blockchain Fundamentals

In order to become a successful Blockchain professional, one needs to understand and learn what its fundamentals are. Blockchain fundamentals include understanding how the technology works, its benefits and use-cases, what are smart contracts, concepts of networking, cryptography, etc.

Extensive Knowledge of Data Structures and Programming Languages

Since Blockchain has a complex structure, it is essential to understand and learn data structures

along with advanced cryptography for building a secure and immutable system. Also, one should consider learning a few programming languages such as Java, Solidity, C++, Python, JavaScript, Ruby, C#, etc.

In-depth Understanding of Blockchain Architecture

A Developer must have an excellent understanding of the working of a Blockchain and its architecture. Right from understanding its architecture basics to understanding the tools required, one must gain an in-depth understanding of everything related to Blockchain architecture.

Learn Blockchain Security 

One must gain a thorough understanding of Merkle Tree, cryptographic hashing, private key, and public-key cryptography, and much more. Learn about Blockchain’s inherent security features and associated risk, and understand the best security practices for Blockchain infrastructure. In order to become a Blockchain developer, one must know how to mitigate Blockchain security risk.

How Much They Get Earned?

The salaries of Blockchain professionals are skyrocketing. In fact, it is the most demanding skill at present. But to earn high salaries, it is important to have the right skills in the Blockchain space. Other factors that contribute to salary are how much experience one holds and their job location. Blockchain Council, a globally-recognized online platform known for imparting world-class training in Blockchain space 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.

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 for a Blockchain Developer is £50,137 in London, UK.

Concluding Lines: How to Become One?

Becoming a professional in this domain has become much simpler now, all thanks to tons of online learning material. If you are planning to start a career in the Blockchain space, now is the perfect time to get into Blockchain development.

Backed by the extensive practical-based sessions, Blockchain Council offers online training and certifications to aspiring trainees to render the desired competence to have a successful career in the Blockchain space. Blockchain Council offers the most in-demand certification, specifically in the crypto and blockchain field. It is one of the most renowned names for certifications & training in Blockchain and related fields worldwide.

So what are you waiting for? Get enrolled in Blockchain Council and become a Certified Blockchain Developer today!

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

Blockchain Developer: Responsibilities, Skills, Salaries, and Tips to Become One

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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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Kickstart Your Career in Blockchain Space: List of Best Specialization Courses in 2021

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Kickstart Your Career in Blockchain Space List of Best Blockchain Specialization Courses in 2021

2020 has been a year of Blockchain. The high package salaries of such professionals indicate that this technology is no more a new buzzword. Tech giants and enterprises have started adopting technology, and for that, they are hiring skilled professionals. The major reason why jobs in this domain are paid so highly is because this space is young, and people with any experience in the space are rarely few.

If you are looking for the most-demanding certifications in this space, you have landed on the right page. This article includes the details of the most popular, top-rated specialization courses ideal for beginners and professionals looking forward to pursuing a professional career in this domain.

Best Specialization Courses to Become a Blockchain Professional in 2021

With any further delay, let’s enlist the best specialization courses that will help you acquire a futuristic career in 2021.

This is another comprehensive online course and training program to become a Certified Professional in law domain. This particular training is primarily directed to guide an individual in creating solutions that can influence all the aspects of the law and deals with the assimilation of knowledge on how technology can be leveraged to speed up and streamline the process of tracing digital documents for evidence and automate the agreement process using smart contracts. You’ll be benefitted from:
complete fundamentals of DLT

  • its advantages in law
  • its use-cases such as Chain of Custody, Litigation, and Settlements, and much more.

As technology poses incredible benefits to HR professionals in talent management, verifying the accreditation of potential hires, safeguarding employee health records, and performance evaluation, this certification is in huge demand. Tech giants and organizations are looking for skilled HR professionals who understand this technology profoundly. 

This is another comprehensive and hands-on course to learn this technology in the HR domain. The course provides a complete overview of this technology, technology’s impact on human resources, and its varying use-cases. It educates learners to gain an accurate picture of the employees’ overall performance and business, in general, using this futuristic technology. The best thing about this specialization course is that it covers almost every vital concept needed to become a pro in this particular sector. 

This is a globally acknowledged certification that helps learners to gain an in-depth understanding of the Blockchain for KYC Procedure and implement skills to optimize KYC Procedure. After completing this course, you will be able to implement Blockchain’s understanding to speed up and simplify the process of digital identity verification, cross-border payments and to identify frauds in banking and other financial sectors. Acquiring this certification in your resume of the LinkedIn profile will help you showcase your skills and experience.

Informative and well-structured, the course is ideal for all those whose interest revolves around digital marketing. 

This is a unique training and certification specially designed to demonstrate how this technology can revolutionize digital marketing. This course covers all its fundamentals such as blocks, wallets, and addresses, public and private keys, Merkle Tree, and hashing, cryptography and algorithms, and much more. Moreover, it teaches how digital marketing will benefit from this technology and its various use-cases. The course will render expertise on eliminating digital marketing middlemen, eliminating online ad fraud, building trust, and transparency while giving customers full control of their information with the use of DLT.

This Digital Marketing Professional training will prove your USP and act as a catalyst to accelerate your career growth.

Through this outstanding course, you will be able to learn how DLT has the power to bring about a major breakthrough in the healthcare industry, especially in terms of Health Information Exchange, by improving data integrity, regulatory compliance, and privacy. The course details various problem statements such as Drug Counterfeiting, Clinical Trials, and Healthcare Records Management, focusing on technology fundamentals and its various use-cases in the healthcare domain. The course will help you learn about healthcare business needs, technology’s role in healthcare, and how to build DLT-based healthcare systems.

Although anyone can avail this certification, this is best suited for system administrators, architects, developers, network security architects, cybersecurity experts, and IT professionals.

This certification aims at imparting a complete understanding of Blockchain’s inherent security features and associated risk, in-depth knowledge of best security practices for DLT infrastructure, exploration of known cyber-attacks, ability to differentiate between various cyber-attacks and threats, and teaching how to transfer or mitigate security risk.

This program will solidify your basics and advance your knowledge in the featured topics and make you capable enough to handle relevant complex issues. This course enables you to implement your skills in any applications and build your own Blockchain enterprise with acquired knowledge. 

We all know that DLT has its implications in the supply chain domain for a long time. At present, the demand for DLT-based supply chain experts is surging. Such experts implement the understanding of Blockchain to increase revenues and decrease costs while improving overall quality.

This certification will offer you an in-depth understanding of the mechanism for blockchain technology functioning that will help you integrate this technology with supply chain management. By the end of the course, you will be able to create solutions that can impact all the facets of the Supply Chain.

This training is primarily directed to guide an individual in creating solutions that can influence all aspects of finance and deals with the assimilation of knowledge on how this technology can be leveraged to speed up and streamline the procedure of cross border payments and to reduce the cost undoubtedly.

Here are the key things you will learn in this program:

  • Overview of financial management and challenges in the financial system 
  • Understand the core concepts of technology and its ecosystem
  • Role of this technology in Financial System 
  • Vendor Perspective about Blockchain and its advantages in finance services
  • Use-cases including cross border payments, syndicate lending, digital identity verification, and trade finance 

Concluding Lines 

The Blockchain Specialization courses mentioned above are crafted by Industry Experts to make the scholars efficient in handling the different verticals of blockchain technologies. The best part about these courses is that they require no prior knowledge. After completing, learners will be proficient enough to engage with business executives and offer practical solutions for their specific needs. 

Blockchain Council gives you an opportunity to learn from top experts around the world, and courses are uniquely curated for professionals by premiers of multifarious industries. These are self-paced training ranging from 4 hours to 6 hours that require your attentiveness. It is as easy as it sounds.

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

Kickstart Your Career in Blockchain Space: List of Best Specialization Courses in 2021

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How Blockchain technology offers improvements to payments security

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Codezeros

Blockchain is disrupting industries like Fintech, Agriculture, Supply Chain Management, Pharmaceuticals, and Real Estate Registry. It has found unique solutions to some of the most pressing concerns of modern time. With the advent of big data and analytics, blockchain also provides pioneering solutions in data management.

The first and foremost application was found in the payments industry, with the introduction of cryptocurrencies, making them faster and more secure. In this article, we will look at how blockchain structure and Blockchain Payment Gateways can help make our payments secure.

Blockchain can be described as a living ledger with a network of peers who participate and monitor the assets and their transfers. They individually hold all the data of the blockchain but are collectively responsible for approving transactions. Data once approved is immutable and disincentives are present for shady or unscrupulous practices. This decentralized system has improved the efficiency, reliability, and security of countless industries.

Cryptocurrencies were the first application of blockchain technology, bitcoin, being the first of its kind. Any transaction or modification is accessible by all the users on the public ledger, adding a level of security. Just like fiat currencies issued by Central Banks, cryptocurrencies have all the properties: scarcity, fungibility, and non-repudiation but are not issued by a central authority. Instead, bitcoins are mined by solving complex mathematical puzzles related to the stamping of a transaction. Moreover, as this solution is impossible to falsify, it makes the complete architecture secure and very easy to verify.

The PCI (Payment Card Industry) Security Standards Council, a global forum created by leading payment networks such as American Express, Visa, and the likes believe that the payment industry is seldom prepared for changes. It works reactively to new threats and all-new payment method implementations are vulnerable to more modern attacks. For example, all critical payments information including credit card numbers, currently pass through the merchant’s payment systems and become the potential place for security breaches. A Blockchain Payment Gateway Development has the potential to eliminate this shortcoming.

Cryptocurrency is already accepted by a plethora of merchants and its usage is witnessing an upward trend. Consultants at PCI state that cryptocurrencies challenge these traditional approaches to privacy, trust, and security by its decentralized structure.

So far, centralized systems have controlled how payments are executed and users upheld their trust in the central institutions responsible for privacy and security. On the other hand, a cryptocurrency functions not on trust but on the integrity of the underlying algorithms governing the structure.

Every node holds a copy of the ledger and the protocol is governed by an MIT license open-source software. It uses a number of public security primitives and data structures that are well established. These include but are not limited to SHA256 hashes, Merkle trees, and Elliptic Curve Asymmetric Cryptography.

A group of transactions are used to form a block and this block is assigned a unique SHA256 hash. The subsequent block holds this hash key from the previous block and the cycle continues. This exercise links all the blocks to each other and forms a chain, which is known as a blockchain. Hence, it becomes impossible to modify a transaction once it has entered a block.

Firstly, cryptocurrencies provide an alternative to the current payment systems and highlight the flaws in the latter. Secondly, it provides a strong underlying architecture which can be used by Blockchain Development Companies to prepare future payment gateways and enhance security.

Cryptocurrencies are legal in most countries and with better regulations, its mainstream application can be witnessed pretty soon. The costs associated with cryptocurrencies to send and receive money are negligible compared to the current charges levied by card issuers, banks, and other intermediaries. Removal of intermediaries would also lead to shorter execution time and reduced risk of security breaches. A Blockchain Payment App Development would leverage all these benefits and provide a fool-proof, secure, inexpensive, and fast way to make payments.

Blockchain has the potential to acquire a huge market in the micropayments industry. Payment networks levy heavy charges in the form of a fixed + variable fee which goes exorbitantly high while handling very small payments.

The payments industry has seen major overhauls but struggled to keep pace with the growing internet and payment demands. Payment security is a big concern, especially when money is sent across borders and involves an exchange. In such a scenario, information passes through multiple processors and increases the likelihood of a data breach. A Blockchain Technology Payment Security offers the perfect solution through its decentralized system, thereby reducing intermediaries, costs, and risks in executing payments.

How Blockchain technology offers improvements to payments security

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