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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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Graph Protocol has Integrated Polkadot, NEAR, Solana, Celo, and Plans to Expand Other Layer 1 Blockchains

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Graph Protocol has Integrated Polkadot, NEAR, Solana, Celo, and Plans to Expand Other Layer 1 Blockchains

According to the latest announcement, Graph protocol is considering integrating Polkadot, NEAR, Solana, and Celo. 

After a successful mainnet launch on Ethereum in December, it is now planning to integrate additional Layer-1 Blockchains, including Bitcoin. Also, it was reported that it recently integrated with some of the Decentralized Finance(DeFi) protocols such as Uniswap, AAVE, Decentraland, Gnosis, Balancer, and Synthetix.

The Graph is a protocol that enables developers to build APIs, called subgraphs, that can query and index Blockchain data. It aims to offer an infrastructure for accessing on-chain data from various Blockchains, with the broader purpose of promoting collaboration and interoperability across the decentralized web.

It was noted that Graph already supports various Blockchains such as Ethereum, IPFS, and POA, and InterPlanetary File System. 

Graph Aims to Support All Layer 1 Blockchains and Become Acceptable Indexing and Query Solution

Graph launched its mainnet on Dec. 17, 2020, allowing developers to search, index, use and publish data from public Blockchains. Its primary goal is to allow Blockchain Developers to access on-chain data and build dApps quickly. 

As Graph network has already integrated various Blockchains and plans to support all Layer-1 Blockchains as well, it was noted that Ethereum will continue to be the standard for the Graph and its native token, Graph Token (GRT).

In December 2020, when the Graph launched its Mainnet, UniSwap founder Hayden Adams expressed his views regarding using the project. 

He mentioned that the Graph had done great work in making smart contract data easy to monitor and use. 

He believes that the design of the new system will help more developers to build their own subgraphs, leading to much better access to information. 

Eva Beylin, the Director at Graph Network, expressed her views and talked about supporting many chains so that developers can build dApps and accelerate Web3 adoption. The report suggests that Beylin has underlined the need to work toward making Web 3.0 as developer-friendly as Web 2.0. 

She further explained that developers have the ability to choose whichever chain depending on their needs, and Graph protocol will also help current Ethereum developers build interoperable applications.

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

Graph Protocol has Integrated Polkadot, NEAR, Solana, Celo, and Plans to Expand Other Layer 1 Blockchains

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BNB price surges as Binance Smart Chain grows in popularity with DeFi

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Binance Coin (BNB) has been on an absolute tear in the month of February. It traded at $48.93 on Feb. 1 and grew to trade at $304 at the time of publication, amounting to a 521% month-to-date gain and 707% year-to-date gain.

This price rally has led BNB to become the third-largest cryptocurrency, with a $46.5 billion market capitalization. BNB achieved its all-time high of $342.88 on Feb. 19. This price rally and leap in market capitalization could be attributed to Binance Smart Chain gaining popularity within decentralized finance markets and other macroeconomic factors driving the growth of flagship assets like Bitcoin (BTC) and Ether (ETH) to new all-time highs this week.

While Ether price was rallying to it’s all time highs on Feb. 19, Binance announced on Twitter that they have “ temporarily suspended” withdrawals of Ether and all Ethereum based tokens due to a “congestion issue.” This led to the users not able to trade these tokens for around an hour and left the community speculating what actually happened. This pause led BNB to rise by another $60 in that time while Ether staggered around the same range.

Binance Smart Chain is the main driver?

Apart from macroeconomic factors such as the price of BTC and ETH reaching all-time highs this week, spilling over to drive up the price of BNB, Binance Smart Chain also has been gaining significant traction among the crypto community. BSC was launched in September 2020 and acts as a parallel blockchain to Binance Chain while enabling smart contract functionality and the staking mechanism of BNB, which powers Binance Chain as its native token.

Cointelegraph discussed this further with a spokesperson from Binance, who elaborated on the unique benefits that BSC offers users, saying:

“BSC offers a high-performance and low-fee blockchain network that’s compatible with the Ethereum Virtual Machine. Developers can worry less about transaction fees and focus more on innovating, while using all of the existing developer tooling they are familiar with in the Ethereum ecosystem.”

The entire Binance ecosystem is powered by BSC. Being a global cryptocurrency exchange with extremely high user traffic, it’s highly essential for scalability and low transaction fees to go hand in hand with the BSC ecosystem. BSC is now being used extensively by various DeFi protocols, with the latest to leave Ethereum for the blockchain being multiservice platform Value DeFi and yield aggregator Harvest Finance, which cited cross-chain yield farming as the prime reason for the shift.

The influence of BSC has extended to various DeFi protocols. Venus, an algorithmic money market and synthetic stablecoin protocol designed specifically for BSC, saw the price of its Venus Token (XVS) surge over 750% after it was launched on Binance Smart Chain, from a low of $10.04 on Feb. 2 to an all-time high of $95.90 on Feb. 20. 

Another prominent DeFi protocol on BSC is PancakeSwap, which went on to become the first billion-dollar project on the blockchain. It quickly doubled that to pass $2 billion in market capitalization, owing to the growth of its food-themed token, CAKE. Data from Cointelegraph Markets indicates that the price of the CAKE has surged 973% from a low of $1.89 on Feb. 3 to its all-time high of $20.33 on Feb. 19.

Speaking with Cointelegraph, Ilia Maksimenka, CEO of PlasmaPay — a DeFi investment platform — indicated that PancakeSwap could be one of the main reasons for BNB’s price rally:

“PancakeSwap traded over $400 million in daily volume and briefly became the world’s second-largest DEX. Its [BSC’s] unique propositions of a lottery service and a non-fungible token art platform have furthered PancakeSwap’s use cases.”

BSC gaining amid high Ethereum fees

Another reason for the popularity of BSC is the lower transaction fees when compared with Ethereum, which in its state of high demand sidelines retail investors in the DeFi markets, tailoring it more for whales. While Eth2 proposes to sort the transaction fees issue through its scalability solutions, currently there is a lot of congestion on the network due to the increasing popularity of DeFi protocols, leading to high gas fees for all transactions on the Ethereum network.

William Quigley, cryptocurrency fund manager at Magnetic Capital — a crypto-focused investment firm — told Cointelegraph that BNB’s rise comes down to the congestion on the Ethereum blockchain, adding: “Ethereum has an Uber-like surge pricing mechanism. When demand on the chain is high, the price to quickly process a transaction goes up.”

On Feb. 18, BSC recorded 2.5 million transactions on its network, compared with 1.3 million transactions on Ethereum. The Binance spokesperson explained to Cointelegraph why this might be the case:

“BSC daily transaction volume is up by 300% from YTD and bolsters an ecosystem of 100+ DeFi projects. Furthermore, the platform has succeeded in maintaining GAS costs as low as $0.04. Compared to Ethereum’s $5.53, BSC is 135 times less expensive!”

While Eth2’s phased launch promises speed in its proposed roadmap, history suggests that these launches often miss the deadline, with no clarity of when the actual updates will be done. Since Ethereum will take time to implement its scaling solutions, which should eventually reduce the gas fees on the network, until that point, blockchains like BSC stand to benefit the most from its delays.

The network speed of Ethereum compared with BSC could also be one of the reasons that DeFi protocols are migrating to BSC, as it is comparatively faster. BSC allows 300 transactions per second, while Ethereum, despite its higher transaction fees, can only process 15 transactions per second.

Blockchain disruption

Lower transaction fees and network speed might not be the only reasons that some DeFi protocols are migrating to BSC. The fact that BSC is 100% compatible with DeFi’s flagship blockchain, Ethereum — which allows protocols to deploy their application on top of BSC with no additional changes — is a design victory for Binance. The Binance spokesperson further spoke on some of the other reasons:

“Feedback we have heard is the DeFi protocols are increasingly chain agnostic. The rapid growth of BSC shows the users prefer lower transaction fees. BSC also provides a variety of assets, many of which are not available on DeFi protocols on Ethereum.”

Although various other blockchains like Cardano and Polkadot are trying to break Ethereum’s hegemony in the DeFi and NFT markets, none have quite achieved success at the rapid rate Binance Smart Chain is now witnessing. Disruptive blockchain innovation is bound to push the industry forward by challenging the status quo and pushing blockchain developers to focus on building universal, well-connected blockchains.

Related: DEXs becoming unusable? How to navigate record gas fees ahead of Eth2

Billy Adams, head of ecosystem development at XinFin — an open-source hybrid blockchain platform — told Cointelegraph that he believes blockchains like BSC are beneficial for the entire ecosystem:

“The market is demonstrating an appetite for emerging DeFi solutions, which can provide investor protection, sufficient liquidity for MSMEs and support interoperability between both other blockchains and legacy systems.”

BNB price surges as Binance Smart Chain grows in popularity with DeFi

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Top 30 Hyperledger Interview Questions for 2021

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Top 30 Hyperledger Interview Questions for 2021

Are you planning to prepare yourself for Hyperledger interviews and become a successful Hyperledger Expert? You have landed on the right page. This article talks about the top interview questions so that you can mentally prepare answers for them.

Excited? So let’s get started.

Table of Contents 

  • Top Hyperledger Questions You Should be Prepared for 
  • Concluding Lines: How to Learn and Become a Certified Hyperledger Professional 

Top Hyperledger Questions You Should be Prepared for 

  • What is Hyperledger?

It is an open-source global collaboration that helps in creating and developing enterprise-grade and distributed ledger frameworks to support business transactions and to advance cross-industry blockchain technologies, hosted by the Linux Foundation.

  • Is Hyperledger public or private?

It is a private blockchain. 

  • Enlist projects under the Hyperledger umbrella?

Hyperledger Fabric, Hyperledger Indy, Hyperledger Burrow, Hyperledger Iroha, Hyperledger Sawtooth, Hyperledger Besu, Hyperledger Caliper, Hyperledger Cello, Hyperledger Explorer, Hyperledger Avalon, Hyperledger Quilt, Hyperledger Ursa, Hyperledger Aries, Hyperledger Transact, and Hyperledger Grid. 

  • What are the major goals of Hyperledger?

  • The main aim of this technology is to create an enterprise-grade, open-source, distributed ledger framework to improve business transactions.
  • Next is to provide a community-driven, open infrastructure that is supported by technical and business governance. 
  • It aims at educating the crowd about the market opportunity for blockchain technology.

  • Distinguish between Hyperledger and Ethereum.

The major difference is that Ethereum is a public blockchain, whereas Hyperledger is permissioned and private. It is designed to create an enterprise-grade, open-source, distributed ledger framework to improve business transactions. Ethereum, on the other hand, runs the Smart Contracts on the EVM for applications that are attributed to being decentralized and are for mass consumption. Hyperledger is for a B2B business, whereas Ethereum is a B2C business. Another difference is that Ethereum utilizes Solidity programming language, whereas Hyperledger utilizes Golang. 

  • What is Hyperledger Fabric?

Fabric is one of the blockchain projects within Hyperledger that has a ledger, uses smart contracts, and offers a system by which participants can manage their transactions like other blockchain projects. It has a private and permissioned network whose modular architecture maximizes blockchain privacy, flexibility and eases decision-making capabilities.

  • What is Hyperledger Sawtooth?

Sawtooth is an open-source platform, a blockchain suit for developing, running, and creating new distributed ledgers. Sawtooth’s architecture is believed to be flexible and modular. It separates the core system from the application domain so that smart contracts can specify the business rules without needing to know the underlying design. This project aims at keeping ledgers distributed and making smart contracts safe for enterprise use.

  • What is Hyperledger Indy?

Like other Hyperledger projects, Indy is also a distributed ledger that comes with reusable components along with several tools and libraries, explicitly designed for identity-based solutions. It is a group of tools, libraries, and further components for digital identities rooted in blockchains.

As it offers an identity-based solution, that means one will have complete control over their identity, and no one can control it. This project is interoperable with other blockchains and also can be used standalone, powering the decentralization of identity.

  • What is Hyperledger Iroha?

Iroha is a distributed ledger software that offers varieties of libraries for developers, provides role-based access control, offers simple deployment and maintenance, and works on improving reliability, performance, and usability. 

  • What is a Hyperledger Quilt?

It is a Java implementation of the Interledger protocol. This project enables crypto and fiat payments across any payment network. It provides an implementation of all core primitives required to send and receive payments in a ledger-agnostic style. 

  • What is the Hyperledger Transact?

Hyperledger Transact is a library that aims to reduce the development effort in writing distributed ledger software by providing a standard interface that let’s execute smart contracts, including all aspects of scheduling, transaction dispatch, and state management.

  • What is Hyperledger Besu?

It is an open-source Ethereum client developed under the license of Apache 2.0 and uses java programming language. Besu is an enterprise-focused initiative that can be run on either of the networks, i.e., public and private permissioned networks, along with test networks such as Rinkeby, Gorli, and Ropsten.

  • What do you know about Hyperledger Fabric 2.0?

Fabric 2.0 has introduced various features in its latest version. These are as follows: 

  • Decentralized governance for smart contracts 
  • New chaincode lifecycle
  • New chaincode application patterns
  • Automated checks
  • Decentralized agreements
  • Private data enhancements 
  • New smart contract launcher
  • Decentralized ordering service
  • Introduction of fabtoken
  • Multiple chain codes on a channel
  • Performance enhancements

  • Can you name some of the top healthcare projects powered by Hyperledger?

  • MELLODDY Project
  • Axuall Project 
  • MyClinic.com
  • KitChain 
  • Verified.me 

  • What are the Nodes and Channels in Hyperledger Fabric?

    The communication entries in Hyperledger are nodes, and the subnet of a Hyperledger network is known as the channel. 

  • Chaincode is written in which language?

It is written in multiple languages, including Golang and Java SDK. 

  • What are the types of nodes in Hyperledger Fabric?

There are three types of nodes:

  1. A client that submits a real transaction-invocation and broadcasts transaction-proposals to the ordering service.
  2. A peer node is a node that commits transactions and maintains the state and a copy of the ledger.
  3. Ordering-service-node is a node running the communication service that implements a delivery guarantee.

  • Explain Hyperledger Burrow?

Burrow is a fully-fledged blockchain node and smart contract execution engine that focuses on simplicity and speed. Burrow runs and executes Ethereum Virtual Machine and Web Assembly (WASM) smart contracts and are synchronized using the Tendermint consensus algorithm. It is an open platform that is mainly optimized for public and permissioned Blockchain; however, it can also be used as private blockchains.

  • Explain the RBFT consensus mechanism, which is used in Hyperledger Indy. 

RBFT stands for Robust Byzantine Fault Tolerance (RBFT) and is inspired by Plenum Byzantine Fault Tolerance (Plenum). It has a pluggable election strategy, and it is set to a permissioned, voting based strategy by default. All instances do ordering, but the requests ordered by the master instance are actually executed. This consensus provides Byzantine fault tolerance. The only drawback is that the more nodes that exist on the network, the more time it takes to reach a consensus. 

  • Does Hyperledger use Proof-of-Work?

No, it does not use Proof-of-Work consensus, and this is the reason why it is fast and energy-efficient as well.

  • Explain what Hyperledger Explorer is?

This is a user-friendly web application tool that provides enterprise-level visualizations that helps decision-makers through intuitive graphs, tables, etc. It is used for viewing or invoking transactions and other crucial information stored in the ledger.

  • What is Hyperldger Caliper?

Caliper is a Blockchain performance benchmark tool for Besu, Fabric, Ethereum, and FISCO BCOS networks that allows users to measure the performance of a blockchain implementation with a set of predefined use cases. 

  • What is Hyperldger Cello?

Hyperledger Cello is a blockchain provision and operation system that aims to serve as the operational dashboard for Blockchain, which reduces the effort required for creating, managing, and using blockchains. 

Moreover, Cello manages the complete lifecycle of blockchain networks, supports customized blockchain network config, and extends with advanced features as well. 

  • What is Hyperledger Grid? 

Grid is a supply-chain-centric reference implementation solution. This project provides a set of modular components for developing smart contracts and client interfaces and also showcases how to combine components from the Hyperledger stack into a single, effective business solution.

  • What is Kafka in Hyperledger Fabric?

 It is a permissioned voting-based consensus mechanism where a leader does the ordering, and only in-sync replicas can be voted as a leader.

The advantage is that it provides crash fault tolerance, and finality happens in just a few seconds. The major drawback is that it is not Byzantine fault-tolerant, which prevents the system from reaching an agreement in the case of faulty nodes.

  • Mention some of the applications of Hyperledger Fabric.

  • Supply Chain Traceability 
  • Digital Identity
  • Real-estate Transactions
  • Music and Media Rights and much more.

  • What are the advantages of Hyperledger?

  • Permission membership
  • Performance, scalability, and levels of trust
  • Data on a need-to-know basis
  • Rich queries over an immutable distributed ledger
  • Protection of digital keys and sensitive data
  • Modular architecture supporting plug-in components

  • What is solidity? 

Solidity is an object-oriented programming language for writing smart contracts for several different Hyperledgers platforms.

  • What is Hyperledger Aries?

Aries is an infrastructure for peer-to-peer(P2P), blockchain-routed interactions. This project helps in the exchange of blockchain-based data that facilitates interoperable interaction between several distributed ledger technologies and other blockchains and supports P2P messaging in various situations.

  • Which is the best Hyperledger project according to you?

While all the projects are geared towards industrial use, selecting the appropriate framework is a matter of choice that varies as per business needs. Each frame has its features making it more beneficial for one niche while less serviceable for others. 

Concluding Lines: How to Learn and Become a Certified Hyperledger Professional 

If you are looking to upskill yourself in this technology, we are here to help you learn and become an industry-ready Professional. The certifications provided by the globally renowned online platform, Blockchain Council, give an in-depth knowledge of all the frameworks of Hyperledger.

The platform is known to provide the two most in-demand certifications, such as Certified Hyperledger Developer and Certified Hyperlegder Expert.

Certified Hyperledger Developer Training is excellently designed and carefully curated by experts to render a profound understanding of Hyperledger Fabric and Composer. Beginning right from the basics of Hyperledger Fabric to the fundamentals of Fabric architecture, the course covers all theoretical and practical aspects of this technology. 

Talking about Certified Hyperledger Expert, this certification will cover all the details regarding the architecture of Fabric and composer and will also help you to understand the hyperledger family, so you can begin building blockchain applications on top of the hyperledger platform.

So are you ready to open the world of excellent career opportunities in the Blockchain domain? If yes, why wait? Get enrolled in the Blockchain certification and become a Certified Blockchain Expert. 

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

Top 30 Hyperledger Interview Questions for 2021

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Everything You Need to Know About World’s Lightest Blockchain “Mina”

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Everything-You-Need-to-Know-About-World's-Lightest-Blockchain-Mina

New to Mina Blockchain? Wondering how it differs from other Blockchains? Why is it the lightest Blockchain? Well, we have got you covered. This article will provide a brief explanation of Mina Blockchain. 

Table of Contents 

  • Understanding Mina Blockchain
  • Mina Blockchain Vs. Other Blockchains
  • What is Mina’s End Goal: Concluding Lines 

Understanding Mina Blockchain

Blockchain is a P2P, decentralized distributed ledger technology that mitigates the involvement of third-party intermediaries. Technology may be thriving, but there’s one major challenge that stands in its way, and that is scalability. A lot of efforts have been made in this direction to satisfy the ever-growing demands. One such protocol is introduced that claims to deal with scalability issues.

Mina is known to be the world’s tiniest Blockchain, powered by participants. It is a new cryptocurrency protocol built by O(1)Labs that aims to reduce the size of the Blockchain by maintaining a constant size of 22 kilobytes. Mina Blockchain claims that its protocol can reduce the size from many gigabytes to the size of 22 kilobytes.

Want to gain in-depth knowledge of Blockchain Technology and become a Certified Blockchain Expert? Wait no more. You are just a click away!

Mina Blockchain Vs. Other Blockchains

Mina Blockchain follows a design infrastructure where it will always be 22kb, unlike other Blockchains. Due to this, anyone with an internet connection will be able to synchronize and verify the network within seconds.

Let’s check out the differences between Mina and other Blockchains.

Size of Blockchain 

Compared to other Blockchains, Mina claims that its protocol maintains a fixed size of 22 kilobytes. But when it comes to other Blockchains, they have an increasing size of 300 GB. Mina aspires to be the world’s tiniest Blockchain due to its fixed size, whereas other Blockchains are considered to be heavy.

Easily Accessible 

Mina is light, allowing anyone to connect P2P and sync and verify the chain within seconds. This protocol is built on a consistent-sized cryptographic proof, allowing it to scale to millions of users, allowing higher accessibility. Unlike Mina, other protocols are comparatively heavy, and they need mediators to run nodes, recreating the same old power dynamics. Because of its higher accessibility, Mina can go places where other currencies might not go.

Truly Decentralized with Full Nodes 

Mina’s design ensures that anyone can take part in the proof-of-stake(PoS) consensus mechanism, providing accessibility to strong censorship-resistance and securing the entire Blockchain network. In Mica, anyone who’s syncing the chain also validates transactions like a full node. 

High-Speed, Seamless User-Experience

Unlike other Blockchains, Mina offers faster execution and a seamless user-experience because of its 22kb chain. It can execute thousands of transactions per second, and irrespective of how many transactions have occurred in the past, the chain’s entire historical data would be little enough to be saved on users’ mobile phones.

Powerful Decentralized Applications 

Mina offers a new category of applications, and that is Snapps, which are general-purpose SNARK-enabled smart contracts that bring along the features of privacy and verifiability. Such applications are optimized for efficiency, privacy, and scalability. In Snapps, data and logic are computed off-chain, and verification is performed on-chain on the end user’s device. Such powerful apps ensure that information is authorized without disclosing any crucial information. 

Want to build your own DApp? Become a Certified Blockchain Developer with Blockchain Council. 

What is Mina’s End Goal: Concluding Lines 

Mina uses the Non-Interactive Argument of Information Zero-Knowledge Concise (zk-SNARK) that enables users to compact the Blockchain into a small snapshot instead of downloading an entire blockchain. With the help of a secret key, anyone can prove ownership of the information without revealing any details and without any communication between the prover and the verifier. This will lead to lower inherent risks and reduced interest rates for borrowers. The end goal of Mina is to allow all internet-connected devices to interact with blockchain-verified information. Mina’s other distinction, aside from the characteristics listed above, is that it will be able to consume outside data without the need for oracles safely.

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

Everything You Need to Know About World’s Lightest Blockchain “Mina”

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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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