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Blockchain jobs are amongst the most lucrative career opportunities in today’s job market. Almost every forward-looking company in all sorts of industries is implementing blockchain processes in their business modules. They are either doing this through in-house talent or in conjunction with specialist blockchain companies who provide tech consultancy and solutions. This has created a demand for highly skilled professionals who can work on complex blockchain solutions and have a multi-disciplinary skill-set.
Such requirements create a talent gap in the industry. The skills and knowledge possessed by professionals may not live up to the industry standards. To make sure that the right candidate gets the opportunity, recruiters adhere to an interview process that tests an individual’s knowledge around blockchain skills and ideology.
If you are a software developer, marketing professional, or someone who is preparing to get a job at a blockchain company then you must get ready to answer some frequently asked questions for those job interviews.
While questions like what is blockchain? And what are its features? Are the obvious conversation starters, other equally important questions consistently rank as top interview questions. To know the correct way to answer these questions, follow along;
The trustworthiness of blockchain networks is quite ironic because blockchain works in a way that adheres to a trustless process. The need to trust in a process or mechanism is based on the absence of absolute transparency and the presence of an intermediary. Blockchain as a technology eradicates the need for an intermediary through a decentralized network that verifies changes on the ‘Block’ with a consensus algorithm. In such a scenario, there is utmost transparency which makes things work on a blockchain network in a safe and trustless manner. The fact that blockchain networks and databases are not prone to corruption and fraud, makes them highly trustworthy.
There are mainly three types of blockchain networks, i.e, public, private, and consortium blockchains.
There are around five most used algorithms in the blockchain industry. The most widely used is the SHA-256. Others are
A smart contract is a program based on the Ethereum platform that executes automatically when a set of predefined terms, between the peers, are met.
Smart contracts are used in transportation, insurance, copyright, employment contract, etc.
The main difference between both is that Bitcoin is just a cryptocurrency, whereas Ethereum is a platform that allows other businesses to develop their applications. The Ethereum network has an in-built currency that is called Ether.
As a cryptocurrency, Ethereum is certainly faster than Bitcoin because it settles transactions within seconds.
Solidity is an object-oriented programming language that is used to write smart contracts. One must specify the Solidity version number and code version number at the beginning. It eliminates compatibility errors while compiling the code with another version.
Proof of Work (PoW) is the method of verifying a transaction by solving a mathematical puzzle. This process is also called mining and is an intense computational process that takes up a lot of power.
Proof of stake (PoS) is an alternative where the blockchain goes for distributed consensus. The probability of mining depends upon the miner’s stake in the network. Whereas in PoW, the probability depends upon the computational work. PoS eliminates the heavy electrical power used up to mine blocks.
51% attack is the most evident form of network attack where an individual or a group owns the majority mining power. This allows them to prevent transactions from being confirmed. Mostly, small cryptocurrencies are vulnerable to such attacks, and Proof of Stake is a robust solution to prevent such them.
The above questions are just a glimpse of what recruiters might ask you to test your knowledge around the concerned technology. Some questions will also deal with pure technical aspects that will measure your skills as a developer. It is highly advised that you completely understand the role and its requirements before applying and prepare accordingly.
Looking for a job in the blockchain space? Take a look at our blockchain developer jobs.
Engineers who find a new job through Blockchain Works average a 15% increase in salary.Start with GitHubStart with TwitterStart with Stack OverflowStart with Email