Interviews are all about preparation. To land your dream blockchain job make sure you do your research and prepare. Our blockchain job guide will assist you in making sure you are fully prepared for some general questions you may get asked during your interview.
Q 1. What do you know about Blockchain?
Possible answer:
It is the underlying technology used to create, update and maintain a decentralised, trusted ledger of transactions which occur within a network.
This network is made up of independently owned nodes that use a cryptographic protocol to validate the transactions taking place. The protocol rewards accuracy in a way that ensures the data entered into the ledger cannot be wrong or subject to changes. Its underpinnings have been around for several years’ but it wasn’t until the creation of Bitcoin that the first example of a successful implementation of a decentralized ledger was deployed in a secure fashion.
It is immutable, secure, and fully transparent.
Read more in our guide ‘What is blockchain technology?’
Q 2. How does blockchain technology work?
Possible answer:
The central differentiators of blockchain technology is its reliance on a completely decentralised network of computers to validate the transactions or data inputs on the shared ledger.
Instead of a main server acting as the guarantor of the data, the idea of a decentralised network that can validate transactions based on a mathematical verification mechanism to which all computers/servers agree to uphold took hold.
Read more in our guide ‘How does blockchain technology work?’
Q 3. What are the different types of blockchains?
Possible answer:
Permissionless blockchain
Most people know this one as it’s the one that powers Bitcoin and Ethereum. Here there is no authority sanctioning any transactions.
Public permission blockchain
Here we have a number of chosen people who sanction a transaction – it could be the government, an institution or anyone assigned. The data can be viewed by the public.
Private permissioned blockchain
Similar to a public permission blockchain but with one major difference – the data is not available to the public.
Read more in our guide ‘The difference between public and permissioned blockchain’
Q 4. Why is blockchain a trusted approach?
Possible answer:
It is very reliable technology, it can improve the way things are stored, the security of records, and it all comes with transparent privacy. It is open source with decentralised records. The value, reliability, and completeness of a transaction are all based upon the level and authenticity of trust.
Read more in our guide ‘Why use blockchain technology?’
Q 5. How safe is blockchain technology?
Extremely safe. As it stores information across a network of computers, the task of compromising data becomes much more difficult for hackers. Instead of having to breach just one server, falsifying a balance or making a fraudulent transaction on a blockchain can only be achieved if the majority of the network is compromised. Hacking a single server can be extremely difficult, even for the most accomplished cybercriminals. Being able to compromise enough servers to falsify records on the blockchain is practically impossible, especially as hackers would need to breach each node simultaneously.
Read more in our guide ‘How safe is blockchain technology’
Keeping up to date with blockchain news, views, latest developments and blockchain iob listings
Part of the interview process is to have some general knowledge about the latest industry news and developments. With everything online its easy to do this but as a starter here are a couple of recent news stories about blockchain on our site at the time of writing:
Germany-based crypto venture Bitwala has joined the European FinTech Alliance (EFA).
The organisation, which was founded in 2016, now represents 26 members from six countries across the European Union. These include: Ebury, Holvi, Wirecard, Figo, FinTech Group, Ingenico, SlimPay, Investify, Blackbill, Visualvest, Solarisbank, Outbank and Crossinx.
“Innovation in financial technology, if not dwarfed by regulatory discrepancies and redundancies that still exist, is easy to scale across all member states. It is therefore a potential hotbed for startups and SMEs to grow and become future pan-European champions,” says Roman Kessler, Co-Chair of the EFA.
Read the full article here.
Foodchains teams with qiibee for new loyalty programme
Foodchains, an offshoot of Shanghai-based online catering company, freshchefs, has announced a partnership with Swiss blockchain-powered loyalty ecosystem qiibee.
Customers who download the foodchains app will earn FAN tokens each time they make a purchase at participating restaurants by scanning a QR code, writing reviews about their dining experience, and other community-related actions.
Read the full story here.
If you’re looking for a blockchain job then take a look at our latest job listings
Our site is packed full of exciting job opportunities. Take a look and apply on this link.
Photo by Hannah Wei on Unsplash
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.