Question:- What is a Blockchain Explorer?
Answer:- A Blockchain Explorer is a piece of software that draws data from a blockchain using an API and a blockchain node, then uses a database to organize the data and present it to the user in a searchable format.
Question:- What Is Hashing in Blockchain?
Answer:- The process of making an input item of any length represents an output item of a fixed length is referred to as hashing in the blockchain. Take, for example, the use of blockchain in cryptocurrencies, where transactions of varying lengths are run through a given hashing algorithm and all produce a fixed-length performance.
Question:- What are the different types of Blockchain?
Answer:- The blockchain is classified into four types • Public Blockchains • Private Blockchains • Consortium Blockchains • Hybrid Blockchains.
Question:- What are the benefits of Blockchain Technology?
Answer:- Blockchain technology has the following benefits: • Blockchain technology employs advanced security compared to other networks or record-keeping systems. Prior to being recorded, all transactions must be agreed upon. A transaction is encrypted and connected to the previous transaction after it has been authorized. • Blockchain offers transparency. As one of the major problems in the new industry is transparency. An organization may use blockchain to create a completely decentralized network that eliminates the need for a centralized authority, increasing the system’s transparency. • Blockchain helps in reducing costs. Organizations will save a lot of money by using the blockchain instead of paying third-party vendors. • Blockchain automates time-consuming processes in order to increase performance. With the aid of automation, it also eliminates human errors. As a result, blockchain increases efficiency and speed. • The blockchain allows for immediate traceability. It generates an audit trail that records an asset’s provenance at each stage of its journey which prevents fraud.
Question:- Name some popular Blockchain Platforms for Blockchain Applications?
Answer:- The following is the list of widely-used platforms for blockchain-based applications • IBM Blockchain • EOS • OpenLedger • Corda • Ripple Blockchain • Ethereum Blockchain • IOTA • Quorum • OpenChain • Hyperledger Sawtooth
Question:- What is the difference between Blockchain and Hyperledger?
Answer:- • Blockchain is a technology that allows us to build decentralized systems. When we break down blockchain, the “block” refers to information stored in a digital format, while the “chain” refers to the database where that information is stored. • Hyperledger is a type of blockchain platform. It’s a blockchain-based open-source network. These blockchains each have their own storage routines and consensus, as well as smart contracts, identity, and access management. • Since hyperledger is a product of the blockchain platform, they have a few in common. However, due to hyperledger’s unique features, both are different. • Mostly, blockchain is classified into public and private types. And Hyperledger Blockchain is an example of a private blockchain.
Question:- What are some of the popular Cryptocurrencies?
Answer:- The most popular Cryptocurrencies are: Bitcoin(BTC) Ethereum(ETH) Ripple(XRP) Litecoin(LTC) Bitcoin Cash(BCH)
Question:- What is a ledger? What is the difference between a distributed ledger and a traditional ledger?
Answer:- A ledger is a constantly growing file. It maintains a permanent record of all transactions between two parties on the blockchain network. A distributed ledger is a database of digital data that is replicated, exchanged, and synchronized across multiple sites in a network. Distributed ledgers, unlike traditional ledgers (think banks, governments, and accountants), provide a system of synchronized databases that have an auditable background of information that is accessible to everyone inside the network.
Question:- What is a 51% Attack?
Answer:- A miner or a group of miners attempting to control more than 50% of a network’s hashing capacity, processing power, or hash rate is known as a 51 percent attack on a blockchain network. The attacker may prevent new transactions from taking place or being verified in this attack. They can also reverse transactions that have already been verified while in charge of the network, resulting in a double-spending problem.
Question:- What do you mean by blocks in Blockchain technology?
Answer:- In the Blockchain, a block is simply a set of records. The term “blockchain” refers to the process of joining these lists together. For example, if a company has 100 ledger books, the total is known as Blockchain, and each ledger is referred to as a block.
Question:- How does a block is recognized in the Blockchain approach?
Answer:- Any block in this online ledger consists primarily of a hash pointer that serves as a connection to the previous block, transaction data, and a time stamp.
Question:- Are there any network-specific conditions for using Blockchain technology in an organization?
Answer:- No, there isn’t any such restriction on using it. However, under the worried protocols, the network must be a peer-to-peer network. It effectively validates the new block and assists businesses in keeping up with the pace in this area without relying on third-party applications.
Question:- Is it possible to modify the data once it is written in a block?
Answer:- No, it is not possible to do that. If any customization is needed, the company simply needs to delete the details from all other blocks as well. Data must be treated with extreme caution when using this system for no other reason than this.
Question:- No, it is not possible to do that. If any customization is needed, the company simply needs to delete the details from all other blocks as well. Data must be treated with extreme caution when using this system for no other reason than this.
Answer:- In the Blockchain method, there are no limitations on the number of records that can be held. It is important to remember that record keeping is not limited to these applications. The following are examples of the types of information that can be held on them: 1. Health transaction records 2. Managing your identity 3. Production of transactions 4. Organizational events and management tasks 5. Documentation is required.