How Can You Find The Best Blockchain Developer? – ALTCOIN MAGAZINE
Ask these simple questions before hiring Blockchain Developer
When it comes to hiring Blockchain Developer. How you can find the Potential and talented Blockchain Developer who can serve the best to your organization? For hiring the best candidate, here are some vital queries you must be asking your prospective blockchain developer.
Blockchain Technology is booming from its inception year 2008 with Bitcoin as it was the first application of the emerging technology. No matter which industry you are serving, Blockchain technology is may become the backbone for many industries and help us to add the advanced security layer and trust. Blockchain Technology works on a decentralized platform, so it’s the best alternative for a centralized platform, centralized data, Fiat currency, and other various transaction methods.
If you are planning to integrate this technology into your business and you are one of them who want to hire Blockchain Developers, then following are the must ask questions to Blockchain Developer because when it comes to hiring blockchain developer it is difficult to find for the potential and talented candidate.
To solve your problem, we created a few questions that you must ask your developer so it can help you to make the hiring decisions.
1. What is Blockchain Technology?
The term “blockchain technology” typically refers to the transparent, trustless, publicly accessible ledger that allows us to securely transfer the ownership of units of value using public-key encryption and proof of work methods.
The technology uses decentralized consensus to maintain the network, which means it is not centrally controlled by a bank, corporation, or government. In fact, the larger the network grows and becomes increasingly decentralized, the more secure it becomes.
2. What are the Types of Blockchain?
• Public blockchains like Bitcoin and Ethereum, Litecoin– Public Blockchain is the permissionless blockchain which is not controlled by any central authority and it is accessible to anyone who is connected to the network/internet, where the data is secured, immutable and no one can change it.
• Private blockchains like Hyperledger and R3 Corda- The Private Blockchain is the permissioned blockchain which is controlled by central authority or group of people/nodes. Only the permitted nodes can access the data, can do the transaction on the blockchain.
• Consortium or Federated Blockchain like Dragonchain-This type of blockchain tries to remove the sole autonomy which gets vested in just one entity by using private blockchains. This blockchain is working below the leadership of a bunch rather than one entity.
3. What are the Main Features of Blockchain?
i) Decentralized System- decentralized technology allows us to store assets in an exceeding network that may be accessed over the web.
ii) Enhance Security- As it gets to eliminate the necessity for a central authority, no will simply merely amendment any characteristics of the network for his or her profit. Victimization coding ensures another layer of security for the system
iii) Immutability- Creating changeless ledgers is one amongst the most values of Blockchain. Any information that’s centralized is subjected to urge hacked and that they need trust within the third party to stay the information secure.
iv) Irreversible- No middle man is concerned therefore once the transaction takes place it’ll not reverse once more
v) Cost-effective- By eliminating third-party intermediaries and overhead prices for exchanging assets, blockchains have the potential to greatly scale back transaction fees
vi) Minting– Minting is defined as the computer process of validating information, creating a new block and recording that information into the blockchain.
4. What does Mean the Term Decentralized in Blockchain Technology?
The decentralized nature of blockchain technology implies that it does not rely on a central purpose of management. An absence of a single authority makes the system fairer and significantly safer
5. What is Mining and How does it Help in Blockchain?
First, it creates new coins in the generated block.
Second, by providing proof of work (proof that the generated block is valid) to the network, it includes transactions in a distributed ledger.
6. Which Types of Records can be Stored in a Blockchain? Does it have any Restrictions here?
Blockchain doesn’t have any restrictions here. As its stores all type of data.
1. Records of medical transactions
2. Identity management
3. Transaction processing
4. Events related to organizations,
5. Management activities
7. Securing applications
8. Database security
7. Is the Blockchain Technology Secure?
8. What is the Consensus Algorithm in Blockchain & Different Types of Consensus Models in Blockchain Technology?
Blockchain consensus protocols are what keep all the nodes on a network synchronized with each other while providing an answer to the question: how do we all make sure that we agree on what the truth is?
Major Type: Proof-of-Work (PoW), Proof-of-Stake (PoS),Delegated Proof-of-Stake (DPoS),Byzantine Fault Tolerance (BFT), Practical Byzantine Fault Tolerance (PBFT), SIEVE, Proof-of-Weight (PoW), Unique Node Lists (UNL), Proof-of-Burn (PoB), Proof-of-Activity (PoA), Proof-of-Capacity (PoC).