Question: Why we need Blockchain ?
Answer: Blockchain is a technology that bring trust, transparency and eliminate third party so this going to add some value to Business. Along with that there are other features like Immutability that make it unique.
Question: what is peer to peer network ?
Answer: It is also known as decentralized network where people/systems across the globe connect to each other and make this network. For example, in Bitcoin there are around 30000 nodes connected to each other and make the network decentralized.
Question: Can we alter the data once added to Blockchain?
Answer: Blockchain is immutable that means once you add the data to Blockchain, it is impossible to change it.
Question: what is the difference between Database and Blockchain ?
Answer: Refer below post for the details.
Question: Types of Blockchain ?
Answer: We categorize Blockchain to mainly three types as mentioned below.
- Public Blockchains
- Private Blockchains
- Consortium Blockchains
Question: Plesse name some of Public Blockchains.
Answer: Most popular Public Blockchains are Bitcoin and Ethereum.
Question: Provide any one example of private Blockchain?
Answer: Multichain can be used to build private blockchains.
Question: How many transactions we can have in one Block in Blockchain ?
Answer: Number of transactions vary from blockchain to blockchain. Even in one particular blockchain there is fixed count of transactions in block. Numbera of transactions are based upon Block time generation. For example in Bitcoin, average block generation time is 10 minutes so whatever transactions miner add during that time will become part of that block so number of transactions per block always vary.
Question: Who create the Block in Blockchain ?
Answer: Miner create the block in Bitcoin and Ethereum Blockchain.
Question: Can anyone see my transactions on Bitcoin and Ethereum Blockchain ?
Answer: Yes if they know your public address. They can go the explorer and search with your public address and get to know how much balance you have and what all transactions you have done.