Blockchain Ninja Manual



  • We previously used this manual to help train new teammates at Vite Labs. Hope it's still helpful!

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    Your ability to answer the below questions helps determine your Blockchain Ninja level. Our goal should be to help each other become the highest level Ninja that we want to be.

    This is meant to be didactic and entertaining. Feel free to add questions and move questions between levels.

    Technology

    Level 1

    • Name the consensus algorithm used by Bitcoin, Ethereum, EOS
    • What is H in HdPOS?
    • What is the difference between a project that is creating a public blockchain and a project that is creating a dApp?
    • What is light paper, white paper, and yellow paper?
    • What is decentralization?
    • Explain Proof of Work in five sentences
    • Explain the difference between the mechanisms of POW and POS, and their pros and cons

    Level 2

    • What is "the scalability problem" of public blockchains?
    • What is a fork of a cryptocurrency?
    • What is the difference between a permissioned and a permission-less blockchain?
    • What is the purpose of a Merkle tree?
    • What is the difference of private, public and consortium chain?
    • Explain what ERC20 means
    • What do people mean when they say something is on-chain and something is off-chain?
    • Give a high-level explanation for why the blockchain technology, something that was initially proposed to solve payment problems, be used for non-payment things like games (e.g., CryptoKitties) and identity management
    • Name one project that had a 51% attack successfully executed against it, and describe the incident
    • How is Vite different from so many other public blockchains?
    • How is Vite's consensus algorithm different from that of EOS?
    • How is Vite's DEX different from so many other DEX's?

    Level 3

    • What does Byzantine Fault Tolerance mean?
    • What is inter-operability between blockchains?
    • What are layer 0, layer 1, and layer 2 solutions? Name one project in each category.
    • Name and explain three different approaches to tackling the scalability problem in public blockchains. Name one project for each approach.
    • What is a side chain?
    • What is a state channel?
    • What is token wrapping?
    • What is an atomic token swap?
    • What is Plasma?
    • What is Sharding?
    • What is a Non-Fungible Token?

    Level 4

    • Describe the POW consensus algorithm step by step
    • Describe the POS consensus algorithm step by step
    • Name and explain, at a high level, three other consensus algorithms outside of POW, POS and dPOS
    • Name three commonly cited blockchain use cases that have problems in real-life implementation
    • What is zero knowledge proof and how is it useful?
    • What is the re-entry problem with Ethereum?
    • Name three projects that have an asynchronous architecture for their smart contracts.

    Level 5

    • Run a Vite full node or SBP
    • Run a Hummingbot client to trade on ViteX

    Level 6

    • Create a solidity++ smart contract (need to set up development environment)

    Business

    Level 1

    • What does the Consensys organization do?
    • What is the difference between an ICO and a private sale?
    • What is the difference between an equity raise and a token raise?
    • Name three blockchain projects that raised over $500M
    • Name and describe three dApps
    • What does Bitmain do?
    • Who are Roger Ver, Joe Lubin, and Jimmy Song?
    • Why do some governments ban initial coin offerings?
    • What is the market cap of a project?
    • Why do projects want to get listed on an exchange?
    • Why do projects spend time operating their communities (e.g., Telegram, Discord, Reddit)?
    • Name three potential use cases of blockchain
    • Explain what an airdrop campaign and a bounty campaign is

    Level 2

    • What is Quorum and who created it?
    • What is Hyperledger and who created it?
    • Explain the difference between a centralized exchange and a DEX
    • What is Fomo3D?
    • Some say, proof of Stake makes the rich richer, and is not a good system. What are your thoughts on that?

    Level 3

    • Name three projects that appear legit but are copy-cats, and explain why this is the case
    • What is an ecosystem fund?
    • What do exchanges look for when listing a project?
    • For each of the top-20 projects in terms of market cap, describe what they do at a high level

    Level 4

    • Name one blockchain project that has a proven revenue model

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