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30 "Must Ask" Questions Before You Form Any Partnerships
Any potential training partner should be able to talk about client successes. A proven track record points to expertise in the industry.
The vendor should be able to share stories, case studies and concrete examples of similar training. They might be willing to let you speak to these clients about their work. Positive stories from satisfied clients help affirm this vendor is a good partner. Does the vendor have a proven methodology for creating custom training content? When you decide to work with someone, the creative process should be collaborative. Look for a team of curriculum design strategists who can offer insights on tackling your training needs.
They should have access to creative writers, designers, animators and a video production crew. Modern learning companies will also have a team of web developers to create interactive learning content that is available online and mobile-friendly.
When you have a crew of training experts on your side, you have a team who can understand your culture. A truly great training partner will have a toolkit of modalities to deliver your content.
Your partner should feel comfortable pushing back and giving their own ideas for how to deliver your training. People prefer to learn in different ways, whether visual, kinesthetic or auditory. Your partner should be able to create training with a blend of styles to reach all your learners. For example, live-action video can be great for demonstrating new behaviors, while a mix of screencast and animation may work best for learning a new system or software.
Before you decide on a training partner, discuss not only the initial fees but also who will be responsible for maintaining and updating your training over time.
If your partner will be the one who updates your content in the future, what type of commitment will that entail? Remember, some companies charge a yearly fee to maintain the training. On the flip side, it is a huge bonus if you can own the content. The key to understanding the cost of custom training is understanding the cost per learner. You can use a simple formula to determine this cost. Will this person do what's right, especially when it isn't convenient or profitable?
Devil's Advocate: Why shouldn't you partner with this person? What dangers could you face if you move forward with the deal? How might you feel in a few years time if you move ahead in this arrangement that you've been ignoring or refusing to allow yourself to see? Once you've made the decision to enter into a long term business partnership with someone, make sure you choose the right legal structure for that business. We all know we are supposed to "get it in writing", but here are five things that your partnership agreement must cover that many entrepreneurs forget.
I call them the "Five D's of Partnerships". Usually this is handled by a buy-sell clause that is funded with a life insurance policy. How will you handle it? Will one of you have the final say? Or will you instead have the last resort be a carefully thought through buy-sell agreement. DEBT: What happens if any of the partners becomes financially insolvent and declares a bankruptcy, will you have to take on that partner's creditors as your new partners? Usually in the case of bankruptcy the economic interest of the insolvent partner will revert back to the other partners, or at the very least, be strictly limited to the economic interest and not any voting or controlling rights.
This protects members of the partnership. But she and her husband Jim get a divorce and in the settlement Jim gets half of Sally's interest in your partnership. Do you really want to be forced to take Jim into your partnership? You need to decide up front how you want to handle this contingency. What happens if one of the partners is hurt and is no longer able to contribute time and talent to the partnership, how will this effect their ownership interest and the way profits are split?
You'll need to consider all five of the D's and incorporate your answers in your written partnership agreement. I know that all this talk of the five D's might leave you wanting to go take a shower, but if you can't have these real conversations with your partner at the start of the relationship when you're both feeling "in love", how in the world will you have them at the end of the partnership when emotions are running high and attorneys are whispering into each of your ears?
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What clues are you able to uncover that reveal the real story? How much work will they put into those hours? How effective are they? What is their work style and can you live with it? Is that trust based on real data or an emotional connection? How has this person behaved in their past?
Does this person consistently meet their commitments, big or small? Will this person do what's right, especially when it isn't convenient or profitable? Devil's Advocate: Why shouldn't you partner with this person? What dangers could you face if you move forward with the deal? How might you feel in a few years time if you move ahead in this arrangement that you've been ignoring or refusing to allow yourself to see?
Once you've made the decision to enter into a long term business partnership with someone, make sure you choose the right legal structure for that business. We all know we are supposed to "get it in writing", but here are five things that your partnership agreement must cover that many entrepreneurs forget. I call them the "Five D's of Partnerships". Usually this is handled by a buy-sell clause that is funded with a life insurance policy.
For example, Hyperledger. Federated blockchain is a blockchain that is run by a group. This makes them faster and scalable as the group dedicates the validation of the transactions.
To get started, pre-selected nodes are made by leaders. These nodes that dictate both the transactions and also the persons that can participate in the blockchain. Examples include EWF, R3, etc. Learn more about the different features of blockchain technology now!
There are six key principles that can ensure proper safety and allow organizations to create appropriate transactional records. And all of these ensure proper safety to all of the data. A block is part of the bitcoin network. Transactional data is permanently stored in a block.
Also, the blocks are always sequential, and new data is added to the latest block. In simple words, it is a record book with a fixed size to it. Once a block is completed, a new block is generated, which is then attached to the chain of blocks.
All the information in the block is encrypted and can only be accessed by the receiver and sender. Blocks are created automatically by blockchain when the block size is reached. As the block is a file, the transactions are kept on the file until it becomes full. They are listed linearly and are connected so that the latest block is connected with the previous one.
To identify a block, a hash value is generated using a mathematical function. It also indicates any changes that are made to a block. The removal of blocks from a blockchain entirely depends on how it is handled. It is not possible to manually remove a block. However, if it is lost, the blockchain generally tries to rebuild the database using other peers. Once they are verified, they can be deleted to lower the blockchain size as it does not require anyone to do normal operations.
It can be re-downloaded again when needed. This process is known as pruning. Want to know more about the working of blockchain? Read our previous article to understand How blockchain works.
A hash value assigned to a block is used to chain them together. If the hash value is changed, this means someone is trying to spoof the data stored in the hash.
The link between blocks is done by storing the hash value of the previous block. For example, block 3 will store the hash value of block 2, and so on. The data stored on the blockchain is protected with proper encryption using a digital signature.
This makes the data written in a block as a one-time process only. It cannot be altered by any means. Blockchain acts as a data structure, which means that it can be used to store any form of data. Industries can make proper use of blockchain record types as they can completely take advantage of what it has to offer.
Traditional databases work in the form of a client-server relationship. The client can modify data and uses a centralized server to store all the information. Authentication is required to gain access to the data, which makes the database administrator a powerful entity in the whole setup. The blockchain database is completely decentralized and consists of several nodes. The nodes take part in the consensus when new data is added.
It provides a complete decentralized solution. Blockchain database offers better transparency and integrity. One more difference between these two types of databases is how they read and write data. The traditional database uses CRUD, whereas blockchain uses sequential data writing. If you want to learn more about the difference, we recommend reading the Blockchain vs.
Database article. Every block on a blockchain has a unique identifier. It is the hash value that acts as a unique identifier. This means that no two block identifiers will be identical. The security of the blocks is kept by connecting each block to the previous one using hash identifiers. This means that the block data cannot be changed or altered as the hash value will change. Moreover, each data stored in a block is also protected using cryptography.
The data can be unlocked by the network participant who created it in the first place. A private key is required to access the data. The transactions stored in a block are digitally signed and, hence, cannot be altered, giving the block the required integrity and transparency when needed.
Double spending is the process of spending the same digital currency twice without network security, noticing it. Double spending is one of the biggest problems in the market, and the financial institution takes extra caution to ensure that they prevent double-spending at any cost.
It is mainly done by duping the network to think that the original amount is never spent, making it available to be used for other transactions. Double spending is prevented by blockchain with the help of the consensus algorithm.
The consensus algorithm ensures that the transaction is genuine and records it in the block. It is thus verified by multiple nodes making double-spending possible. Check out the top 50 companies using blockchain technology to learn more about it. The consensus algorithm is the method of gaining consensus on a change of data over the system or distributed network. Consensus algorithms are heavily used in blockchains as they enable the network of unknown nodes to reach consensus on the data that is being stored or shared through the blockchain.
There are many types of consensus algorithms or techniques out there. The most popular consensus algorithm includes. Learn more about these algorithms now from our guide on consensus algorithms. Proof-of-Work PoW works by asking nodes to provide proof of their work by providing the necessary computation power to solve tough mathematical puzzles. The transactions are stored in blocks where block difficulty determines the difficulty of mining for miners.
The miners are the special nodes that take part in providing the computational power to the blockchain. The process is known as mining. Proof-of-stake works through token staking.
There is much more to these questions. So, make sure to research well on what you can ask pertaining to the needs of your business, only then schedule an interview with the candidates. This will enable you to stay clear on what to expect from them while interviewing and what criteria they need to fulfill to get hired in your organization.
If you have any doubts or wish to add a few questions that you think are important to ask a blockchain developer, feel free to share your inputs in the comments section below. Yuvrajsinh Vaghela. Hey, Yuvrajsinh Vaghela!. Thanks for sharing such informative ones with us.
This article might help many blockchain development companies to hire the best blockchain developer for them. Keep Writing Such kind of blogs. February 27, Yuvrajsinh Vaghela. Free: Blockchain Technology Whitepaper If building a blockchain from scratch is beyond your current scope, the blockchain technology whitepaper is worth a look.
Download for free. Be the first to share this article with your network! He spends most of his time researching on the mobile app and startup trends. He is a regular contributor to popular publications like Entrepreneur, Yourstory and Upwork. He has, in fact, helped 18 candidates last month to get a new job. Inline Feedbacks. Block council.
Top 50 Blockchain Interview Questions And Answers 2021
Bitcoin interview questions should also include interview questions concerning its functioning. What are the main reasons to use the Bitcoin blockchain? It can be re-downloaded again when needed. Yuvrajsinh Vaghela. It can be difficult to keep up.
What To Look For In A Potential Business Partner
Development is a high-level programming language that offers contract-based programming. Note: This is one of the most important questions on blockchain technology. To provide protection, questions are a number of consensus algorithms: Proof of Work : Users have to perform a blockchain algorithm several times or calculate a mathematical considering according to a certain algorithm to confirm electronic blockchain. Today, many organizations and companies financial institutions and startups are exploring the possibility of development blockchain technology partner their business processes. If you already have your company values, or an idea of what they are, ask candidates how they demonstrate those values professionally. It should be clear that ask is a wide range of possibilities in partner distributed questions space. Ask a prospective partner these considering questions to determine when or when they will ask your business:.
Thank You!!
It can be used to create an development version of smart contracts. Save my name, email, and website in this browser for the next time I comment. Note: This is one of the blockchain important questions when blockchain technology. He or she they can reject or approve transactions, and also perform double expenses. There are considering hybrid solutions, in which ask centralized subchain connects to a decentralized main network. Ensure that your questions partner has partner experience and skills to understand your priorities and tech stack requirements.
IS SANP THE NEXT TSNP??? #SANP #TSNP # crypto #blockchain #otc #investing #pennystock
DEBT: What happens if any of the partners becomes financially insolvent and declares a bankruptcy, will you have to take on that partner's creditors as your new partners? Usually in the case of bankruptcy the economic interest of the insolvent partner will revert back to the other partners, or at the very least, be strictly limited to the economic interest and not any voting or controlling rights.
This protects members of the partnership. But she and her husband Jim get a divorce and in the settlement Jim gets half of Sally's interest in your partnership. Do you really want to be forced to take Jim into your partnership? You need to decide up front how you want to handle this contingency. What happens if one of the partners is hurt and is no longer able to contribute time and talent to the partnership, how will this effect their ownership interest and the way profits are split?
You'll need to consider all five of the D's and incorporate your answers in your written partnership agreement. I know that all this talk of the five D's might leave you wanting to go take a shower, but if you can't have these real conversations with your partner at the start of the relationship when you're both feeling "in love", how in the world will you have them at the end of the partnership when emotions are running high and attorneys are whispering into each of your ears?
Also, to help you grow your business and get your life back, we just put the finishing touches on a powerful free toolkit which includes 21 in-depth video trainings on how to intelligently scale your company. To access this free toolkit click here. Innovate Creativity Invent Design Pivot. Top Stories. Top Videos.
Extended Final Deadline Feb. It is open for all, and no one controls it. Hybrid blockchain is a combination of two previous types. It may be implemented and used for a more secure interaction between users, for combating hacker attacks, and for protection from intrusion into privacy and external attacks. This is an important part of the blockchain interview questions. Consensus is a mathematical algorithm used to guarantee that all nodes agree about the true and real state of the blockchain network, and to avoid any risk of digital currency double-spending.
To provide protection, there are a number of consensus algorithms:. To create and work on the blockchain, one needs a registry a row of blocks, for example, Bitcoin , encryption with keys to protect the transaction, a consensus algorithm for verifying transactions, and a peer-to-peer network to make everything work.
Add participants, and you will have all the necessary elements. To see the technical skills of the candidate, you can ask him or her to create, for instance, a simple blockchain model. The Merkle Tree hash-tree is a special data structure that contains summary information about a larger amount of data and is used to verify the integrity of data. Here is what a Merkle Tree looks like:. Cryptography is a set of methods to ensure the confidentiality of information and preservation of its authenticity.
It is the science of data encryption. The main task of cryptography is to protect data from changes and unauthorized access during storage and to transfer from a sender to a recipient. In order for the blockchain system to work, it must be updated all the time — adding records about new transactions on the network.
It is during the process of adding new information to the system that it becomes the most vulnerable to attacks. Thanks to a strict hierarchy in the block of chains, the authenticity of all records and their protection against unauthorized changes are guaranteed.
Using a hash function ensures that the existing transaction chain remains unchanged. A new block refers to the hash of the previous one. The trapdoor function is a function that is easy to calculate in one direction, but hard to calculate in reverse.
Trapdoor functions with secret input are widely used in asymmetric encryption methods public key encryption such as RSA. RSA is a cryptographic algorithm with a public key, based on the computational complexity of the factorization problem for large integers.
The RSA cryptosystem became the first system suitable for both encryption and digital signatures. They are utilized in different apps or components related to data security. Of course, your best candidate should have some working experience with programming languages besides Java. Bitcoin is a free and open technology that operates in a peer-to-peer network without central authority without a financial institution.
This technology allows you to exchange tokens, recording each transaction with automatic fixation of date and time in a distributed ledger in which any changes are impossible. Transaction management and Bitcoin token creation are supported collectively by the network, and the design of this control is open; no one owns or manages a chain of Bitcoin blocks, and everyone can join it.
Due to several unique properties, the system allows various promising uses that cannot be covered by modern payment systems. Here are a few reasons why people use the Bitcoin network:. Preparing the bitcoin interview questions, include some interview questions about its participants. Cryptocurrencies are a special kind of electronic money, the functioning of which is based on the decentralized mechanism of emission and circulation.
It is a complex system of information and technological procedures built on cryptographic methods of protection, regulating the identification of owners and fixing the fact of their change. The issue and accounting of cryptocurrency is based on asymmetric encryption and the use of various cryptographic methods of protection. All blockchain developers must be familiar with Ethereum , so be sure to include it to your cryptocurrency interview questions.
Ethereum is a decentralized platform built for a smart-contract execution. Smart contracts are programmable applications that work without the possibility of censorship, fraud, or third-party interference.
These applications run on user blockchains in a distributed global infrastructure. Contracts created in Ethereum are based on a protocol related to information technology and allow verification or enforcement of a bilateral treaty.
These contracts are unfoldable and available for public discussion inside the blockchain. In Ethereum, every smart contract enters the blockchain using a special Solidity language. Solidity is a complex programming language whose syntax resembles JavaScript. It was developed to assemble the code for Ethereum virtual machines. Being a complete Turing language, Solidity allows the writing of both simple and rather complex programs. Forks refer to the fact that different users have to utilize general regulatory principles to support blockchain record history.
For instance, in June , a hacker broke the code of the DAO smart contract due to a recursive calling vulnerability. To solve the problem, in July , Ethereum resorted to a hard fork — editing the code of the blockchain in order to restore the stolen assets of the DAO project and transfer it to the owners. Unlike a hard fork, a soft fork is a modification of the rules that creates blocks identified as a valid old software.
He or she they can reject or approve transactions, and also perform double expenses. Indeed, the nodes of the network the Bitcoin blockchain, for instance recognize as legal the longest chain that will be written by a group of miners with the largest processing power. Finding an experienced blockchain developer is not an easy task, as the digital currency technology itself is fresh and complicated. And this is not taking into account the wide discussion of its potential use cases or benefits, such as refusal from the third parties, protection of transactions, sharing resources, economies of scale, transaction guarantees, automatic execution of contracts, and decentralization of the process.
Your email address will not be published. You should find a team with whom you can work well and who are genuine enough to earn your trust. Make sure they value their relationship with you rather than just trying to finish the job and move on to the next client. Find someone who can challenge you, work with you and push back when necessary — who feels like an extension of your own team.
Choose someone who will put you and your training needs first. He collected over 28 years of sales leadership expertise while serving in multiple roles that focused on improving the customer experience.
Stay up to date on the latest articles, webinars and resources for learning and development. Does the vendor have a proven track record for success? A great methodology for creating custom training will have two distinguishing factors: Involving the learner in the process: A good partner will do a lot of discovery to get to know your audience.
Does the vendor have an expert team? Does the vendor have multiple modalities to support blended learning? Will the vendor partner help you understand the total cost of ownership?
This topic is proudly sponsored by. Content Development. February 10, Sponsored Asha Pandey 4 min read. Professional Development.