Explanation:
In the ChainWorld scenario, the primary structural flaw is the concentration of power among a small group of validators. This centralization of power arises from the consensus mechanism that privileges a select group of heavily invested validators to validate transactions. While this approach may enhance transaction speed and reduce fees, it compromises the decentralized nature of the blockchain. The concentration of validation power in the hands of a few can lead to potential risks such as manipulation, censorship, and a lack of accountability, which are contrary to the foundational principles of blockchain technology.
A is incorrect because the scenario explicitly mentions that ChainWorld achieves high transaction throughput and low fees, indicating that inadequate transaction speeds and high network fees are not the concern here.
B is incorrect as there is no specific information in the scenario that suggests ChainWorld is vulnerable to double-spending attacks. The scenario focuses on the governance and consensus mechanism, not on the security vulnerabilities specific to transaction validation.
D is incorrect because the scenario does not mention or imply reliance on decentralized exchanges for trading. The focus is on the structural design of the blockchain network, particularly the consensus mechanism and validator selection, not on the trading aspect of the ecosystem.
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Q.5736 Let's consider a fictional blockchain project, ChainWorld. ChainWorld introduces a novel blockchain that claims to offer unprecedented scalability and speed, targeting global adoption for everyday transactions. To achieve this, ChainWorld uses a unique consensus mechanism where only a select group of validators, chosen based on their substantial investment in the network, are authorized to validate transactions. These validators are rewarded handsomely, ensuring their commitment to the network. ChainWorld quickly gains popularity due to its high transaction throughput and low fees, attracting significant attention from both retail and institutional investors. In the ChainWorld scenario, which structural flaw is likely to emerge as a significant concern?
A
Inadequate transaction speeds and high network fees.
B
Vulnerability to double-spending attacks.
C
Concentration of power among a small group of validators.
D
Reliance on decentralized exchanges for trading.