Virtual Labs

Comparative Analysis of Consensus Algorithms

In the context of blockchain, what is the primary objective of a consensus mechanism?

a: Data encryption for secure transmission. Explanation

Explanation

b: Verifying the identity of users. Explanation

Explanation

c: Ensuring all nodes agree on the validity and order of transactions. Explanation

Explanation

d: Enhancing the speed of transactions. Explanation

Explanation

Which of the following best describes the primary function of the Proof of Work consensus mechanism in blockchain networks like Bitcoin?

a: Validators are chosen based on the number of coins they pledge as collateral. Explanation

Explanation

b: Transactions are approved through a voting mechanism based on coin ownership. Explanation

Explanation

c: Participants must complete specific computational challenges to validate and add new blocks. Explanation

Explanation

d: Validators are pre-selected based on their reputation and identity Explanation

Explanation

In a Proof of Stake blockchain consensus mechanism, how are validators typically chosen to create a new block?

a: By solving complex cryptographic puzzles first. Explanation

Explanation

b: Based on the number of coins they commit as collateral. Explanation

Explanation

c: Based on a rotational system where every node gets a turn. Explanation

Explanation

d: Through a voting system where nodes vote for their favorite validator. Explanation

Explanation

Which consensus algorithm is more energy-efficient?

a: Proof of Work (PoW) Explanation

Explanation

b: Proof of Stake (PoS) Explanation

Explanation

c: Both consume equal energy Explanation

Explanation

d: Neither consumes energy Explanation

Explanation

What is a potential drawback of the Proof of Work consensus mechanism?

a: It is vulnerable to 51% attacks due to randomness. Explanation

Explanation

b: It discourages miner competition. Explanation

Explanation

c: It requires significant computational power and energy. Explanation

Explanation

d: It can only work on mobile networks. Explanation

Explanation

What does 'staking' refer to in Proof of Stake?

a: Storing data in blocks before linking them. Explanation

Explanation

b: Locking up a certain amount of cryptocurrency to gain validation rights. Explanation

Explanation

c: Paying transaction fees to miners. Explanation

Explanation

d: Creating new wallets for each transaction. Explanation

Explanation