If a large number of miners leave a Proof of Work network, what is the most likely immediate effect on mining difficulty?

Difficulty will be reset to zero to attract new miners

Difficulty will remain unchanged because it is fixed by the protocol

Difficulty will increase to compensate for the reduced hash rate

Difficulty will decrease to maintain the target block time

A blockchain network's hash rate has become concentrated among three large mining pools. A developer proposes a change to the mining protocol to reduce centralization. Which option best addresses the root cause of centralization while maintaining network security?

Lower the mining difficulty to make it easier for small miners to find blocks and earn rewards.

Increase the block reward to attract more individual miners, hoping they will compete with the large pools.

Require all miners to use a specific mining software that prevents pool hopping.

Implement a mechanism that reduces the advantage of economies of scale, such as memory-hard algorithms that are less efficient on specialized hardware.

Why might a jurisdiction impose a ban or moratorium on cryptomining?

To encourage the use of Proof of Stake instead of Proof of Work

To reduce strain on the local electricity grid and meet environmental targets

To increase the price of cryptocurrencies by reducing supply

To protect miners from volatile cryptocurrency prices

EC-CouncilBlockchain Developer Certification

Domain 4Objective 1

Cryptomining and the Mining Ecosystem BDC Practice Questions (Page 6)

Part of the Cryptomining, Tokenization, and Digital Assets domain, which makes up ~10% of our current practice bank.

52questions here

11free pages

11concepts

Questions 26–30

26foundation · easy
Which type of mining hardware is specifically designed for a single hashing algorithm and offers the highest hash rate per unit of energy?
Select an answer first
27foundation · easy
In the cryptomining ecosystem, which participant primarily designs and sells specialized equipment optimized for mining specific cryptocurrencies?
Select an answer first
28foundation · easy
If a large number of miners leave a Proof of Work network, what is the most likely immediate effect on mining difficulty?
Select an answer first
29expert · hard
A blockchain network's hash rate has become concentrated among three large mining pools. A developer proposes a change to the mining protocol to reduce centralization. Which option best addresses the root cause of centralization while maintaining network security?
Select an answer first
30foundation · easy
Why might a jurisdiction impose a ban or moratorium on cryptomining?
Select an answer first

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Cryptomining and the Mining Ecosystem BDC Practice Questions (Page 6)

Questions 26–30

Which type of mining hardware is specifically designed for a single hashing algorithm and offers the highest hash rate per unit of energy?

In the cryptomining ecosystem, which participant primarily designs and sells specialized equipment optimized for mining specific cryptocurrencies?

If a large number of miners leave a Proof of Work network, what is the most likely immediate effect on mining difficulty?

A blockchain network's hash rate has become concentrated among three large mining pools. A developer proposes a change to the mining protocol to reduce centralization. Which option best addresses the root cause of centralization while maintaining network security?

Why might a jurisdiction impose a ban or moratorium on cryptomining?

Keep studying — Cryptomining, Tokenization, and Digital Assets