Envisage a situation where you are developing a high-throughput application where multiple threads are reading and writing to a data structure. Which collection would you select to store data and why?

In this scenario, a ConcurrentHashMap is the preferred choice. It's designed for concurrent access by multiple threads, making it suitable for high-throughput applications. Unlike ArrayList, LinkedList, and HashSet, it provides thread-safety without sacrificing performance. It achieves this through a mechanism that allows multiple threads to read concurrently while providing efficient locking for write operations.