SlowMist Cosine: The proportion of Monero's hash rate controlled by Qubic remains questionable and difficult to verify.
SlowMist founder Yu Xian commented on the 51% attack on Monero, saying that there are many doubts in the community about whether it is a true 51% attack in the real sense, but there are no doubts about the reorganization of blocks (such as 6 blocks). The Qubic mining pool claims to control 51% of the hash power, but many community members believe they control approximately 33% of the hash power. This debate is not easy to prove, and to truly confirm a 51% attack, a double spend attack test must be initiated.
Previously reported, IOTA co-founder Sergey Ivancheglo's project Qubic quickly accumulated a large amount of Monero hash power through the "useful Proof of Work (uPoW)" mechanism. On August 12, Qubic briefly controlled 52.72% of the hash rate of the Monero network (about 3.01 GH/s). Once it exceeds 51%, Qubic can reject blocks from other mining pools, leading to chain reorganization, double spending, or transaction censorship. The Monero community has launched resistance and defense actions, while Qubic claims that this is a technical demonstration and not a malicious attack.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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