BlockBeats news, on August 13th, Yu Xian, the founder of Slow Fog, commented on the 51% attack incident on Monero, expressing that there are many doubts in the community about whether it is truly a 51% attack, but there are no doubts regarding the reorganization of blocks (such as 6 blocks). Qubic Mining Pool claims to control 51% of the computing power, but many community members believe it controls about 33% of the computing power. This debate is not easy to verify, and to substantiate a 51% attack, a double spending attack test must be initiated. Previous reports mentioned that IOTA co-founder Sergey Ivancheglo's project Qubic quickly accumulated a large amount of Monero computing power through the "useful proof of work (uPoW)" mechanism. On August 12th, Qubic briefly controlled 52.72% of the Monero network's hashrate (approximately 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 initiated resistance and defense actions, while Qubic claims this move is a technical demonstration and not a malicious attack.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
1 Likes
Reward
1
2
Repost
Share
Comment
0/400
WDW245
· 08-13 05:54
buy the dip😁😁😁
View OriginalReply0
LongAndShortSuckers
· 08-12 18:24
According to BlockBeats news, on August 13, Yu Xian, the founder of Slow Fog, commented on the 51% attack incident on Monero, stating that the community has many doubts about whether it is truly a 51% attack in the real sense, but there are no doubts about the reorganization of blocks (for example, 6 blocks). The Qubic Mining Pool claims to control 51% of the Computing Power, but many community members believe it controls about 33% of the Computing Power. This debate is not easy to verify; to definitively prove a 51% attack, a double spending attack test must be initiated. Previously reported, IOTA co-founder Sergey Ivancheglo's project Qubic rapidly accumulated a large amount of Monero Computing Power through the "Useful Proof of Work (uPoW)" mechanism. On August 12, Qubic briefly controlled 52.72% of the Monero network's hashrate (approximately 3.01 GH/s). Once it exceeds
Slow Fog Cosine: The Qubic control of the Monero coin computing power ratio remains questionable and is difficult to verify.
BlockBeats news, on August 13th, Yu Xian, the founder of Slow Fog, commented on the 51% attack incident on Monero, expressing that there are many doubts in the community about whether it is truly a 51% attack, but there are no doubts regarding the reorganization of blocks (such as 6 blocks). Qubic Mining Pool claims to control 51% of the computing power, but many community members believe it controls about 33% of the computing power. This debate is not easy to verify, and to substantiate a 51% attack, a double spending attack test must be initiated. Previous reports mentioned that IOTA co-founder Sergey Ivancheglo's project Qubic quickly accumulated a large amount of Monero computing power through the "useful proof of work (uPoW)" mechanism. On August 12th, Qubic briefly controlled 52.72% of the Monero network's hashrate (approximately 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 initiated resistance and defense actions, while Qubic claims this move is a technical demonstration and not a malicious attack.