Monero community pushes back as Qubic’s 51% hash rate bid falters

A fast‑moving combat implicit mining powerfulness consumed Monero’s play aft Sergey Ivancheglo utilized X to beforehand an “economic” run to predominate the network’s hashrate, which was met by assemblage resistance.

The combat escalated aft Ivancheglo, the fig down Qubic and amended known arsenic Come‑from‑Beyond (CFB), confirmed the takeover intentions with an incentive-driven 51% attack.

As a response, the assemblage gathered successful the “supportxmr.com” excavation to clasp the bulk of Monero’s mining capacity.

The 51% takeover plan

Qubic’s plan surfaced crossed X and Reddit arsenic a pay‑to‑switch mining campaign. By offering richer payouts than mean pools, Qubic aims to pull capable Monero miners to its excavation to surpass 51% of the web hash, a threshold that would alteration it to orphan rivals’ blocks, hold confirmations, and perchance censor transactions. 

Ivancheglo publicly flagged Aug. 2 to Aug. 31 arsenic a model of elevated hazard and urged exchanges to rise Monero deposit confirmations, framing the determination arsenic a precaution during their “test.”

On Reddit, Monero miners and users viewed the run arsenic a unrecorded 51% onslaught attempt, driven by incentives alternatively than a codification exploit. Posts successful forums dedicated to the Monero assemblage connected Reddit tracked Qubic’s excavation stock and warned that attraction could alteration orphaned blocks, delayed confirmations, oregon transaction censorship. 

A thread titled “Qubic/Sergey Ivancheglo 51% onslaught plans” complained of “silence from astir devs,” portion another, “The timeline for the 51% onslaught is August,” claimed the pool had mined 31 of the past 100 blocks and urged a assemblage response.

Community reaction

Analyst Dan Dadybayo explained connected an X thread however Monero was nether onslaught done an inducement campaign, arguing that intent is secondary to the hazard of centralization erstwhile a azygous excavation tin outbid the remainder of the web for hashpower. 

His follow‑ups described wherefore Monero’s CPU‑friendly RandomX and highly mobile miners marque specified an onslaught plausible if incentives are aligned. 

The Monero subreddit’s code oscillated betwixt alarm and organization.

Members of the Monero assemblage highlighted connected X and Reddit Qubic’s emergence into the apical tier of pools done richer payouts and warned that waiting for 40% and 50% dominance would beryllium excessively late.

The absorption led to the assemblage rallying down the mining excavation “supportxmr.com” to conflict Qubic successful an effort to pb Monero’s mining capacity. As of property time, the 4,970 miners composing the pool accounted for 28.7% of the web hash rate, having mined 36 retired of the past 100 blocks.

Nevertheless, a Qubic spokesperson told CryptoSlate that the 51% takeover volition inactive beryllium attempted, adding:

“The extremity is not to harm, specified arsenic tx reversals, but to marque each miner connected the Monero web articulation the QUBIC mining pool.”

Furthermore, Qubic highlighted a June proposal successful which the assemblage indispensable determine whether different blocks should beryllium orphaned successful the lawsuit of a 51% attack. Among what the connection portrays arsenic benefits are reduced fees for Monero users, boosted gross for miners, integration with Qubic miners, and a “practical trial of a 51% onslaught and anticipation to analyse its interaction connected XMR price.”

As of property time, determination is nary commentary successful the proposal.

Benevolent attack

Ivancheglo dismissed alarm arsenic “fear‑mongering,” adjacent arsenic his task urged exchanges to summation Monero confirmation thresholds, escalating interest crossed Reddit and crypto Twitter. 

He framed the effort arsenic manufacture research. He said helium was “trying to find a countermeasure to Qubic’s 51% domination,” a assertion that did small to calm Monero users who disquieted the “demo” could bash existent damage. 

In addition, Ivancheglo said:

“This is precise important to the #cryptocurrency manufacture due to the fact that 1 time we each whitethorn look a non-benevolent attack.”

The uneven code has led to rampant speculation that Qubic whitethorn privation to normalize a majority‑hash posture portion portraying it arsenic benevolent.

The occurrence highlights that proof-of-work networks tin beryllium pressured not lone by earthy hashrate rentals but besides by token-driven inducement loops that outpay integrated mining.

The station Monero assemblage pushes backmost arsenic Qubic’s 51% hash complaint bid falters appeared archetypal connected CryptoSlate.