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Qubic Response to Monero 51% Attack Event: Continuing with Monero Experiment as Planned, Details to be Revealed in Due Course
BlockBeats News, August 12th, Qubic responded to the Monero 51% attack incident, stating, "The Monero (XMR) experiment is proceeding as planned, and everything will be revealed at the appropriate time."
Previously reported, IOTA co-founder Sergey Ivancheglo's project Qubic rapidly accumulated a large amount of Monero (XMR) hash power through the "useful Proof of Work (uPoW)" mechanism. On August 12th, Qubic briefly controlled 52.72% of the Monero network's hash rate (about 3.01 GH/s). Once exceeding 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 has described this action as a technical demonstration and not a malicious attack.
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