#xmr $XMR
🚫 Mining pool
#Qubic took control of > 51% of Monero's hash rate – details
➥ Key points from the report:
❗️With control over more than 51% of the hash rate,
#Monero – Qubic was able to rewrite part of Monero's history. 6 blocks were replaced, and 60 were deemed invalid.
▪ At certain hours, Qubic mined up to 80% of Monero blocks.
▪ During the experiment period, Qubic mined 5506 blocks, earning 750 XMR and 7,000,000
#XTM – approximately $240,000.
▪ Qubic's peak power reached 2.71 GH/s – this is 52% of Monero's hash rate.
▪ Thanks to bonuses and the rising price of the QUBIC token, miners working through Qubic earned almost 4 times more than if they had mined Monero directly.
▪ The experiment is an “economic demonstration” of the capabilities of
#Useful Proof of Work.
➥ Risks for Monero, with > 50% hash rate Qubic can:
▪ Rewrite the blockchain (chain reorganization).
▪ Perform double spend.
▪ Censor transactions (not include them in blocks).