BlockBeats reported that on August 13, Slow Mist founder Yu Xian 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 hash power, but many community members believe it controls about 33% of the hash power. This dispute is not easy to verify; to definitively prove a 51% attack, one would need to initiate a double spending attack test.
According to previous reports, the 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 Monero network's hash rate (approximately 3.01 GH/s). Once exceeding 51%, Qubic could reject blocks from other mining pools, leading to chain reorganization, double spending, or transaction censorship. The Monero community has launched resistance and defensive actions, while Qubic claims this move is a technical demonstration and not a malicious attack.
