Hey! Can you imagine someone taking control of a piece of the internet to demonstrate a flaw? Well, that just happened with Monero, and now the founder of Cardano is using that scare to tell us why his crypto is the best. 🚨
The scare from Monero: The 51% that set off the alarms
It turns out that a company called Qubic made a bold move: they took control of more than 51% of the computing power (the 'hashrate') of Monero (XMR), a crypto famous for its privacy. The move was not to steal, but to demonstrate that the Monero network had a brutal vulnerability. Imagine that a group can control half of the transactions on a network. A disaster! 😱 This generated a panic that crashed the price of XMR and shook the entire crypto community.
Cardano steps up
This is where Charles Hoskinson, the creator of Cardano, comes in. He did not stay silent and used this incident as the 'moment of truth' for his project. Hoskinson stated that Cardano's future privacy blockchain, called Midnight, has a special defense (called 'Minotaur') that would prevent this type of attack. According to him, their technology is more robust and secure than that of Monero. This announcement lit the fuse. 🔥
How did it affect Cardano (ADA)?
The news had an immediate effect: the price of ADA rose by almost 14% in 24 hours and the transaction volume skyrocketed. The community saw this as a sign of confidence. Additionally, technical analysts are seeing a symmetrical triangle in the price chart of ADA, and if it breaks that barrier, we could be talking about gains of over 300%. Crazy! 🤯
Beyond the move, what is the real impact?
This is not just a crypto fight. This incident with Monero reminds us that security is king in this world. That a network can be taken over by a single group, even for a 'good cause', highlights the flaws that still exist. Cardano's bet with its Minotaur technology and the Midnight project could be a turning point, not just for ADA, but for the entire future of cryptocurrencies that seek to be private and secure.
We need to be very alert because if Cardano manages to establish itself as the safest option in the privacy space, its growth could be explosive. Could this be the beginning of a new rally for $ADA ?
