#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).