Qubic Hits 52.72 % Of Monero’s Total Hashrate

The Qubic network (QUBIC) has made a significant splash in the cryptocurrency space by temporarily achieving 52.72% of Monero’s (XMR) total hashrate, reaching a computing power of 3.01 GH/s. This notable technical accomplishment underscores the project's increasing impact and mining capabilities.

In Brief

• Qubic temporarily reached 52.72% of Monero’s hashrate with 3.01 GH/s, showcasing substantial computing power.
• The project intends to sustain over 51% hashrate dominance between August 2 and August 31, 2025, as part of a planned network test.
• Sergey Ivancheglo and Shai collaborated on a technical documentation of results, addressing claims of malicious attacks.
• Despite a DDoS attack that briefly impacted its pool power, many Monero miners migrated to Qubic.

A Hashrate Peak That Sparks Debate

For a few crucial minutes, Qubic demonstrated its capacity to mobilize considerable computing power on Monero, a network that had been on alert for several days. This peak at 3.01 GH/s marks a significant technical achievement, especially considering the network had previously reached 2.3 GH/s, representing over 45% of Monero's total hashrate. This surge is part of a broader strategy announced by Sergey Ivancheglo, a key figure in Qubic. The project aims to target and maintain over 51% hashrate dominance during planned "marathons" from August 2 to August 31, 2025, to highlight its technical prowess. Qubic's approach relies on economic incentives. By rewarding miners with QUBIC tokens, the project attracts mining operators to its pool. The mined Monero is then converted into stablecoins and subsequently exchanged for Qubic tokens, creating a sustainable economic model to support this computing power.

A Technical Collaboration Under Scrutiny

Discussions between Come From Beyond (Qubic's leader) and Shai, a former Kaspa (KAS) developer, reveal a collaborative effort behind this demonstration. These technical exchanges are designed to meticulously document and scientifically validate the results, moving beyond simple announcements. This methodical approach contrasts with accusations from some Monero community members who interpreted the event as a malicious attack. Qubic, on the other hand, presents the operation as a network stress test aimed at identifying potential vulnerabilities before malicious actors can exploit them.

Massive Migration of Monero Miners

A noteworthy phenomenon during this period was the spontaneous migration of Monero miners to Qubic pools. This shift highlights the mining market's sensitivity to economic incentives. Earlier in the week, the Qubic mining pool reportedly experienced a distributed denial of service (DDoS) attack, causing its hashrate to plummet from 2.6 GH/s to 0.8 GH/s. This volatility illustrates the delicate power balances within cryptocurrency networks, a challenge Qubic addressed by rapidly enhancing its network resilience.

Implications for Monero’s Security

Temporarily surpassing the 51% hashrate threshold is a major event in the crypto ecosystem. Theoretically, controlling this level of hashrate grants the ability to reorganize the blockchain, execute double-spend attacks, or censor transactions. However, Qubic asserts that its demonstration is intended to bolster Monero's security rather than compromise it. The first planned takeover test is scheduled for August 2, 2025, indicating a transparent and structured approach.

The Economic Model of Qubic in Question

Qubic operates on a Useful Proof of Work (UPoW) system, which repurposes mining energy into artificial intelligence computations. It has been verified by CertiK as the fastest blockchain, boasting a peak throughput of 15.52 million transactions per second (TPS). This technical approach provides an economic justification for Qubic's Monero mining strategy. The revenues generated not only fuel the QUBIC ecosystem but also support distributed computing operations, pushing the boundaries between different blockchain networks.

FAQ

Did Qubic really attack Monero? No, according to official statements, the operation was a planned stress test designed to identify vulnerabilities within the Monero network. What does controlling 51% of the hashrate mean? Theoretically, controlling 51% of the network's hashrate allows for blockchain reorganization, double-spending of coins, or the censorship of transactions, posing a significant risk to network security. Why are miners migrating to Qubic? Qubic attracts miners by offering attractive economic incentives, primarily through rewarding them with QUBIC tokens in addition to any traditional mining revenues they might earn. Is this situation temporary? The specific experiment was planned to run from August 2 to August 31, 2025. However, recent developments suggest the situation is dynamic and evolving. What are the risks for Monero holders? In the event of a prolonged takeover scenario, temporary network disruptions could occur. However, no loss of funds is anticipated for Monero holders.

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Source: Qubic Hits 52.72% Of Monero’s Total Hashrate - Cointribune

Crypto Market AI's Take

This development highlights the increasing sophistication and power of mining networks within the cryptocurrency landscape. Qubic's strategy of leveraging its hashing power and economic model to influence established networks like Monero demonstrates a novel approach to network participation and potentially, security. As AI continues to integrate into blockchain technology, we can expect more such innovations that blend computational power with economic incentives, reshaping how decentralized networks interact and evolve. For those interested in the intersection of AI and cryptocurrency, understanding these dynamics is crucial for navigating the future of digital assets.

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