Monero, a private cryptocurrency network, is a living moment of collective anguish. According to the team behind Qubic (the mining pool that has promised to monopolize the Monoo block) and its CEO, the project reached a maximum hashrate of up to 2.77 GH/s. That said, data on the distribution of Monero Hashrate is inconsistent across various platforms. Part of this suggests that this attack is statistically impossible for now.
According to the Epoch 172 Report, the report called «Monero Experiment«, Qubic already finds a total of 4285 blocks on the network, controlling more than half of the network’s power. The updated source indicates that the pool is already losing nearly 7000 blocks. July 12th this year The Mining Pool CEO said the attacks of 51% would be a reality.
Qubic appears to have surpassed 51% of Monero. I’m waiting for an independent confirmation. Meanwhile, the Monero team is honing the details of protection against 51% offensive. Many accused the anonymous currency of sponsoring three letter agencies. What do you think now after Monero has prepared for future struggles with those institutions?
Sergey Vivancheglo, leader of Qubic and co-founder of IOTA.
According to images that could not specify a source, Qubic has 52% of the network’s hashrate, in particular.
As reported by Cryptonoticias, Sergey Vivancheglo was the intention to attack Monero. It is benevolent, part of a concept test, and experiments with XMR work tests.
However, some communities are concerned that this concentration stems from the introduction of orphan blocks or the implementation of dual costs on private cryptocurrency networks. It appears that community concerns are realising. According to Peter Todd, the Monero blockchain is already seeing a reorganization in order of transactions.
The source for explaining the distribution of Monero Hashrate is Miningpoolstats. However, data on this platform is inconsistent and is mediated that it is different every day. At the time of writing, the database shows an error in editing the Qubic hashrate, saying that the three pools mentioned above accumulate almost 80% of Monero’s hash power. Other platforms such as Hashratrate.No and MiningPoollist show incomplete lists of mining pools.
The contradiction said It could be a deliberate move by a collaborator on the pool page.because you do not display update data for this pool. They will do that as an opportunity to avoid spreading panic in the community.
When this article is written, figures like Charles Guillemet and Peter Todd are successful and full-fledged, as they are successful at how plausible the attack on Monero is.
I write in cryptootics that this “experiment” uses dual economic incentives to inflate the pool user base.
It is possible to create XMRs from a pool led by Sergey Vivancheglo, but you can get payments for your contributions in Qubic Tokens. Therefore, the company that manages the pool exists to sell, as it is owned by XMR Coin.
Then he buys more tokens and burns, The price of this cryptocurrency will rise (and potentially lower XMR). These incentives for mining pools appear to be judged by the hash rates accumulated by Qubic and their rapid increase.
The 51% attack on Monero represents a historic milestone for the security of cryptographic actions. Although rare, such attacks, important cryptocurrencies, have been documented in the past.
The victim was the Ethereum Classic. It is a reorganization of up to 14,000 blocks, putting the immutability of its accounting records at severe risk.
