Monero Faces Potential Hashrate Centralization Risks Amid Qubic Mining Pool Takeover Attempt
Main Idea
Monero is facing a hashrate takeover attempt by the Qubic mining pool, which threatens network decentralization and could impact transaction confirmations and mining profitability.
Key Points
1. Qubic, led by Sergey Ivancheglo, is attempting a hashrate takeover by incentivizing CPU mining and rejecting blocks from competing pools.
2. If Qubic controls over 51% of Monero's hashrate, it could reject blocks mined by others and force protocol changes, undermining network integrity.
3. Qubic will cease reporting its hashrate, obscuring the actual mining power it controls, which raises transparency concerns.
4. The Monero community is concerned about potential transaction delays, censorship, and market manipulation if Qubic gains excessive control.
5. Qubic's strategy has caused its hashrate share to decline from the top position to the 7th largest Monero mining pool.
Description
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