Monero Network’s Resilient Defense: How Miners Thwarted a Hasrate Takeover
Main Idea
The Monero network successfully defended against a potential 51% attack by Qubic, showcasing the strength of its decentralized community and resilient architecture.
Key Points
1. Qubic's hashrate surged to 40% of Monero's total network power, raising concerns of a potential 51% attack.
2. Monero miners coordinated a boycott, redirecting their computational power to independent pools, reducing Qubic's hashrate to under 15%.
3. Qubic claimed the surge was a 'stress test' to raise awareness about 51% attacks, but skeptics noted a 70% increase in Qubic's token value during the event.
4. Monero's ASIC-resistant RandomX algorithm and strong community played a crucial role in defending the network.
5. Concerns remain about Monero's long-term security budget and vulnerability to future well-resourced attacks.
Description
BitcoinWorld Monero Network’s Resilient Defense: How Miners Thwarted a Hasrate Takeover The world of cryptocurrency is a battleground where the ideals of decentralization are constantly put to the test. Recently, the Monero network , renowned for its privacy features, faced a significant challenge: an audacious attempt to seize control of its computational power. What followed was a remarkable display of community resilience, demonstrating how a dedicated user base can become the ultimate guardi...
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