Monero Under 51% Attack as Qubic Pool Gains Majority Hashrate

Key Points

1. Qubic mining pool briefly controlled over 52% of Monero's hashrate, executing a 51% attack.

2. The attack led to an 8% drop in XMR price and a 4% rise in QUBIC token value on the day.

3. Qubic's approach involves rewarding miners with QUBIC tokens, creating an economic ecosystem to support its computing power.

4. Debate continues regarding the true extent and motives behind the attack, with some skepticism about its success.

5. The incident highlights ongoing concerns about network security and resilience in the crypto community.