Privateness-focused cryptocurrency community Monero (XMR) is battling a possible community management try by a brand new blockchain venture known as Qubic, led by IOTA co-founder Sergey Ivancheglo (CFB).
Qubic incentivizes CPU mining of Monero to gas its token financial system with an progressive system it calls “helpful proof-of-work” (uPoW). On this course of, mined XMR is transformed into USDT, which is then used to buy and burn QUBIC tokens, aiming to create a deflationary mannequin.
In line with the info, since Could 18th, Qubic’s share of the worldwide hash fee on Monero has elevated from lower than 2% to over 27%. This briefly made Qubic the biggest Monero mining pool, however it fell to seventh place after a backlash from the neighborhood.
Ivancheglo introduced on social media platform X that he plans to grab 51% of Monero’s whole hash energy between August 2nd and August thirty first, 2025. He claimed this transfer was meant to showcase Qubic’s know-how and had no malicious intent. Nonetheless, he warned that this transfer may result in severe penalties on the Monero community, comparable to block rejections, the creation of orphaned blocks, and transaction delays.
Ivancheglo additionally stated that beginning August 2nd, Qubic will not publicly disclose its mining pool hash fee on Monero, “to focus on the danger of 51% dominance.” “Similar to the Monero neighborhood, I’m additionally searching for a countermeasure towards Qubic’s 51% dominance,” he stated, including, “That is important for the crypto trade as a result of sooner or later we may all face a malicious assault.”
There have been allegations throughout the Monero neighborhood that Qubic is renting out its hashing energy or utilizing bots, however no definitive proof has been discovered but. Unstoppable Pockets analyst Dan Dadybayo stated the scenario is extra financial than technical: “Ivancheglo is creating incentives for Monero miners to go away the community of their very own volition.”
Dadybayo recommended that Monero’s every day safety finances is round $130,000, however for a value of simply $7,000-$10,000, one celebration may purchase majority management of the community.
*This isn’t funding recommendation.
