Dogecoin focused by Qubic group after 51% assault on Monero 

Uncover the newest developments within the Altcoin area. This article dives into: “Dogecoin targeted by Qubic group after 51% attack on Monero “.

Qubic’s group has voted to make Dogecoin its subsequent goal, days after the group claimed majority management of Monero’s community.

Summary

• Qubic took over Monero’s community and reorganized six blocks.
• Its group voted Dogecoin as the subsequent proof-of-work goal.
• A 51% assault might elevate dangers for Dogecoin’s safety and customers.

Project founder Sergey Ivancheglo shared the replace on Aug. 17 after a profitable assault on Monero (XMR). Qubic (QUBIC) had introduced final week that its mining pool had achieved a 51% assault on Monero.

The group reorganized six blocks, successfully proving it might rewrite blockchain historical past. Shortly after, Ivancheglo requested the Qubic group to decide on one other ASIC-enabled proof-of-work community to assault subsequent. While Monero continued to operate, the transfer compelled Kraken alternate to pause deposits and raised fears of deeper disruption.

In a public vote, Dogecoin was chosen over Zcash (ZEC) and Kaspa (KAS), receiving greater than 300 votes, greater than all different choices mixed. With a market capitalization above $35 billion, Dogecoin now faces the potential for the same assault.

What a Dogecoin assault might imply

A 51% assault permits the controlling occasion to reorganize blocks, cease sure transactions, or try double-spending. Qubic at present runs a pool with about 2.3 GH/s of Monero hashrate, sufficient to maintain management of its community. If the identical degree of energy had been utilized to Dogecoin, the dangers might be vital.

Qubic describes its actions as “stress tests” designed to show the power of its personal mining mannequin, often called helpful proof-of-work. Profits from the pool are used to purchase and burn QUBIC tokens. The challenge has stated it doesn’t intend to interrupt Monero or Dogecoin, however the experiments have raised new questions concerning the security of proof-of-work methods when mining turns into concentrated.

No timeline has been shared for the transfer towards Dogecoin, however the announcement has already drawn consideration to the coin’s safety and the way its builders could reply.

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