Qubic community, Monero’s 51% attacker, votes to target Dogecoin next

The community for Qubic, the AI-focused blockchain project that executed a 51% attack on Monero this week and gained majority control of the network’s computing power, has voted to target Dogecoin (DOGE) next.

Sergey Ivancheglo, the founder of the Qubic network, asked the Qubic community which application-specific integrated circuit (ASIC)-enabled, proof-of-work blockchain the group should target with its next 51% attack, including DOGE, Kaspa (KAS), and Zcash (ZEC).

“The Qubic community has chosen Dogecoin,” Ivancheglo, who goes by the online handle Come-from-Beyond, wrote in a Sunday X post announcing the results of the vote.

Dogecoin, which has a market cap of over $35 billion, received over 300 votes, more than all the other networks combined.

Source: Come-from-Beyond

Qubic’s successful 51% attack on Monero, a privacy blockchain, took the crypto community by surprise, and the AI-focused network targeting another proof-of-work cryptocurrency could signal troubling implications for digital asset blockchains reliant on mining.

Related: Monero ‘economic attack’ receives strong community response

Qubic successfully gains hashrate dominance over the Monero network

The Qubic team announced that it gained majority control over the computing power used to secure the Monero network on Monday.

Qubic’s mining pool successfully reorganized six blocks following a month-long war with other Monero miners for control of the network’s hashrate.

The Qubic mining pool commands a hashrate of about 2.32 gigahashes per second (GH/s) at the time of this writing, according to MiningPoolStats.

The Qubic mining pool controls the most hashrate on the Monero network. Source: MiningPoolStats

“The Monero network’s core functionality remains intact. Its privacy, speed, and usability have not been compromised,” the Qubic team wrote on Tuesday following the takeover.

“However, the end goal is for the Monero protocol’s security to be provided by Qubic’s miners,” the team continued.

Following the attack, crypto exchange Kraken temporarily suspended Monero (XMR) deposits on the platform, citing the “potential risk to network integrity” from the 51% takeover of Monero by a single miner.

Despite the temporary pause on Monero deposits, the exchange is keeping XMR withdrawals and trading open and told users that XMR deposits will return once the exchange deems it “safe,” according to an announcement from the company.

Magazine: AI may already use more power than Bitcoin — and it threatens Bitcoin mining

Source