Qubic conducted an experiment gaining control over 52% of the Monero network hash rate, raising significant interest and questions about network security.
Qubic Experiment
Qubic ran a two-hour experiment, during which it secured roughly 52% of the network's total hash rate, triggering chain reorganizations and generating multiple orphaned blocks.
Test Results
As a result of the test, Qubic mined about 80% of all Monero blocks, producing 750 XMR and 7 million XTM in rewards. The total amount of XTM reached 17.2 billion, part of which was burned, valued at approximately $55,000 at current market prices. Additionally, 62.2 billion QUBIC tokens were distributed to miners and hash rate providers, valued at around $200,000.
Impact on Monero Network
Network activity during the test reportedly peaked at 2.71 gigahashes per second, with 5,506 Monero blocks mined during the timeframe. Independent blockchain researchers are continuing to examine Qubic's impact on Monero's security and decentralization.
The Qubic experiment raises important questions about Monero's network security and decentralization, with further analysis by blockchain experts ongoing.
