Blockchain project Qubic has announced that its recent 51% control of Monero’s hash rate is part of a planned experiment, following concerns from the community regarding the sudden hash power concentration.
Control of Monero Hashrate
A 51% hash rate control indicates that the entity has majority mining power, allowing it potential influence over transaction confirmations. While often seen as a threat to decentralization, Qubic insists this was not an attack but a coordinated test.
Community Reaction
The Monero community, known for its strong privacy and decentralization principles, expressed immediate concerns upon learning of the 51% threshold being breached. Many feared the possibility of double-spending attacks or transaction censorship. Qubic's statement suggests the move is not hostile, though the precise goals of the experiment remain undisclosed.
Awaiting Full Disclosure
As of now, Qubic has not provided a detailed explanation, promising to share more information soon. In the meantime, Monero supporters and miners remain on alert. Events of 51% control are rare in established networks like Monero, and while Qubic frames this as research, the incident highlights the delicate balance between blockchain innovation and security.
The incident regarding Qubic's 51% hash rate control of Monero raises critical questions about security and decentralization in the crypto community. The awaiting of further clarification becomes a central theme for discussions among market participants.
