The Qubic community claims that it has majority control over Monero's hashrate and plans to target Dogecoin, raising industry scrutiny.
Qubic's Claims About Monero's Hashrate Control
The Qubic protocol claims it gained a **majority control of Monero's hashrate**, implying potential risks. The community's plan to target **Dogecoin next** has drawn attention for its strategic implications.
Sergey Ivancheglo, the leader of Qubic, stated, 'We recovered, ultimately controlling majority hashrate on Monero.' This claim caused uncertainty despite counterclaims of inaccuracy by independent researchers.
Kraken Suspends Monero Deposits
Concerns over security led Kraken to suspend Monero deposits to protect network integrity. Monero experienced a 6.65% price drop, indicative of the market's volatile response.
Lessons from Historic 51% Attack Cases
Past examples, such as [Ethereum Classic's 51% attacks](https://twitter.com/Cointelegraph/status/1956355360073146859), illustrate the consequences of similar events, including network destabilization and theft. Qubic's claims have been met with skepticism.
Experts question the sustainable **majority control** of Monero by Qubic, highlighting potential outcomes while comparing historical trends of mining centralization effects.
Qubic's plans for controlling Monero's hashrate and targeting Dogecoin underline significant security and market stability issues, raising concerns among cryptocurrency market participants.
