Monero's recent 18-block chain reorganization has raised alarms among security experts, creating potential vulnerabilities for double spending.
Double-Spending Issue
The reorganization of the Monero network invalidated over thirty minutes of transactions, raising doubts about the standard 10 confirmations typically used by users to confirm transaction completions.
Causes of Blockchain Reorganization
Reorganizations occur when multiple chain versions emerge simultaneously. The consensus mechanism of the network determines which chain is accepted. This significant chain modification suggests a potential accumulation of hash power or coordinated actions.
Outlook and Technical Analysis
From a technical perspective, Monero retains an optimistic outlook for the future. Blocks are typically created every two minutes, and a breakout above $276.50 is possible if trading volumes are sustained.
The situation with Monero's blockchain reorganization highlights the need for enhanced network security in light of potential double-spending attacks.
