Monero Under Siege: Rival Blockchain Threatens 51% Attack – Privacy Coin at Risk?

Monero’s vaunted privacy could be its downfall as a competitor chain eyes a hostile takeover of its network. The threat? A 51% attack—the crypto equivalent of a corporate raid—with enough hashpower to rewrite transaction history.

How real is the danger?

The rival blockchain, unnamed but allegedly flush with mining capacity, could theoretically hijack Monero’s proof-of-work consensus. Unlike Bitcoin’s ASIC fortress, Monero’s ASIC-resistant algorithm might now be its Achilles’ heel.

Market reactions? Predictably panicked. XMR holders are facing the age-old crypto dilemma: privacy vs. security. Meanwhile, Wall Street ‘experts’ are suddenly Monero maximalists—funny how a little FOMO spices up their regulatory compliance sermons.

Will Monero’s community rally to defend its chain? Or will this be the first high-profile casualty in crypto’s ongoing hash war? Grab your popcorn—and maybe a hardware wallet.

In Brief

• Qubic, a rival blockchain project, plans a 51% attack on Monero starting August 2 to promote its “Useful Proof of Work” system.
• The Monero community is alarmed, with fears of double-spending, transaction censorship, and damage to trust in the network.
• While Qubic claims it’s a tech demo, many in crypto view it as a major stress test for Monero and PoW systems overall.

Qubic seeks to prove a point

The attack isn’t coming from a rogue hacker or state-backed actor, but from Qubic, a newer layer-one project helmed by Sergey Ivancheglo, also known as CFB, a co-founder of IOTA. Qubic has made no secret of its intentions: starting August 2, it will attempt to control over half of Monero’s mining power to “demonstrate” its new consensus mechanism, Useful Proof of Work (uPoW).

Qubic’s architecture allows its AI-based miners to secure its own blockchain while simultaneously mining Monero. The profits from Monero mining are then recycled into QUBIC token burns, a mechanism meant to create a self-reinforcing deflationary loop.

Supporters frame the upcoming operation not as an attack, but as a showcase. CFB claimed:

The Monero community is divided

Qubic is now approaching 45% of Monero’s hashrate, uncomfortably close to the 51% mark that WOULD allow it to censor transactions, perform double spends, or destabilize block consensus.

Some users on r/monero are calling this a “spoofed takeover,” alleging that Qubic inflates its hashrate metrics to create psychological pressure. Others fear more concrete consequences, with calls to action ranging from pool migration to emergency protocol adjustments.

Stress test or sabotage?

The last time Monero faced a mining centralization crisis, when MineXMR controlled over 40% in 2022, community coordination successfully defused the risk. Whether that strategy can work again is uncertain.

Some argue that Qubic is exposing fundamental flaws in Proof-of-Work networks. Others suggest the real test will be how Monero responds. For now, Qubic has not breached the 51% threshold. But with a self-imposed August 2 deadline fast approaching, the clock is ticking.

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