risky
Qubic's Monero Control Experiment Sparks Community Response
The blockchain project Qubic, led by IOTA co-founder Sergei Ivancheglo, announced plans for an 'economic experiment.' In August, the team aims to gain control over 51% of the Monero network's hash rate to demonstrate the vulnerabilities of the Proof of Work (PoW) model. As a response, the community has strengthened support for the supportxmr pool, which already controls 33.5% of the hash rate.
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AI Analysis
Qubic's announcement represents a provocative attempt to highlight potential security issues in PoW-based cryptocurrencies like Monero, aiming to get control over half of the network's hash power. Suc...
AI Recommendation
Investors should closely monitor the developments of this experiment, as it could either demonstrate a critical vulnerability or serve as a wake-up call for stronger security practices in PoW cryptocu...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.
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