This week, the AI blockchain project Qubic executed a 51% attack on Monero and gained control of the majority of the network's hash power. The Qubic community has voted to target Dogecoin (DOGE) for the next attack.
Qubic network founder Sergey Ivancheglo sought community input on which blockchain supporting Application-Specific Integrated Circuits (ASIC) and using a proof-of-work mechanism should be the next target for a 51% attack, with options including DOGE, Kaspa (KAS), and Zcash (ZEC).
"The Qubic community has chosen Dogecoin," Ivancheglo (online alias Come-from-Beyond) announced the voting results on Sunday via a post on the X platform.
Dogecoin has a market capitalization of over $35 billion and received more than 300 votes, surpassing the total of all other networks combined.
The 51% attack on the privacy blockchain Monero by Qubic shocked the crypto community. The AI project has now set its sights on another proof-of-work cryptocurrency, raising concerns about the security of digital asset blockchains that rely on mining.
The Qubic team announced on Monday that it has gained control of the majority of the hash power required for Monero network security.
After a month-long competition for hash power with other Monero miners, the Qubic pool successfully rewrote six blocks.
According to MiningPoolStats data, as of the time of this article's publication, the Qubic pool's hash power is approximately 2.32 gigahashes per second (GH/s).
"The core functionality of the Monero network remains intact. Its privacy, speed, and usability have not been affected," the Qubic team stated on Tuesday.
The team also mentioned that the ultimate goal is for Qubic miners to provide security for the Monero protocol.
Following this attack, the cryptocurrency exchange Kraken temporarily suspended the deposit service for Monero (XMR) on its platform, citing "potential risks" to network integrity after a single miner achieved 51% hash power control over the Monero network.
Although the deposit service for Monero has been temporarily halted, the exchange continues to allow withdrawals and trading of XMR, informing users that deposits will resume once the platform confirms "safety," with the specific resumption time to be determined by company announcements.
Related: Crypto hijacker sentenced to 1 year in prison after admitting to $3.5 million fraud
Original article: “Qubic community votes to target Dogecoin (DOGE) as next target after executing 51% attack on Monero (XMR)”
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