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Slow Fog Founder Claims 51% Attack Success on Monero by Qubic Mining Pool

Qubic’s demonstration, led by Sergey Ivancheglo, claimed to briefly exceed 51% hashrate control in Monero, sparking debates within the community over data discrepancies and the practical impact of its UPoW model.

XMR

Summary

Qubic, under the leadership of Sergey Ivancheglo, claimed to have achieved over 51% hashrate control on Monero between August 2 and 31 as an economic demonstration of its UPoW model. This claim has sparked debates over discrepancies in the reported data and the true effectiveness of the demonstration on network security.

Terms & Concepts
  • UPoW: A Unique Proof of Work model used by Qubic to perform controlled demonstrations of network influence without malicious intent.
  • 51% Hashrate Control: The condition when an entity controls more than half of the network's computing power, potentially threatening blockchain security.