- Qubic claims majority hash power, sparking debate as Monero explores ChainLocks and merge mining for defense.
- Kraken tightens Monero deposit rules, while Qubic community votes to make Dogecoin its next mining target.
The Monero community is weighing proposals to strengthen its proof-of-work (PoW) system after concerns about a potential 51% attack. The discussion follows claims from Qubic, an AI-focused blockchain and mining pool, which said it gained majority control of Monero’s hash rate in August.
Ideas being explored include localizing mining hardware, adopting a merge mining model with Bitcoin or other large cryptocurrencies, and using Dash’s ChainLocks system as an extra layer of protection.
ChainLocks uses randomly selected masternodes to secure the first valid block broadcast to the network. Once locked, the blockchain can only extend with verified blocks, preventing reorganizations even if malicious miners attempt to submit a chain with greater accumulated work.
Joel Valenzuela of the Dash DAO explained the risk of weak economic structures in PoW chains.
“The Qubic attack is a fascinating experiment that essentially exploits weaknesses in mined security models,” he said. He added, “Any ASIC-resistant chain should be worried. Even those with ASICs need to have their economic priorities in place, or suffer attacks.”
Hash Rate Concentration and Disputed Claims
Figures from MiningPoolStats show the Qubic pool controls 2.18 GH/s, making it the largest contributor of computing power to Monero. The second-largest pool, Supportxmr, holds 1.18 GH/s. Such concentration has raised concerns about the network’s decentralization.
Not all community members agree with Qubic’s majority control claim. Some argue the pool carried out a limited block reorganization rather than a full 51% takeover. Still, the presence of one mining pool with disproportionate power has sparked debate over the network’s security.
In addition, Kraken responded by suspending Monero deposits. In an update, the exchange reopened deposits but now requires 720 confirmations before crediting accounts. Kraken said:
“Given the current uncertainty around the security of the Monero network due to significant consolidation of hash rate under a single entity, Kraken may halt deposits at any time and delay crediting at its discretion.”
Longer confirmation times make deposits slower and reflect the exchange’s caution while uncertainty persists. For Monero users, this development shows how mining concentration can affect access to the network.
Qubic Votes to Target Dogecoin
The Qubic community has since voted to make Dogecoin (DOGE) its next mining target. More than 300 members supported the proposal, outnumbering other options. Sergey Ivancheglo, founder of Qubic, said further preparation is needed. “DOGE mining requires months of development,” he explained, noting that the pool remains focused on Monero in the short term.
Consequently, the situation has put fresh attention on how proof-of-work networks secure themselves against hash rate concentration and potential attacks.
