The Qubic project controlling 51% of Monero's Computing Power raises security concerns and may lead to network transaction interruptions.

Golden Finance reports that the blockchain project Qubic, led by IOTA co-founder Sergey Ivancheglo (CFB), has controlled over 20% of the Computing Power of Monero through the "Useful Proof of Work" (uPoW) Mining method and plans to secure over 51% Computing Power from August 2 to 31 to demonstrate its technological strength. Qubic incentivizes miners to participate in Monero CPU Mining, rapidly gathering a large amount of Computing Power, while using the Monero coins obtained from mining to exchange for stablecoins, supporting the repurchase and destruction of its own tokens, creating an economic incentive mechanism. This move has raised serious concerns in the Monero community regarding the decentralization and security of the network. If Qubic controls more than half of the Computing Power, it may reject valid blocks from other mining pools, leading to orphan blocks and transaction delays, severely affecting the normal operation of the network. The Qubic project will stop publishing computing power data starting from August 2, aiming to remind the public to pay attention to the risks of a 51% attack. Analysts point out that Monero spends about $130,000 daily to ensure network security, but with an investment of only $7,000 to $10,000 per day, one could potentially gain control over most of the computing power, exposing the potential weaknesses in the incentive mechanisms of Proof of Work (PoW) networks. This incident is not only a crisis for Monero, but also serves as a wake-up call for all PoW blockchains.