Will This New Blockchain Project Topple Monero’s Network? Find Out! 😱

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Ah, the world of cryptocurrency—where every new “innovative” idea feels like the dawn of a new age, only for it to be forgotten in the dust of speculation. Enter Qubic, a shiny new system that promises to upend the mighty Monero, all with its “useful proof-of-work” system. The idea? Miners are now incentivized to point their computational might at Monero, mining XMR which they then sell for USDT. The catch? The proceeds are used to buy and burn QUBIC tokens, creating some kind of eternal fire of deflationary wonder. Don’t ask me how it works, but it sounds rather… effective. 🤷‍♂️

And just like that, Monero’s once-predictable mining ecosystem was shaken to its core. In mere weeks, Qubic surged from a mere 2% of the network’s hash rate to over 27%. For a brief moment, it was the king of the pool—before, of course, the angry community made its displeasure known. Yet Ivancheglo, the mastermind behind this, is undeterred. His latest plan? To cross the 51% hash power threshold between August 2 and 31. He insists it’s a “demonstration,” not an attack. Because, clearly, a “demonstration” on Monero’s network won’t cause chaos at all. 👀

And just when you think the plot couldn’t thicken more, Ivancheglo drops another bombshell: Qubic will stop sharing its hash rate figures starting August. Why? Well, the Monero community has been whispering about “hash rental” and bot-based manipulation, but hey, there’s no solid proof, right? 🤫

According to Dan Dadybayo from Unstoppable Wallet, the real threat isn’t technical—oh no, it’s economic. Monero’s daily mining incentives come to around $130,000, but getting the majority control could cost as little as $7,000-$10,000. You see, Qubic isn’t attacking Monero. It’s just offering miners a better deal, like a more generous buffet at the local diner. 🍽️

So as we all wait with bated breath for August, Monero’s defining features—anonymity and decentralization—are about to face their biggest test. Will it survive, or will Qubic burn the house down? Only time will tell…

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2025-07-29 10:45