What a wild day for
$QUBIC yesterday
This news went mostly under the radar
For basically 12 hours straight,
$QUBIC controlled over 51% of the
$XMR hashrate
For large parts of the day, they were controlling 80% to 90% of the total hashrate
$QUBIC was at a market cap of around 65 million at the time while
$XMR was at a market cap of around 5.5 billion
Think about that, a 65m market cap project basically controlled a 5.5 billion market cap project for 12 hours
If they wanted to,
$QUBIC could have completed double-spends, revealed who was behind private transactions and a range of other security attacks
Most insanely, as far as I understand....
$QUBIC could have permanently switched off all mining that didn't occur through the
$QUBIC network... giving
$QUBIC indefinite 100% control of the
$XMR hashrate
They could do this by orphaning blocks that weren't mined through
$QUBIC
Then around 1:30am this morning, this mining marathon switched off and
$QUBIC went back to approx 10% hashrate control
What happened here?
I have no idea...
But I guess it was related to the new mining algorithm that
$QUBIC has implemented
I also guess that this was a test for the upcoming
$DOGE mining
I think
$XMR mining has been a complete test phase for
$DOGE mining and I imagine when
$DOGE mining launches, you will see that the
$QUBIC network has a few surprises up its sleeve