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Qubic mining pool plans to launch a 51% attack on the Dogecoin blockchain
The Qubic mining pool, which recently gained control over the majority of the Monero (XMR) network hashrate, now intends to carry out a 51% attack on the Dogecoin (DOGE) meme coin blockchain.
Qubic’s founder, Sergey Ivancheglo, asked the pool’s users which cryptocurrency network they should target next, and the overwhelming majority chose DOGE. Therefore, the meme token’s blockchain will become the platform’s next target.
Currently, the Dogecoin network’s computing power stands at 2.69 petahashes per second, meaning Qubic would need to control at least 1.38 petahashes per second to conduct a 51% attack. For the Monero network, the pool required much less computing power — 2.32 gigahashes per second. Therefore, it’s uncertain whether Ivancheglo will be able to carry out his plan.
Among the skeptics was data analyst Dyke Uzo, who doubts that Qubic can handle such a “big fish” as Dogecoin and believes the pool should first practice on smaller-hashrate networks.
Top five Dogecoin mining pools by computing power
When asked why he targeted the DOGE network, Sergey explained:
“Useless PoW [consensus protocol] consumes too much electricity that is needed for artificial intelligence. Maybe my words are hard to understand, and I cannot say more for now, but in the future, you will understand their meaning.”
See also: "UK’s Union Jack Oil to Use Excess Gas for BTC Mining"
