Qubic’s Threat to Monero’s Mining Hashrate
In an alarming development for Monero (XMR), the predominant privacy-centric cryptocurrency, Qubic, a competing blockchain project, is gearing up for a potential takeover of more than half of Monero’s mining hashrate starting August 2. Sergey Ivancheglo, also recognized as CFB, the founder of Qubic, has publicly alluded to intentions of executing a 51% attack via social media platforms this week. This initiative, if successful, could run until the end of August, paving the way for impediments such as transaction censorship, double spending, and the generation of orphan blocks, though CFB maintains that the mission aims to showcase the efficacy of Qubic’s Useful Proof of Work (uPoW) technology rather than dismantle Monero.
Qubic’s Mining Strategy
The uPoW framework utilized by Qubic employs artificial intelligence in its miners, who can secure Qubic’s network while simultaneously mining Monero during inactive periods. Earnings harvested from mining XMR are exchanged for USDT to purchase and subsequently burn Qubic’s native QUBIC tokens, fostering a profitable deflationary ecosystem. Since May 2025, this strategy has attracted considerable mining capacity from the Monero network, with Qubic’s hashrate share oscillating between 20% and 40% throughout July, raising alarms within the Monero community as it approaches critical levels.
Current Status and Community Concerns
By July 27, 2025, Qubic had established a firm foothold, comprising 26.96% of Monero’s total hashrate, which stands at 6.12 gigahashes per second (GH/s). Advocates for Monero contend that Qubic inflates its self-reported hashrate through deceptive tactics known as “spoofing,” likening its actions to parasitic behavior. Concerns abound that a successful takeover could severely undermine trust in Monero, a cryptocurrency favored for its privacy features. A concerned Reddit user implored fellow community members on the r/monero subreddit not to underestimate the situation, emphasizing the need for proactive measures before it escalates.
Historical Context and Recommendations
Historically, threats similar to this one, such as those posed by MineXMR in 2022, were mitigated through community-driven decentralization efforts and enhancements to mining pool dynamics. CFB has since recommended that exchanges adjust protocols by increasing the required transaction confirmations from 10 to 13 during this foray. Qubic representatives assert that their actions are motivated by economic incentives, rather than intending harm, and maintain that Monero’s unique privacy traits will safeguard its cryptocurrency value amidst this turmoil.
Community Division and Future Implications
The Monero ecosystem appears to be divided on how best to respond to this challenge. Suggestions to transition to decentralized pools like P2Pool have emerged, alongside calls for potential changes to Monero’s protocol. Meanwhile, apprehensions linger among XMR proponents regarding user migration to alternative platforms such as Zcash or Zano if confidence in Monero wanes, as others argue that pursuing resistance against ASIC mining has historically been unfruitful. Observers with a neutral stance characterize this confrontation as a critical stress test for not only both platforms but the vulnerabilities inherent within proof-of-work models. A successful execution of Qubic’s plan might validate its uPoW concept, yet any ensuing chaos could reaffirm Monero’s durability, despite possible short-term market fluctuations.
