Qubic, a uniquely named cryptocurrency mining pool and an altcoin, shared a preliminary report on 51% of attack experiments conducted on the Monero (XMR) network.
During the experiment, Qubic reached 52% of the Monero Network’s global hashrate, with six blocks being reorganized in the process, and 60 blocks becoming “orphans” (quarantine).
The report reveals that Qubic mined about 80% of the Monero Network blocks in just two hours. During this period, 750 XMR and 7 million XTM were mined. Combined with Tali, which has not been sold since the previous period, the newly mined XTM totaled 17.2 billion Qubic, with roughly $55,000 worth of assets burned.
Miners and hashrate contributors received a total of 62.2 billion Qubic rewards. The market value of these rewards is approximately $200,000. During the experiment, the Monero network reached a peak of 2.71 Gigahash, equivalent to 52% of the global hashrate, with a total of 5,506 Monet blocks mined.
According to Qubic, Qubic Mining is currently about four times more profitable than Monero Mining. The 51% attack experiment is still ongoing, and independent experts continue to investigate the impact on the Monero network.
*This is not investment advice.
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