- Main event, leadership changes, market impact, financial shifts, or expert insights.
- Monero developers propose changes after Qubic attacks.
- Significant market volatility and security discussions follow.
Monero developers are engaged in discussions over the ‘Publish or Perish’ proposal after Qubic Pool’s selfish mining attacks impacted the network, fostering debates on Monero’s long-term decentralization.
The incident highlights concerns over network security and decentralization, as Monero experiences a 20% price decline and advocates for immediate protocol changes to safeguard its blockchain integrity.
Monero developers are discussing the “Publish or Perish” proposal following recent Qubic selfish mining attacks. The impacts of these attacks have significantly affected on-chain dynamics and spurred a robust community debate about immediate and future decentralization strategies.
Key contributors include Monero core developers and external security analysts. Sergey Ivancheglo of Qubic Pool spearheaded the attack, aiming for economic dominance. Luke Parker and Zhong Chenming have provided essential analyses questioning the extent of the network threat.
The immediate effects are seen in reduced market confidence and a price drop in Monero. The incident is scrutinized across the crypto ecosystem due to its implications for other PoW privacy coins. Financial challenges arise due to the operational strains and vulnerability concerns.
“The takeover was the result of a month-long campaign… incentivizing CPU miners to direct their power toward XMR… promising better rewards through our network.” — Sergey Ivancheglo, Founder, Qubic source
Potential outcomes include pivotal changes to Monero’s protocol and longer-term decentralization strategies, possibly through a shift towards hybrid consensus models. Historical trends of PoW privacy coins exhibit similar vulnerabilities, raising questions about ongoing network security. link
