We often hear about the potential threat that quantum computers pose to blockchain security down the road, and experts are always quick to remind us that they're working on quantum-resistant solutions. But right now, there's a more immediate threat on the horizon that people aren't talking about: Qubic.
Qubic is a PoW blockchain that boosts its profits by using computing power to train an AI model called AIgarth and mine other PoW coins on the market. The risky part is that Qubic's focus on profit is making it incredibly powerful. In fact, it's gotten so powerful that it's now a serious threat to Monero, with over 3 GH/s of computing power.
Now, after Monero, the Qubic community is reportedly looking to attack Dogecoin, a much bigger PoW blockchain with over 3 PH/s. This is a massive target for Qubic's current capabilities, but it's not out of the question if its network keeps growing. It might even be a marketing tactic to grab attention!
Other, weaker PoW blockchains like Dash, Raven Coin, Zcash, Bitcoin Gold, Horizen, and Komodo could be Qubic's next victims. An attack on any of these could create a "black swan" event in the crypto market, even if the situation isn't as bad as it seems. Other major PoW blockchains like Bitcoin, Bitcoin Cash, Dogecoin, and Litecoin are still out of Qubic's reach.
I'm truly surprised that the crypto community isn't discussing or condemning Qubic's actions. Behavior like threatening, attacking, or manipulating other blockchains shouldn't be considered normal in a free-market environment, especially since it puts so many users' assets at risk. If Qubic can alter how Monero operates, XMR holders could face massive losses.
While I'm not a blockchain tech expert, I can't think of any simple solutions. It seems like PoW blockchain development teams should be taking these risks seriously and evolving their protocols to a new level to defend against potential attacks from Qubic and other similar projects in the future.
I would like to know your opinion on this matter:
- Are you worried about a well-known PoW blockchain like Monero being 51% attacked by Qubic?
- Is the existence and development of Qubic completely normal in a free-market competition?
- Is there a way to stop Qubic's expansion and the weaponization of its computing power?
References:1.
Monero’s 51% Attack Problem: Inside Qubic’s Controversial Network Takeover2.
After Attacking Monero, Qubic Sets Its Sights on Dogecoin—Here's Why