Qubic Releases Monero 51% Attack Experiment Report: Resulting in 6 Blocks Reorganized, 60 Blocks Orphaned

BlockBeats News, August 15th, according to an official announcement, Qubic announced that it has achieved over 51% hash rate control on the Monero network, leading to the reorganization of 6 blocks and the creation of 60 orphan blocks. Preliminary reports indicate that within two hours, Qubic mined 80% of Monero's total blocks.

During this time, approximately 750 XMR and 7 million XTM were mined. The unsold Tari from the previous round, combined with 7 million XTM, totaling 17.2 billion QUBIC, were burned at an average price of around 3,200 QUBIC per billion, equivalent to approximately $55,000. Compute nodes and miners collectively received rewards of 62.2 billion QUBIC, valued at around $200,000.

The network's peak hash rate reached 2.71 GH/s, accounting for 52% of global Monero hash rate. A total of 5,506 Monero blocks were mined. Data shows that Qubic's current miner revenue is nearly four times that of Monero. The 51% Monero experiment is still ongoing.