Monero (XMR), a privacy-focused cryptocurrency, increased by over 5% even after experiencing the largest blockchain reorganization in its history due to a Qubic attack.
Impact of Qubic's Attack on Monero
During the weekend, the price of Monero surged by over 5% amid a significant blockchain reorganization resulting in the reversal of 117 transactions. This attack was carried out by Qubic, a mining pool controlling over 51% of the network's hashrate.
Discussion on Decentralization and Security
The incident has reignited debates about the decentralization and security of Monero. Cryptocurrency researcher Rucknium confirmed the reorg and indicated the need for short-term solutions like DNS checkpoints. While some experts express skepticism about the network's reliability, others warn that ignoring the issue of reorgs may leave the network vulnerable.
Future of Monero After Attacks
Despite the threats, XMR has shown resilience, with its price only declining by 5.8% since Qubic's influence became apparent. However, questions remain about Monero's ability to address centralization risks without compromising its privacy ethos.
Qubic's attack on Monero has raised questions about the network's decentralization and security, but the price growth of XMR indicates that investors still believe in its future prospects.
