The latest chapter in the ongoing Qubic-Monero power struggle has seen a “reorg” of 18 blocks on the Monero network.
Qubic’s “selfish mining” tactics allow it to briefly manipulate block production. The latest reorg, which observers claim saw 118 transactions voided, is the largest disruption so far.
Read more: ‘Please, do not resist’: Qubic hash grab worries Monero maxis
Qubic’s activities have brought the integrity of the Monero network under question, with one commentator identifying the frequency of “orphaned” (abandoned) blocks at nearly 30% over a 24-hour period.
Qubic previously claimed to control 51% of the network, though later analysis concluded that its real hashrate was most likely between 28% and 35%. Then came a wave of reorgs, kept below the critical 10 block threshold used to confirm transactions.
The latest reorg, with a depth of 18 blocks, could result in double-spending of tokens affecting any users who are still using 10-block confirmation times.
Read more: Qubic failed to 51% attack Monero, but Dogecoin is next
Response to Qubic’s 18 block reorg on Monero
Some see the latest attack as Qubic desperately attempting to stay relevant as its token price bleeds out, while others have criticized the lack of a definitive response from the Monero community as “amateur hour.”
Qubic’s hash grab campaign on Monero hinges on selling mined XMR and paying its miners in QUBIC, at a higher rate than regular mining.
The tactic began to raise eyebrows in late July, prompting a surge in the price of QUBIC.
However, since peaking in mid-August, Qubic’s token has lost over a third of its value, according to data from CoinMarketCap. In the same period, Monero’s XMR is up approximately 25%.
Clearly undeterred, Qubic founder Sergey Ivancheglo further stoked the rivalry: “Monero will stay because Qubic wanted it to stay.”
Community response has focused on various proposed technical solutions, but the delay in their implementation has led to frustrations.
One account, with the X handle “Exitnode,” summed up the frustration.
Instead of addressing the Qubic threat, they say that developers are “working on a future upgrade that isn’t live.” Pointing out that one warning came a year ago, they ask, ”Why have so few shown urgency to this situation?”
Another account, Monero Research Lab (Unofficial), states it’s “highly likely that temporary rolling DNS checkpoints will be deployed very soon.” This emergency defense measure would act as a stop-gap while longer term solutions are introduced.
The process involves “checkpointed” blocks which are mined by the Monero Core Team’s nodes. The GitHub issue states, “DNS checkpoints… could prevent deep blockchain re-organizations, but Monero’s blockchain consensus protocol would temporarily be less decentralized.”
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Source: https://protos.com/qubic-voids-over-100-monero-transactions-with-longest-ever-reorg/
