SlowMist Cosine: Qubic's Control Over Monero Hashrate Remains Uncertain and Difficult to Verify

According to ChainCatcher, SlowMist founder Cosine commented on the Monero 51% attack incident, stating that while there is considerable skepticism within the community about whether this was truly a 51% attack in the strictest sense, there is no doubt regarding the occurrence of block reorganizations (such as six blocks). The Qubic mining pool claims to control 51% of the hash power, but many community members believe it controls around 33%. This debate is difficult to verify, and the only way to conclusively prove a 51% attack is to conduct a double-spending attack test.

Previous reports indicated that Qubic, a project by IOTA co-founder Sergey Ivancheglo, rapidly accumulated a large amount of Monero hash power through a "Useful Proof of Work (uPoW)" mechanism. On August 12, Qubic briefly controlled 52.72% of the Monero network's hash rate (about 3.01 GH/s). Once the threshold of 51% is surpassed, Qubic could reject blocks from other mining pools, leading to chain reorganizations, double-spending, or transaction censorship. The Monero community has already begun to resist and defend against these actions, while Qubic claims this was a technical demonstration rather than a malicious attack.