According to reports and mentions on the social media platform X, there was indeed a six-block reorganization on the Monero blockchain, which showed that Qubic does control a large enough hashrate.
If Qubic succeeded in gaining and sustaining majority control (over 50%) of the blockchain’s hashrate, the implications could be severe. In such a scenario, Qubic could potentially censor transactions, perform double-spends, and reorganize blocks at will. Such power would allow them to reverse confirmed transactions and undermine the blockchain’s integrity.
Monero’s market performance quickly reflected the unease in the hours following Qubic’s claim of majority control. This unease saw its price fall to as low as $245. At the time of writing, Monero is trading at $247, down by 5.3% and 15.2% in the past 24 hours and seven days, respectively.
Qubic’s native token, on the other hand, experienced the opposite trajectory. At the time of writing, QUBIC is up by 20.5% in the past 24 hours.
