The Qubic community has cast its vote to direct its next 51% attack toward Dogecoin (DOGE), following its recent takeover of the Monero (XMR) network. The decision came after Qubic founder Sergey Ivancheglo, known as Come-from-Beyond, posed a question to the community regarding the next ASIC-enabled proof-of-work blockchain to target. Options included Dogecoin, Kaspa (KAS), and Zcash (ZEC). Dogecoin emerged as the top choice with over 300 votes, surpassing the combined votes of the other contenders [1].
The Qubic community confirmed the outcome via a post on X, where Ivancheglo stated, “The Qubic community has chosen Dogecoin.” This development follows Qubic’s successful reorganization of six blocks on the Monero network, which led to the suspension of Monero deposits on Kraken due to concerns over network integrity. While withdrawals and trading remain unaffected, the exchange has yet to specify when deposits will resume [1].
Qubic’s mining pool currently holds a hashrate of 2.32 GH/s, the highest on the Monero network, according to MiningPoolStats. The project has stated that Monero’s privacy and transaction features remain intact, though it aims for Qubic miners to eventually provide the network’s security. Ivancheglo justified the attack by claiming the electricity used for proof-of-work could better serve artificial intelligence, though critics argue that such reasoning is more marketing than meaningful innovation [1].
Reactions to the Monero attack have been mixed. Luke Parker, a lead developer at SeraiDEX, questioned whether the six-block reorganization was sufficient evidence of a 51% attack, suggesting it could have been a matter of luck rather than control. In contrast, Zhong Chenming, co-founder of cybersecurity firm SlowMist, acknowledged the apparent success of the attack, warning that it could enable censorship and blockchain rewrites [1].
The implications of Qubic’s actions extend beyond Monero. By targeting Dogecoin, a coin with a market capitalization of over $35 billion and one of the top 10 digital assets by market cap, Qubic is challenging the resilience of one of the most prominent proof-of-work blockchains. While Dogecoin’s larger network size presents a more significant challenge than Monero, the Qubic community’s decision signals a clear intent to push the boundaries of proof-of-work security [1].
The broader crypto community is watching closely. The event raises concerns about the vulnerability of proof-of-work chains, particularly those with smaller hashpower or economic incentives that might attract attacks. Dogecoin, as a leading memecoin, holds cultural significance beyond its technical attributes, and any disruption could ripple across the market. Analysts remain divided on the long-term implications, with some emphasizing the need for stronger network defenses and others questioning the legitimacy of Qubic’s claims of control [1].
The Qubic project has not provided detailed plans for the Dogecoin attack, but its previous actions suggest a strategy of using mining power to influence blockchain dynamics. The mining of XMR during the Monero takeover has been used to fund Qubic token buybacks and burns, creating a direct economic incentive to dominate the network. If Qubic applies the same model to Dogecoin, it could further intensify the debate over the sustainability and security of proof-of-work systems [1].
As the situation evolves, the response from the Dogecoin community and major exchanges will be critical in determining the broader impact of this development. For now, the Qubic community’s actions underscore the growing strategic and technical capabilities of decentralized groups in the crypto space, as well as the ongoing challenges in securing blockchain networks against sophisticated attacks.
Sources:
[1] title: Bad News for DOGE? Qubic Community Votes to Target Dogecoin After Monero 51% Attack
url: https://cryptonews.com/news/qubic-community-votes-to-target-dogecoin-after-monero-51-attack/
