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After the successful takeover of the Monero network, AI-driven blockchain network Qubic is now shifting its focus to Dogecoin. According to reports, the Qubic community has overwhelmingly voted in favor of targeting Dogecoin for a potential 51% attack.
The decision to target Dogecoin, known for its market cap exceeding $35 billion and backing by high-profile figures like Elon Musk, raises concerns about the vulnerability of proof-of-work blockchains. This is especially alarming when a single mining pool can gain control of the network’s hashrate.
While the security risks are considerable, it remains to be seen whether Qubic will actually follow through with an attack on Dogecoin. Despite Kraken halting Monero deposits due to security concerns following the takeover, there have been no official statements from the Qubic community regarding their next target.
However, the implications of a successful 51% attack on Dogecoin would be severe. The network’s stability and security could be compromised, leaving users vulnerable to potential manipulation and exploitation.
Source: coincentral.com
