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Monero rises more than 7% in spite of the suffering of 18-block Reorg


Monero’s privacy token rose by more than 7% despite the blockchain suffering an 18-block reorg on Sunday-reversing nearly 117 transactions and promoting community concerns in the Monero Ecosystem.

The security violation was made by the team behind the Qubic, a Layer 1 dedicated to Blockchain and Mining which gained a 51% hashrate in Monero and made a six -block Reorg last month.

Reorg started with Block 3499659 on Sunday of 5:12 AM UTC and ended with Block 3499676 nearly 43 minutes later, According to to resources that operate Monero nodes and share their command-line consoles with X.

Monero’s latest security violation is also confirmed Through the cryptocurrency protocol researcher rucknium in the github.

Surprisingly, the Monero (Xmr) Token exchanged relatively flat as Reorg occurs, and little to eight hours later, it went on a 7.4% rally from $ 287.54 to $ 308.55, coingecko Data Shut up. The XMR managed to rise despite the wider market dropping around 1% on Sunday.

Crypto Podcaster Xenu – one of the first reports of Monero’s Reorg – suggested Qubic may be trying to implement mechanisms to “stop bleeding” of XMR prices.

XMR change in price in the last 24 hours. Source: Co ringecko

The reorg – claimed by Xenu as the biggest in network history-has prompted the discussion of how to handle privacy-chain to move forward.

Repeated attacks feature how proof-of-work blockchains can be stabbed when they are not decentralized enough, preventing their use as a financial network.

“Personally, I do not consider Monero Network to be reliable at this point. I will stop receiving XMR for payments until this situation is resolved,” a crypto pundit, Vini Barbosa Says On Sunday at X.

Monero may need to be centered to hinder Qubic’s influence

Rucknium said that “highly likely” that monero node operators will start temporarily adopting the Domain Name System (DNS) checkpoints – where nodes are taking the trusted block data from community DNS servers – as a solution to prevent recurring reorgs.

However, it came to a Cost to centralization, which some would argue is that -tarnished by The more than 51% quubic hash rate Share.

“If no one in the Monero community has made the issue of the block repairing, then this sword of Damocles will always hang on Monero’s head,” Yu Xian, founder of Blockchain Security Compay, Slowmist, Na -Post To X.

Monero considered solutions to avoid 51% attack

In the past, the Monero community explored a potential overhaul of proof-of-work consent mechanism to make the network resistant to 51% attack.

Among the proposals included Localization of miningMoving to a mining mining algorithm, allowing XMR to be mined to bitcoin (Btc) and other cryptocurrencies, and adopting Dash’s chainlocks solution.

So far, no solution has been effectively implemented, and the quubic still has significant influence on the privacy -focused network.

Related: Kraken stopped at Monero’s deposits following 51% attack

Monero has a 10-block lock mechanism to protect transactions from Reorgs to 10 blocks, but recent 18-block Reorg exceeds protection, Rucknium mentioned.

Despite the network violations, XMR is relatively strong because reports are first made of quubic acquisition around July 28 – just dropped by 5.85%.

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