In response to recent security challenges, Monero developers have called on the community to launch their own mining rigs to strengthen the network’s resilience.
This appeal comes amid ongoing concerns following a 51% attack that has shaken the privacy-focused blockchain. The attack, led by the Qubic mining pool, has seen its hashrate drop to 32.7% of the network’s total computing power, though it still holds the top spot. The closest competitor controls 21.5%, highlighting a concentration of power that continues to raise red flags.
The developers’ push for decentralized mining aims to dilute the dominance of any single pool, reducing the risk of future attacks. A 51% attack occurs when one entity controls more than half of a network’s hashrate, potentially allowing them to manipulate transactions or double-spend coins. While Qubic’s influence has waned since its peak, the incident has underscored vulnerabilities in Monero’s proof-of-work system.
Meanwhile, cryptocurrency exchange Kraken has temporarily suspended Monero (XMR) deposits, citing a “potential threat to blockchain integrity.” This precautionary measure reflects the exchange’s concern over the network’s stability, though trading and withdrawals remain unaffected.
The suspension will persist until Kraken deems the network secure, leaving the community to navigate this critical moment.
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The call for personal mining rigs signals a broader effort to restore trust and decentralization, key pillars of Monero’s appeal as a privacy coin. As the situation evolves, the balance of power in the network remains a focal point for its future security.
Author: Slava Vasipenok
Founder and CEO of QUASA (quasa.io) - Daily insights on Web3, AI, Crypto, and Freelance. Stay updated on finance, technology trends, and creator tools - with sources and real value.
Innovative entrepreneur with over 20 years of experience in IT, fintech, and blockchain. Specializes in decentralized solutions for freelancing, helping to overcome the barriers of traditional finance, especially in developing regions.
This is not financial or investment advice. Always do your own research (DYOR).
