On Tuesday, personal privacy coin Monero (XMR) mining pool MineXMR’s hash rate gone beyond over 1.4 GH/s, making up 44% of the hash rate of the XMR network. MineXMR has regarding 13,000 miners as well as bills a 1% pool cost. According to a screenshot from Archive.org last August, the pool just added to 34% of the hash rate of the XMR network.
The quick increase in the network’s hash rate has actually startled some XMR lovers, with Reddit customer u/vscmm writing:
“We need to talk with MineXMR to take some action right now! Please send an email for [email protected] to MineXMR admins to take action; a 51% pool is not in the best interest of the community or the pool.”
If a 51% strike were to take place, the criminals entailed can possibly reverse network purchases to double-spend individuals’ crypto. However, considered that Monero obfuscates the identification of the sender as well as recipient via stealth addresses as well as ring trademarks, cyberpunks’ capacities, in this situation, would certainly be much more minimal. Theoretically, they can just utilize such strikes to mine vacant blocks or double-spend their very own XMR by marketing it to an exchange and after that releasing a different journal.
Reddit individuals explained that MineXMR openly divulges the place of its business workplaces, which lie in the United Kingdom. Conducting 51% associated rejection of solution as well as fraudulence strikes would likely bring criminal effects in stated nation. Even if a mining pool were to collect over 51% of a network’s hash rate, this would just endanger a blockchain’s procedures if the entity had hidden agendas for doing so.
