Dogecoin could face a potential 51% attack following Qubic's targeted assault on Monero. Should concern arise in the Dogecoin community?
Qubic, an AI-driven blockchain project, has announced its intention to mine Dogecoin, following a community vote led by its founder, Sergey Ivancheglo, better known in the crypto space as Come-from-Beyond. This decision comes after Qubic successfully conducted a 51% attack on Monero in August 2025.
The development of mining Dogecoin by Qubic is expected to take several months, during which its pool is currently mining Monero in preparation. Dogecoin, with a market cap of over $35 billion and estimated daily mining revenues of about $2.3 million, was the preferred choice among other options like Kaspa and Zcash.
The news has sparked a mixed market reaction, with Dogecoin's price briefly slipping from $0.24 to $0.22. However, some technical analysts remain optimistic about Dogecoin's future, predicting a bullish double-bottom pattern that could push DOGE towards the $0.30 mark.
Risks to Dogecoin's Network Security
Qubic's mining pool may gain dominant control over Dogecoin’s hashrate by deploying "vampire mining" or similar strategies to attract miners. This concentration of mining power could enable another 51% attack or double-spend attacks, undermining network trust and leading to price drops, as seen with Monero (20% drop) and early Dogecoin price impact (5% slip).
The event highlights broader systemic vulnerabilities in Proof-of-Work (PoW) blockchains that rely on moderate or low total hashrate and lack advanced security upgrades such as merge-mining or chain locks.
Implications for PoW Networks
Qubic's shift to Dogecoin mining illustrates a tangible threat to the security of smaller and mid-sized PoW networks. It casts uncertainty on the future security model of PoW systems unless they adapt by increasing network hashrate, adopting improved consensus security mechanisms, or transitioning toward less attack-prone consensus models.
Qubic’s approach also underscores an emerging paradigm where mining effort is redirected toward “useful” computation like AI, potentially transforming PoW’s role but also disrupting existing network security assumptions.
In summary, Qubic’s move towards Dogecoin mining emphasizes the risks posed by centralized or concentrated mining power. It serves as a reminder for PoW blockchains to strengthen their security measures or consider alternative consensus models to ensure long-term network integrity.
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