Monroe Community Warning: Retrieval Pool is on the verge of reaching 51% of network hashrate



The rapid growth rate of one of Monroe’s network pools has alarmed members of the digital currency community. Many retailers are now worried about possible attacks on the network and its consequences for the entire Monroe community.

According to the Quinn Telegraph, on Tuesday the hashrate of one of Quinn’s private mining platforms or Monroe-based digital currency called “MineXMR” reached over 1.4 GHz; That’s 44% of Monroe’s total hashrate. About 13,000 miners work in this pool, and its fee is 1%. According to Archive.org, the MineXMR pool accounted for only 34% of Monroe’s total hashrate in August.

Now the rapid growth of the hash rate of the pool has worried some Monroe fans.

A Reddit user wrote about this:

We need to talk to the MineXMR pool right now! Please email [email protected], which belongs to the pool administrators, and ask them to do something. Reaching 51% of the network’s total hashrate is neither in the interest of the Monroe community nor in the pool itself.

If a 51% attack occurs, attackers can modify Monroe’s network transactions and use the double-cost method. However, because the Monroe network hides the identity of the sender and recipient, using hidden addresses and cyclic signature technology, in this case the capabilities of hackers become much more limited. Theoretically, hackers can only use such attacks to retrieve empty blocks. In addition, they can spend their monroe only twice; In this way, they sell their digital currencies to an exchange office and then publish another general ledger.

Reddit users also mentioned that the MineXMR pool has made the location of its offices in the UK public. If the pool has 51% of the network hashtag and turns to Didas or fraudulent attacks, it faces legal consequences for the country in which it operates. Even if more than 51% of network hashtags belong to a digging pool, the work of a Chinese block will only be compromised if the pool intends to use its position.

The publication of Monroe Community Alert: the digging pool is on the verge of reaching 51% of the network’s hashrate first appeared in Digital Currency.

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