Monero community concerned as leading mining pool nears 51% of ecosystem's total hash rate

Watch out there! The Monero mining community got upset after MineXMR's pool concentrated 44% of the hash rate in the XMR network.

The rapid rise in the network's hash rate has spooked some XMR enthusiasts, with Reddit user u/vscmm"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% attack were to occur, the bad actors involved could potentially overturn network transactions to. However, given that Monero obfuscates the identity of the sender and recipient through stealth addresses and ring signatures, hackers' capabilities, in this case, would be far more limited. Theoretically, they could only use such attacks to mine empty blocks or double-spend their own XMR by selling it to an exchange and then publishing an alternative ledger.

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