DOGE is in danger! After Qubic paralyzed Monero, "community voting Dogecoin", is Decentralization completely collapsing?

Qubic gathers computing power through uPoW to reorganize Monero blocks, and the community then targets Dogecoin, challenging the decentralization mechanism of PoW... (Background: A $75 million attack on the $5 billion giant Monero, what exactly does Qubic want?) (Additional context: Monero suspected of a 51% Attack! Ledger CTO: Qubic controls most of the computing power, can rewrite the XMR blockchain and implement double spending..) When a blockchain project marketed with AI can dominate the vast majority of others' computing power in just a few days, the security baseline of decentralization is forced to be reevaluated. In August 2025, Qubic reorganized six Monero blocks through the "useful work proof (uPoW)" mechanism, causing about 60 blocks to become orphaned. Although the event has not been universally recognized by experts as a rigorous 51% Attack, the impact has been enough for the exchange Kraken to suspend deposits citing "potential risks to network integrity," and Monero's price subsequently fell. More worryingly, Qubic later named Dogecoin, with a market capitalization exceeding $35 billion, as the next potential target in a community vote, tightening market nerves instantly. uPoW disrupts Monero in a way different from traditional mining pools. It requires miners to first solve AI tasks with their computing power, with the rewards directly exchanged for USDT, which is then used to repurchase and burn QUBIC tokens. This effectively ties "mining income" to "token buying pressure," rapidly attracting miners and forming significant computing power. This concentration of computing power allows Qubic to complete the reorganization of six blocks on Monero, technically capable of covering recent transaction history and triggering double spending or transaction review. Monero uses the RandomX anti-ASIC algorithm, theoretically reducing the risk of monopoly by specialized mining rigs. However, this incident shows that even with algorithm designs that incentivize home CPUs, it is difficult to resist the concentration effects arising from the combination of funds, collaborative mining pools, and new economic models, which could serve as a warning for public chains that rely on PoW in the long term. After the Monero incident, Qubic's founder Sergey Ivancheglo initiated a community vote hoping to challenge the next large PoW chain, with Dogecoin, Kaspa, and Zcash as options, and Dogecoin topped the poll with over 300 votes. The reason is not only its active community and large market capitalization but also because the Scrypt algorithm is relatively old and mature, leading some observers to worry that if computing power quickly converges due to external incentives, the network may still be exposed to risks. However, the merged mining mechanism of Dogecoin and Litecoin allows the two chains to share mining resources, resulting in a more decentralized distribution of computing power, and currently, there are no signs that Qubic has launched a substantial attack on Dogecoin. For most investors, the price of Dogecoin is still mainly influenced by meme popularity, capital flow from exchanges, and the pace of technological upgrades, and potential threats have not yet manifested in on-chain indicators. Controversy over the definition of the attack and market reactions: Did Qubic's actions against Monero constitute a "51% Attack"? Some security researchers believe that the short reorganization time and the lack of large-scale double spending make it more like "experimental control." However, whether it accurately fits the textbook definition is no longer critical; what truly shakes the market is that as long as someone is willing to design new economic incentives, it is possible to buy enough computing power to influence medium-sized PoW chains in a short period. After the news broke, Monero's price quickly fell, Kraken stopped deposits, and although other exchanges did not follow suit, they have increased the number of confirmation blocks for withdrawals. Investors are reassessing the safety margins under the proof-of-work mechanism, with some funds shifting to higher market capitalization projects or those utilizing attestation (PoS). The bigger issue: decentralization and economic incentives. The Qubic incident directly impacts not just Monero or Dogecoin, but all public chains that rely on computing power for security. It reveals two realities: first, anti-ASIC algorithms are not a panacea; second, as long as the economic model is enticing enough, computing power can migrate quickly, and decentralization can collapse in an instant. Moving forward, public chain teams must consider whether to introduce more layers of defense, including dynamic difficulty adjustment, coroutine verification, or improved consensus mixed mechanisms. In the face of this ongoing technological and capital struggle, all market participants should start to ponder whether the underlying architecture can withstand the original intention of decentralization when the next computing power is "bought away." Related reports: Is Monero facing a decentralization crisis? Qubic aims to seize Monero's "51% computing power," analysts: a wake-up call for all PoW. SEC declares "PoW mining does not constitute securities," miners do not need to register, a major regulatory victory. Opinions: Why ZK might bring Ethereum back to the era of PoW? "Is Dogecoin in danger! After Qubic paralyzed Monero, the community voted for Dogecoin, is decentralization completely collapsing?" This article was first published on BlockTempo, the most influential blockchain news media.