Qubic plans to control 51% of Monero's hashrate, raising security concerns that could disrupt network transactions

The blockchain project Qubic, led by IOTA co-founder Sergey Ivancheglo (CFB), has controlled more than 20% of Monero's hashrate using "proof-of-work" (uPoW) mining methods, and plans to capture more than 51% of the hashrate from August 2 to 31 to demonstrate its technical prowess.
Qubic quickly gathers a large amount of computing power by rewarding miners for participating in Monero CPU mining, and at the same time exchanges the Monero coins obtained from mining for stablecoins to support the repurchase and destruction of its own tokens, creating an economic incentive mechanism. This move has raised serious concerns in the Monero community about the decentralization and security of the network. If Qubic controls more than half of the computing power, it may reject valid blocks from other mining pools, resulting in orphaned blocks and transaction delays, which seriously affects the normal operation of the network.
Qubic plans to stop publishing hashrate data from August 2, in order to alert the public to the risk of a 51% attack. Analysts point out that Monero spends about $130,000 a day on cyber security, but only needs to invest $7,000 to $10,000 a day to gain control of most of the hashrate, exposing potential weaknesses in the incentive mechanism of proof-of-work (PoW) networks. This incident is not only a crisis for Monero, but also a wake-up call for all PoW blockchains.