Monero community alarmed by potential 51% attack risk on the network

Within the Monero community обеспокоились about the concentration of mining power in the MineXMR pool. Some say this poses a potential risk 51% attack.

According to MineXMR’s own statistics, at the time of writing the pool-controlled hash rate stands at about 1.5 GH/s or 49% of the total.

Some members of the Monero community have approached the pool with a request to prevent the share rising above 50%.

In the Reddit discussion thread, the MineXMR administrator responded:

“We understand people’s concerns about the large hashrate currently held by MineXMR. We have announced an increase in the pool usage fee and will continue to monitor the situation.”

Users agreed that a miner who gains control of the network would not necessarily abuse the position. However, in their view, such concentration of power threatens decentralisation of the network and Monero’s reputation.

As noted, in 2021 there were successful 51% attacks with block reorganisations on networks Firo (formerly Zcoin), Verge and Bitcoin SV.