QUBIC (Qubic) has pumped 17.01% in the last 24 hours.

Gate News Bot message, August 13th, according to CoinMarketCap data, as of the time of writing, QUBIC (Qubic) is currently priced at 0.0000028 USD, rising 17.01% in the last 24 hours, with a highest point of 0.0000029 USD and a lowest drop to 0.0000021 USD. The current market capitalization is approximately 344 million USD, an increase of 50 million USD compared to yesterday, ranking 217th.

Qubic is an open-source blockchain platform, claimed to be the fastest blockchain verified by CertiK, with a peak TPS of 15.52 million. Qubic employs a Useful Proof of Work (UPoW) mechanism, converting mining energy into artificial intelligence computation. The platform supports fast, free transactions with instant finality. Qubic also offers a smart contract IPO model, supporting passive income and new economic models. Additionally, Qubic is developing an AI system called Aigarth, aiming to achieve general artificial intelligence by 2027.

Important news about QUBIC recently:

1️⃣ Qubic Mining Pool Controls Monero Network Sparks Controversy The Qubic mining pool rapidly accumulated a large amount of Monero mining power through the "useful proof of work (uPoW)" mechanism, once controlling 52.72% of the Monero network's hash rate. This behavior sparked a strong reaction from the Monero community, which believes it could lead to risks such as chain reorganization, double spending, or transaction censorship. Although Qubic claims this move is a technical demonstration and not a malicious attack, it still raised concerns about the security of the Monero network.

2️⃣ Monero Experiences a Chain Reorganization Event The Monero network has detected a significant chain reorganization event, and the Qubic mining pool has gained the ability to control the chain due to its computational power advantages. This means that Qubic can theoretically rewrite transactions, implement double-spending attacks, and censor any transactions. This event poses a serious challenge to the decentralization and security of the Monero network.

3️⃣ The QUBIC project has attracted widespread attention As an emerging blockchain project, QUBIC has quickly attracted widespread attention from the cryptocurrency community through its unique "useful proof of work" mechanism and its impact on the Monero network. This may be an important factor contributing to the rise in QUBIC's price, with a 24-hour rise of 17.01% and a significant market capitalization increase.

From a technical perspective, QUBIC's price trend shows a rise, but caution is still needed for possible pullback risks. On the fundamental side, the technological innovations of the QUBIC project and its influence on other cryptocurrency networks may continue to support its price performance, but it also faces potential challenges from regulations and within the industry.

This message is not an investment advice, and investors should be aware of market volatility risks.