Dogecoin News Today: Qubic’s AI-Driven Mining Gambit Targets Dogecoin Next

Qubic, a blockchain project led by the pseudonymous developer Sergey Ivancheglo, known as Come-from-Beyond, recently attempted a 51% attack on the privacy-focused cryptocurrency Monero (XMR). While the attack did not succeed in altering Monero’s core functionalities, it marked a significant escalation in the ongoing efforts by Qubic to influence proof-of-work (PoW) blockchains. The AI-driven protocol’s activities have now expanded, as its community voted to target Dogecoin (DOGE) for its next experiment. This decision was announced via a post in Qubic’s Discord server, where Dogecoin received more than 300 votes over competing blockchains such as Zcash and Kaspa.

Qubic's "Useful Proof-of-Work" consensus mechanism leverages mining power to train an AI model known as AIGarth. By splitting computational resources between mining and AI training, Qubic incentivizes miners to participate in both processes. The Monero attack, for example, involved Qubic miners contributing to both Monero mining and AIGarth’s development. However, the team emphasized that the attack on Monero did not compromise the network’s functionality or privacy features. "The Monero network’s core functionality remains intact. Its privacy, speed, and usability have not been compromised," the Qubic team stated in a public update.

The shift in focus to Dogecoin appears to be strategic. Unlike Monero, which is designed to resist ASIC mining, Dogecoin is ASIC-compatible, making it a different challenge for Qubic’s mining infrastructure. The Qubic team cited the need to test the efficiency of its consensus model in mining an ASIC-based chain. Additionally, the visibility that Dogecoin commands in the broader crypto space may have played a role in the community's decision. However, Qubic founder Sergey Ivancheglo clarified that the project has no immediate plans to attempt a 51% attack on Dogecoin. He noted that such an endeavor would require months of development and preparation.

Dogecoin’s current hashrate of approximately 2.23 petahashes per second (PH/s) makes it a relatively smaller and potentially more vulnerable network compared to major cryptocurrencies like Bitcoin, which operates at 964 exahashes per second (EH/s). This has raised concerns among some members of the crypto community, particularly those in the Litecoin network, as Dogecoin currently operates in a merged mining arrangement with Litecoin. The merged mining setup allows miners to simultaneously contribute hashing power to both networks without compromising their performance. Litecoin has historically expressed strong support for Dogecoin, as reflected in a recent social media post stating, “Litecoiners support Dogecoin. Always have, always will.”

Despite the uncertainty surrounding Qubic’s intentions, the project has already seen a surge in interest following its Monero experiment. Qubic’s token, QUBIC, saw its market capitalization rise by nearly 28% in the week following the attack, reaching $363 million according to CoinGecko. However, this figure remains significantly below its all-time high of $577 million, set earlier this year. Qubic's marketing lead, Retrodrive, emphasized that the team’s next steps regarding Dogecoin remain speculative at this stage. “That would be speculation on my end. It's too early to tell,” he stated in response to inquiries about a potential 51% attack.

The evolving landscape of Qubic's activities highlights the growing intersection of artificial intelligence and blockchain mining. As the project continues to experiment with different proof-of-work networks, the broader crypto ecosystem remains closely watching. The implications of such experiments—particularly in terms of network security and decentralization—are still unfolding, and the response from the community and exchanges may shape the trajectory of Qubic’s efforts in the months to come.

Source: [1] After Attacking Monero, Qubic Sets Its Sights on Dogecoin ... (https://finance.yahoo.com/news/attacking-monero-qubic-sets-sights-193146462.html) [2] Monero's 51% Attacker Targets Dogecoin Next - Unchained (https://unchainedcrypto.com/moneros-51-attacker-targets-dogecoin-next/) [3] Monero's 51% Attacker, Qubic, to Target DOGE Next (https://cointelegraph.com/news/qubic-monero-51percent-attacker-target-doge-next)