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The stability of Monero is questioned when the chain encounters a reorganization issue of 18 blocks.
Monero, the privacy-focused cryptocurrency, has just undergone the largest chain reorganization in history, with 18 blocks being replaced and 118 transactions being deleted on September 14. This incident has raised concerns about the stability and resilience of the network against the risk of hashrate centralization.
The reasons for a reorganization usually stem from blocks being mined simultaneously, software bugs, or network attacks. In the case of Monero, miners must choose between opposing branches before reaching consensus, causing many transactions that seemed to be confirmed to be invalidated.
Attention quickly shifted to Qubic, a blockchain project capturing 2.11 GH/s of the total 6.00 GH/s of Monero, the largest on the network. Some analysts believe that Qubic just wants to showcase its power rather than profit. However, experts warn that this situation could erode investor confidence in Monero.