I just noticed something quite controversial that has been happening on the Monero network over the past few months. Sergey Ivancheglo, the co-founder of IOTA known as CFB, has been heavily promoting his Qubic project through what he calls "useful proof of work" (uPoW), but basically he is incentivizing thousands of CPU miners to mine Monero.

The interesting part is that his share of the total Monero hash power has gone from less than 2% to nearly 27% since mid-May. That’s a huge jump in a short period, and the Monero community is quite nervous about it, obviously. Decentralization is one of Monero’s pillars, so seeing a single project accumulate almost a third of the network’s power raises real concerns about security and control.

However, Sergey Ivancheglo says that all of this is a "demonstration of economic principles" of the technology he’s developing with Qubic. He denies having malicious intentions but at the same time admits he knows it could disrupt Monero’s operation. That’s a bit contradictory, isn’t it? It’s like saying, "I don’t want to break your network, but I know I am breaking it."

The most curious part is that Ivancheglo announced that Qubic will stop reporting its hash rate participation starting in early August, supposedly to "raise awareness about the 51% attack risk." It seems more like a way to lower its profile than a transparency strategy, but that’s what’s happening in the Monero ecosystem right now. A technical experiment that has caused real tensions within the community.