The rule is to observe the strongest chain, i.e., the chain that comprises essentially the most work is taken into account the one the whole community ought to observe (the chain of fact). If a brand new chain seems that differs in a number of of blocks (even as much as 20/30; perhaps 100), it’s not that vital downside; the community will swap to that new, stronger chain. Nevertheless, what would occur if a completely new chain ranging from the genesis block appeared with extra computational energy than the present one? In accordance with the principles, we must always observe the strongest (the brand new) chain, and all nodes that do not accomplish that could be thought of invalid. However would the community actually swap to this new chain? It’s proper to make the transition, but when it was achieved utterly, everybody would lose their cash in Bitcoin, individuals would lose confidence within the community, and it might utterly collapse.
Due to this fact, in concept, and what’s right is to transition to the stronger chain, however would it not actually be achieved?
I am not asking for predictions concerning the future or somebody telling me what would occur in hypothetical situations, however I assume that individuals who have been concerned in Bitcoin for over 5/10 years have considered this, and discussions on this subject might need taken place within the Bitcoin group (conferences, boards, casual conversations, and so forth.). I count on there have been conclusions drawn from these discussions.
