Jiang Zhuoer published an article on the hash rate war: hash rate guerrilla warfare cannot kill a chain

Jiang Zhuoer, founder of Litecoin Mining Pool, posted on Weibo today:

1. Survival is the ultimate way of debate and the highest basis for determining right and wrong. Hash power can kill a chain, so hash power can become the highest arbitration mechanism of Bitcoin.

2. Through the "51% empty block attack", any transaction on a chain can be prevented from being packaged and confirmed, and after miners are unable to mine any blocks, they will gradually stop mining, and finally the chain will die.

3. To defend against the "51% empty block attack", you need to stick to the original chain, mobilize more computing power, and dig a chain longer than the attacker's, which in turn covers the attack chain.

4. The defender has mining output as a "defense deduction advantage". The greater the attacker's computing power, the smaller the defender's deduction advantage, and the smaller the attacker's financial advantage. Conversely, the greater the attacker's financial advantage, the smaller the computing power required.

5. Bitmain can use BTC’s computing power for the BCH computing power war, so its computing power is greater than CSW. CSW must have a financial advantage and a stronger will to burn money to win.

6. “Hash power guerrilla warfare” cannot achieve the ultimate goal of the hash power war: to kill a chain. “Hash power guerrilla warfare” has no meaning except to prolong the hash power war and cause damage to the ecosystem.

7. After the hash war, if the losing party admits defeat, the hash war ends and the surviving chain becomes BCH. If the losing party does not admit defeat (CSW continues to fight guerrilla warfare, or ABC changes to POW+POS algorithm), BCH will split into two coins, BCH and BSV.

8. If CSW insists on conducting a “computing power guerrilla war”, the ABC development team will need to patch, and the mining pool and exchange will need to cooperate to eliminate the impact.