Why Is a Longer Chain Always Considered the Canonical Chain?
The "longest chain rule" is the core of PoW consensus. It is based on the probabilistic assumption that the chain with the most cumulative Proof-of-Work (i.e. the most hashing power expended) is the one created by the honest majority.
This rule is what allows the network to converge on a single, shared history, ensuring that the double-spent transaction is eventually orphaned.
Glossar
Longest Chain
Consensus ⎊ The longest chain rule is the core mechanism for achieving consensus in Proof-of-Work systems like Bitcoin.
Longest Chain Rule
Consensus Rule ⎊ Longest Chain Rule is the fundamental protocol mechanism dictating that in the event of a temporary fork, the chain exhibiting the greatest cumulative proof of work or stake is recognized as the canonical and valid history, thus finalizing transactions.
Longer Chain
Chain ⎊ In the realm of cryptocurrency derivatives, a "Longer Chain" refers to a strategy involving the construction of option positions with extended expiration dates relative to the underlying asset's lifecycle or anticipated volatility regime.