1. What happens in the bitcoin network when two miners solve a block at the same time?
The longer blockchain will win out and the shorter one will be dropped and be returned to the mempool.
2. What is a stale block?
A block that was dropped because it was part of a shorter chain that temporarily forked off until the longer chain won out.
3. How do stale blocks occur?
Stale blocks occur when two miners solve a block at the same time without knowing of the existence of the other. The shorter chain becomes the stale block and is returned to the mempool.
4. Why is it important to wait for more than one block to be confirmed when sending or receiving a transaction?
It is a best practice to wait for six confirmations so you know for sure you are on the longest chain and you are not part of a stale block.