What happens in the bitcoin network when two miners solve a block at the
same time?
The chain forks into 2 until one of the chains becomes longer which will become accepted as the continuation of the chain. The other fork will be discarded.
What is a stale block?
This was a valid block in the chain but was later discarded
How do stale blocks occur?
When a different for of the blockchain becomes longer and invalidates this one.
Why is it important to wait for more than one block to be confirmed when
sending or receiving a transaction?
To ensure the block with your transaction does not become stale.