What happens in the bitcoin network when two miners solve a block at the same time?
One miner will win and the chain will fork temporarily. the chain with the longest proof of work blockchain will win and the shortest will be orphaned and the transactions go back into the mempool.
What is a stale block?
A block that was in the blockchain but then dropped when the longer chain wins. aka orphaned block.
How do stale blocks occur?
Since this is in a global network, they occur when two miners mine a valid block at the same time, creating two different âversions of the truthâ but then it is dropped when the longer chain wins and continues on without it.
Why is it important to wait for more than one block to be confirmed when sending or receiving a transaction?
It is important to wait for the recommended six confirmations in case a fork has occurred to make sure it is secured in the blockchain and does not become stale or orphaned.