- What happens in the bitcoin network when two miners solve a block at the same time?
Two versions of the truth are propagated on the blockchain.
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What is a stale block?
A stale block is a block that is dropped by the network and the it’s transactions are sent back to the meme pool. -
How do stale blocks occur?
When two miners solve a block at the exact same time two blocks with the same versions of the truth are propagated on the network. Whichever block the next miner chooses to sync hash with will continue the chain and the other block will be dropped from the network. This is because the network will always choose the longest chain. The dropped blocks are known as stale blocks. -
Why is it important to wait for more than one block to be confirmed when sending or receiving a transaction?
Incase the situation occurs when two miners solve a block at the same time the system is a global system and therefore needs time to physically travel and confirm which block it will be continuing with and which is a stale block.