- What happens in the bitcoin network when two miners solve a block at the same time?
For a short period of time we will have 2 versions of the blockchain, until one of them (the shorter one) will be discarded.
- What is a stale block?
A valid block that has been discarded from the chain due an accidental âforkâ.
- How do stale blocks occur?
When 2 miners finish a block at approximately the same time and/or the changes in the chain are not propagated fast enough, so miners choose to continue on different blocks causing a temporary fork. One of the chains in the fork will eventually be dropped, the blocks in it will become stale and the transactions included again in the mempool.
- Why is it important to wait for more than one block to be confirmed when sending or receiving a transaction?
To reduce the risk of the blocks where our transactions where included to become stale.