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What happens in the bitcoin network when two miners solve a block at the same time?
When this occurs the longer block is acceted by the next node / miner that is looking to confirm a transaction form the mempool. The longer blockchain s accepted and the shorter is orphaned… returning its unconfirmed transactions to the mempool. -
What is a stale block?
- A stae block is an orphaned block whos transactions will be retruned to the mempool
- How do stale blocks occur?
When 2 miners submit a confirmation at the same time, but the other blockchain is longer and accepted as truth
- Why is it important to wait for more than one block to be confirmed when sending or receiving a transaction?
- To ensure that the confirmation is accepted and propagated through the network