What happens in the bitcoin network when two miners solve a block at the same time?
- Both blocks get added to the blockchain
What is a stale block?
2. A stale block is a block or string of blocks that get dropped from the blockchain. When this happens the TX’s get put back into the mempool.
How do stale blocks occur?
3. Stale blocks occur when 2 blocks complete their puzzle solving at the same time and hence both get added to the blockchain. At this point there is a fork and effectively 2 separate blockchains. When the next block is completed it attaches itself to one of the 2 blockchains it considers is the true blockchain which then makes that chain the longest chain, and as the blockchain considers the longest being the truest it drops the other forked chain and blocks thereby leaving a single chain again.
Why is it important to wait for more than one block to be confirmed when sending or receiving a transaction?
4. To allow the time to propagate the updated blockchain information globally throughout the network.