- What happens in the bitcoin network when two miners solve a block at the same time?
It all depends on the next valid block mined, as whichever previous block, of the 2 mined at same time, was recognized/used by the next mined block, that block will be accepted by the network, as it will be the longest chain, and the other blocked will be the âstale/orphanedâ block, sending the transactions back to the menpool. Requiring 6 confirmations, as well as the 10 minute interval between blocks, aids in reducing stale/orphaned blocks.
- What is a stale block?
The orphaned block, or block that was the shorter chain of the two competing blocks, which was not accepted by the network, which results in sending transactions in that block back to mempool.
- How do stale blocks occur?
When two valid blocks are mined at same time, only one of those will be accepted by the network and the other will be dropped; the stale or orphaned block is the one dropped.
- Why is it important to wait for more than one block to be confirmed when sending or receiving a transaction?
To ensure immutability and prevent accidental double-spending.