- What happens in the bitcoin network when two miners solve a block at the same time?
Two different versions of the blockchain are propagated throughout the network. Eventually, one of the blocks becomes orphaned, depending on which blocks obtains a subsequent block.
- What is a stale block?
Stale blocks are blocks that are added to the longest chain. They are blocks that never have blocks added to them. Essentially, they are dropped from the network as they are no longer considered the longest chain.
- How do stale blocks occur?
Stale blocks occur when blocks are mined simultaneously. This is because the network does not have enough time to propagate the longest chain across the network, so half the network may have one version whereas the other half has another version.
- Why is it important to wait for more than one block to be confirmed when sending or receiving a transaction?
This is important because the block the transaction is included in could be orphaned/stale.