1. What happens in the bitcoin network when two miners solve a block at the same time?
If two miner find a block at around the same time, it would result in a temporary split of the blockchain.
Since both blocks are deemed valid by the consensus mechanism, this split would occur because of the time it takes to propagate that block to all nodes.
( Some nodes will receive block A first and other would receive B first )
2. What is a stale block?
A “Stale” or “Orphaned” block is a block that once was valid and connected to the blockchain but later dropped due to the temporary split resulted from two miners finding a block at the same time.
3. How do stale blocks occur?
Stale blocks occur when 2 versions of a valid blockchain are converging back into one chain.
The transactions present in the stale block but NOT present in the Block on the longest chain will be send back to the mempool.
4. Why is it important to wait for more than one block to be confirmed when sending or receiving a transaction?
Because it takes a few blocks to fully confirm that the block that holds the transaction you send or received will not be dropped and become a “Stale Block”.