- What happens in the bitcoin network when two miners solve a block at the same time?
one will win eventually, the longest blockchain will win. One blockchain, the shortest will be orphaned and dropped.
- What is a stale block?
orphaned block on the shortest blockchain where there has been another version of the truth that has been accepted by the decentralised nodes.
- How do stale blocks occur?
by two version of the truth or blockkchains being produced or propagated in the network and maybe blocks being produced prior to the 10 mins. Blocks being produced prior to six confirmations and prior to the correct version of the truth having the chance to propagate through the network.
- Why is it important to wait for more than one block to be confirmed when sending or receiving a transaction?
to see if that chain has been accepted by the decentralised network. The more confirmations the longer the blockchain length. The longest blockchain is the one that is accepted as the greatest version of the truth so miners extent it more by resolve the nonce for the next block reward.