Homework on Stale Blocks.
- What happens in the bitcoin network when two miners solve a block at the same time? Both blocks would be valid; however, sooner or later the blockchain with the longest blockchain and with the most difficult Proof of Work will be the truth that will prevail.
- What is a stale block? Blocks that were in the blockchain at one time but were dropped because of a competing blockchain. Dropped blocks are called stale blocks or orphaned blocks.
- How do stale blocks occur? When blocks are coming out at a faster rate and begin to compete with each other. The longest blockchain prevails. The blockchain with the most proof of work and the difficulty of the blocks would prevail. The blocks that are no longer use become stale.
- Why is it important to wait for more than one block to be confirmed when sending or receiving a transaction? To prevent your block from being dropped and to maintain the efficiency of the blockchain. The best practice is to wait for 6 confirmations to come after your block to be confirmed.