Homework on Mempool - Questions

Blockchain and Bitcoin 101
#1989

  1. The mempool is a list of all the unconfirmed BTC transactions.

  2. The unconfirmed transactions will go into the mempool pending confirmation by miners.

  3. Transaction fees will increase because people will offer more satoshi to expedite their transactions because miners will always choose to process transactions that are offering the highest fee.

1 Like
#1990
  1. The mempool is a data structure that stores unconfirmed transactions until they are added to the next block.
  2. If miners can’t keep up, the mempool size and transaction fees grows.
  3. With growing mempool only transactions with highest fees are being added to the block, so average transaction fees are increasing.
1 Like
#1991

Mempool contains pending transactions.

Mempool and transaction fee will increase.

Transactions with higher fees will get priority.

1 Like
#1992

  1. The mempool is the data structure of EACH node, this is where the node will store unconfirmed transactions. The mempool may vary from node to node but it is updated between each node.

  2. Miners will take the transactions with the highest fees if they can not keep up with the network, so if you have a transaction with a low fee the miner might not take it right away as they are adding the transactions with higher fees first.

  3. A growing mempool will cause a rise in price on the fees as their will be more competition to have transactions confirmed by a miner.

1 Like
#1993

Q: What is the mempool?
A: A mempool is a collection of unconfirmed transactions belonging to a node. Transactions which a node considers to be legitimate, but have not yet been confirmed by a miner.

Q: What happens if the miners can’t keep up with the rate of the new transaction?
A: The size of the mempool grows and a backlog is created.

Q: How does a growing mempool effect transaction fees?
A: Transaction fees will go up. This is because if there are a lot of transactions waiting in the mempool, miners will pick up the ones with the higher fees. So there is incentive for people to attach higher transaction fees to their transactions.

1 Like
#1994

  1. A mempool is a special place within nodes, that a list of unconfirmed txs which have been broadcast to the network, but not yet been picked up by a Miner, sit and wait for the Miner to choose txs from to put them into a block.

  2. If the miners can’t keep up with the rate of the new transaction the mempool will grow in size and it will take longer for the tx to be chosen, do to it being a fee market.

  3. Fees will begin to grow as well when a mempool grows, do to the people competing with other transactions. The higher the fee, the more likely the tx will be put into a block faster.

1 Like
#1995

  1. A pool of unconfirmed transactions. Each mining node has a mempool that might be somewhat different than the mempools of other miners.

  2. unconfirmed transactions do not get added to the block and stay in the mempool.

  3. Transactions with the higher fees are incentivized to be confirmed first. Transactions with lower fees can get stuck in the mempool and take longer be be confirmed.

1 Like
#1996
  1. A pool of unconfirmed transactions that make sense to a node.
  2. This creates a backlog.
  3. A growing mempool creates higher fees as the nodes choose the transactions offering the highest fees.
1 Like
#1997

  1. What is the mempool?
    Mempool is a place where valid and unconfirmed transaction are stored in the node

  2. What happens if the miners can’t keep up with the rate of the new transaction?
    Transactions with highest fees gets processed first. If miners can’t keep up with the rate of the new transactions, transactions with lower fees will have to wait longer before they are processed.

  3. How does a growing mempool effect transaction fees?
    A growing mempool will cause transaction fees to increase as users compete to get their transactions into the next block by paying higher fees.

1 Like
#1998
  1. What is the mempool?
    Mempool is the list of unconfirmed transactions that will be broadcast to other nodes to include further into the other nodes’ list of unconfirmed transactions. I think it can be seen as the waiting list of unconfirmed transactions that’s broadcasted in the blockchain until it is mined.
  2. What happens if the miners can’t keep up with the rate of the new transaction?
    Mempool will become larger.
  3. How does a growing mempool effect transaction fees?
    It will increase the fee because people would like their transaction to go through faster, thus bidding by increasing fees in satoshis / Byte.
1 Like
#1999

  1. The mempool is a space where unconfirmed transactions wait to be selected from a miner to get added to a next block.

  2. If miners can t keep up with rate of a new transaction, the unconfirmed transaction waits longer in the mempool which growths.

  3. A growing mempool of a miner offers him the opportunity to select the biggest-sized or highest fees transactions first. This could force the price of binary smaller transaction to increase fee to pay to get picked up.

1 Like
#2000

  1. A pool of unconfirmed txs

  2. Longer tx time

  3. Fees get increased and now there’s more competition which increases the cost of computation to speed up the chosen txs to move to the next block.

2 Likes
#2001
  1. It’s a list of unconfirmed transactions that can vary between full nodes as transactions propagate at different rates.
  2. Transactions will remain in the mempool until they can be included in a block, and thus unconfirmed for that duration.
  3. Transaction fees will increase as the mempool grows because new transactions will tend to compete for prioritization by the miners.
1 Like
#2002

The mempool is the list of pending transactions in a node
Miners process the transactions with the highest transaction rate first, the rest get postponed
A larger mempool raises the transaction fees

1 Like
#2003
  1. how many transactions that are unconfirmed and how much fees are charged.
  2. the transaction gets placed in the mempool and it grows and transaction times are longer.
  3. your transaction fee should be higher if you want the miner to take your transaction and add it to the blockchain.
1 Like
#2004
  1. It’s like a queue where all pending TX are waiting to get a confirmation from miners.
  2. Pending transactions queue will increase until the fee prices goes lower.
  3. TX with higher fees will be picked before or on top of other pending TX with lower fees.
1 Like
#2005
  1. The mempool is a list of unconfirmed transactions.
  2. A backlog of unconfirmed transactions will build.
  3. Transactions will get more expensive.
1 Like
#2006
  1. Each node has a list of all uncorfirmed transactions, this is the mempool.
  2. Transaction time will increase.
  3. A growing mempool means higer transaction fees because of the competition to get the transactions
    to the next block. Miners want to make money and they will pick the transactions with the highest
    fees first to build the next block.
1 Like
#2007

  1. A collection of unconfirmed transactions in a node.

  2. The mempool grows.

  3. Like a market, the highest fees get confirmed first. As a mempool grows, so do the fees (there’s more demand).

1 Like
#2008

  1. A mempool is a data base sent to nodes for approved transactions that need to be confirmed and added to the blockchain.

  2. Miners are not sent every single unconfirmed transaction. The data base puts new transactions nin every ten mins alomg with removing ons added to the blockchain. A miner can also ask anothet miner for unconfirmed transactions.

  3. Growing mempools will effect transaction fee in that the miner will prioritize the transactions that will give them tge higest fee. Larger mempools also means that the confirmation of the transaction will take longer because of the congested mempool.