Homework on Mempool - Questions

Blockchain and Bitcoin 101
#4736
  1. What is the mempool?

The mempool is a list that each node has with the unconfirmed transactions.

  1. What happens if the miners can’t keep up with the rate of the new transaction?

If the miners can’t keep up with the rate of the new transactions this transactions will go to the mempool waitig for the next block.

  1. How does a growing mempool effect transaction fees?

The fees of the mempool increases if there are much unconfrimed transactions because all the transactions will compite each others to enter as soon as in the next block.

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#4737
  1. the mempool is the space were all verified transactions go to be confirmed
  2. the mempool size increases
  3. it means fees will go up due to competition for spots for the new blocks. highest fee gets priority
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#4738

  1. The mempool is where you find all unconfirmed transactions.

  2. There becomes a backlog of pending transactions and they take much longer to confirm.

  3. There is increase in transaction fees

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#4739
  1. The mempool is a list of pending transactions to be confirmed. All the full nodes have a copy of it.
    2.The mempool grows.
    3.Transaction fees increase because the cblockchain demand raises.
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#4740
  1. What is the mempool?
    list of uncomfirmed transactions
  2. What happens if the miners can’t keep up with the rate of the new transaction?
    more and more utxo are added to the mem pool and longer it will take for transcation to go through
  3. How does a growing mempool effect transaction fees?
    the go up
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#4741
  1. It is a place where unconformed transaction waits for a miner for to pick them and to the next block.
  2. Than there are longer transaction fees.
  3. Transaction fee increase with larger mempool because of the competiton to get the transaction to the next block .larger fees are offered to get the transaction picked first.
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#4742
  1. What is the mempool? A mempool is where the transactions queue up for the miners to confirm.
  2. What happens if the miners can’t keep up with the rate of the new transaction? Transaction times take longer
  3. How does a growing mempool effect transaction fees? Fees increase when it is growing if there are too many. Miners go for first for higher fee.
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#4743
  1. The mempool is a list of unconfirmed transactions. Every node will have its own list, some of which may be different from other nodes depending on how soon they receive updates on the latest transactions.
  2. The miners will be more selective and choose the transactions with the highest fee since miners are financially incentivized especially since they have limited space within the block they create. This in turn creates a bigger mempool and possibly a rise in transaction fees.
  3. A growing mempool would lead to higher transaction fees because it means there’s a long list of unconfirmed transactions, which in turn increases the number of bytes the miners will have to deal with when adding transactions to the blockchain. Unlike most fiat systems where a percentage of the amount in the transaction is charged, miners reap their benefits from transaction fees that are based on how much satoshi they can gain per byte on a transaction.
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#4744

Q1. What is the mempool?
A. A mempool or memory pool is a separate database of unconfirmed transactions found within nodes connected to the blockchain. These databases are accessed by miners who collate the data into blocks which are then validated by the other nodes on the network, confirming the transactions and adding them to the ledger.

Q2. What happens if the miners can’t keep up with the rate of the new transaction?
A. The mempools will fill up as more transactions must wait to be added to a block and confirmed on the network.

Q3. How does a growing mempool effect transaction fees?
A. Transaction fees rise as there are more unconfirmed transactions relative to the fixed rate of blocks confirmed on the blockchain, causing miners to prioritise transactions offering higher fees.

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#4745
  1. The mempool is unconfirmed transactions waiting to be picked up in a sense by the miners so that they can be confirmed in the blockchain.
  2. If the miners can’t keep up with the new transactions, the pool will grow, leading to longer transaction times.
  3. The transaction fees will go up because there is more competition in the mempool. When there is competition, the fees “outbid” one another to become confirmed in the next block first.
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#4746

A mem pool is a list of all transactions that have not yet been put on the block
if miners can not keep up it will create a back log and there will be longer transaction times and possibly larger transaction fees ( gas fees )

if the block is full the miner will choose who will pay more and mine that tranaction first

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#4747

  1. The mempool is where unconfirmed transactions are stored as they are being confirmed by the different nodes in the system.

  2. The mempool becomes overloaded and fills up with pending transactions which increase fees.

  3. If the block is full, the highest bidder gets priority…

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#4748

1 A list of pending transactions.
2 It grows…And so can the fees.
3 Who pays more goes first.

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#4749
  1. What is the mempool?
    The list of transactions waiting to be picked up a miner
  2. What happens if the miners can’t keep up with the rate of the new transaction?
    The transactions become part of the mempool (backlog) and will wait to be picked up by a miner.
  3. How does a growing mempool effect transaction fees?
    Transaction fees go up since miners will pick the transactions with the highest fees first, thereby creating “competition” among transactors wanting to have their transaction processed sooner.
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#4750

The mempool is an area within each node where unconfirmed transactions are placed until a miner confirms it and puts it on the blockchain.

The mempool grows, and transactions take longer to confirm.

A growing mempool increases the average transaction fee because more transactions want to be confirmed, and higher fee transactions are prioritized—Law of supply and demand.

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#4751

1 - It is a pool of unconfirmed transactions collected by a node or a miners node.

2 - the mempool grows and transaction time increases.

3 - Fees increase and transaction time could also increase.

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#4752

  1. What is the mempool?
    Mempool is a pool of unconfirmed transactions that nodes place until a miner picks up the transaction once a block is produced the unconfirmed transaction is then removed from the mempool by the miner node signaling the other nodes in the network to do the same on their mempool.

  2. What happens if the miners can’t keep up with the rate of the new transaction?
    if miners cant keep up with the rate of the new transaction the mempool grows and will take a longer time to be picked up by the miner.

  3. How does a growing mempool effect transaction fees?

A growing mempool causes transactions to become on a waiting list until being confirmed by a miner where higher transactions of satoshi/byte are prioritized due to higher fee incentives.

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#4753
  1. What is the mempool?

The mempool is a data structure where unconfirmed transactions go before they are added to a block and finalized by a miner.

  1. What happens if the miners can’t keep up with the rate of the new transaction?

Then the transaction takes longer to be finalized and fees are higher.

  1. How does a growing mempool effect transaction fees?

Miners are incentivized to pick the highest fees. A growing mempool means more competition for block space and higher fees being needed to persuade a miner to add your transaction to a block.

Larger mempool = higher fees.

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#4754

1. What is the mempool?
It’s a list of all unconfirmed transactions we know about. Each node has its own and it’s updated constantly.
2. What happens if the miners can’t keep up with the rate of the new transaction?
Miners can choose which transaction they want to add to the block they will try to mine and confirm. To main criterion of selection is how much they will make in satoshis per Byte. This matters a lot since the size of a block is limited, so the more satoshis per Byte, the more money will be gained when mining the block. So the rate of new transaction doesn’t matter as the miner will only select the ones paying the most per Byte.
3. How does a growing mempool effect transaction fees?
The higher the mempool, the more transactions are pending and therefore the mort we might have to pay to be in the top paying part that will be selected for the next block.

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#4755

1 - Is a list that contains all the unconfirmed transactions
2 - The transaction is put in the next block
3 - If the fee is more the transaction is fast, because has priority in satoshi/Bytes

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