Homework on Mempool - Questions

[Saula_Atama]

1. What is the mempool?
   It is a memory bank where unspent money or transactions is stored.

2. What happens if the miners can’t keep up with the rate of the new transaction?
   It will sit in the mempool until a miner picks it up, meaning a longer time for the transaction.

3. How does a growing mempool effect transaction fees?
   The transaction that has a higher fee will have a get mined or taken first.

[Samantha_St_Sm]

1. What is the mempool?
   The mempool it’s where all unconfirmed TX are send by the nodes in wait of a Minor to pick it.

2. 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 then the mempool grows larger and there are longer transaction times.

3. How does a growing mempool effect transaction fees?
   Transaction fees increase with a larger mempool because of the competition to get the transaction to the next block.

[Nuno]

@ivan

Homework on Mempool - Questions

1. What is the mempool?
2. What happens if the miners can’t keep up with the rate of the new transaction?
3. How does a growing mempool effect transaction fees?

1. A mempool is the collection of unconfirmed but valid transactions every node has received

2. If the miners can’t keep up with the rate of new transactions being added to the network, transactions will accumulate in the collective mempool, waiting to be picked up by miners

3. One possible consequence of a growing mempool is higher transaction fees, since users sending transactions will start competing for miner attention, raising fees so their transactions have a greater chance of being selected by miners to be included in the next block

[Orantes]

1. What is the mempool?
   The mempool is the list of all unconfirmed transactions that have not been verified by miners and placed into the next block.

2. What happens if the miners can’t keep up with the rate of the new transaction?
   The list or line of unconfirmed transactions becomes larger and the fees per transaction can and will most likely increase.

3. How does a growing mempool effect transaction fees?
   A growing mempool will cause miners to take priority transactions, or transactions that pay the highest miner fees first. This can make smaller value transactions on the network difficult to accomplish during high peaks in the mempool.
   [/quote]

[mraustinhicks]

1. A mempool is a list of unconfirmed transactions that have been verified by a particular node

2. The size of the mempool will increase

3. It is supply and demand. The new transactions are the demand and the miners are the supply. So if the demand outweighs the supply then the fee for the service goes up

[Nelson1]

1. The mempool is a list of transactions in “unconfirmed” status.

2. The mempool will grow and would drive the fees higher due to high demand for miners.

3. It would drive the transactions fees higher.

[CryptoHulk]

@ivan

• What is the mempool?
• What happens if the miners can’t keep up with the rate of the new transaction?
• How does a growing mempool effect transaction fees?

1. It is a shared database of unconfirmed transactions.
2. The queue of the unconfirmed transactions is getting bigger, transactions taking more time to be processed, and fees are getting more expensive, and miners prioritize nodes who decided to pay bigger fees for the transaction.
3. Please read above

[Marcelle]

1. It’s all unconfirmed transactions that haven’t been written onto the blockchain yet
2. Transactions then take very long to get confirmed
3. Transactions fees go up if the mempool get full to incentivise the miners to pick the highest paying transactions first

[Chente718]

1.A mempool is filled with pending transactions.
2.The mempool starts to grown with backed up transactions an increases tx fees.
3.tx fees are prioritized by highest fee with the smallest byte size to fill blocks.which increases fees

[Staywell]

1. mempool refers to the node space with a collection of unconfirmed transactions.
2. mempoo,l and waiting time both grow until they can be blocked
3. potential of increase, because the miner’s are incentivized by higher fees.(They’ll mine for higher fees first)

[Canadian]

1. List of all unconfirmed txs.
2. Mempool backlog increases.
3. Tx fees increase.

[Reishi]

1.total of unconfirmed transactions
2.the mempool becomes bigger
3.the fees go up

[JJ.kush]

1. A cryptocurrency’s node mechanism for storing information on unconfirmed TX’s.
2. Mempool size will increase.
3. size and data go up = transaction fees go up.

[jason]

1. What is the mempool?

a mempool is a node’s list of UTXOs

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

the mempool grows larger

3. How does a growing mempool effect transaction fees?

transaction fees will increase as people want their transaction to be picked up by miners

[BrunoM]

1. Each node has a list of unconfirmed transactions that are stored in memory called mempool
2. The miner first select the unconfirmed transactions in its mempool that have the highest fees to build the block. The transaction fee is calculated as satoshi per byte.
3. The block has a limited size of bytes. A growing mempool size will use increase the transaction fee rate.

[Sarokanaan]

1. What is a mempool?
   –Mempool is a database that contains all unconfirmed transactions, which miners will use to put into the next block and render them confirmed.
2. What happens if the miners can’t keep up with the rate of the new transaction?
   –The rate of transaction confirmation will slow down and the transactions will take longer to process.
3. How does a growing mempool effect transaction fees?
   The growing mempool will cause transaction fees to rise, so it slows down the rate of transaction submission which in turn will help the miners keep up with confirming each transactions. The transactions with the largest fees get moved to the blockchain quicker than cheaper fees.

[sandrau]

1. What is the mempool?
   This is a cryptocurrency node’s mechanism for storing information on unconfirmed transactions., It functions as a waiting room for transactions that have not been added in a block…

2. What happens if the miners can’t keep up with the rate of the new transaction?
   The mempool grows larger and this will create congestion in processing transactions. .

3. How does a growing mempool effect transaction fees?
   A growing mempool affects transaction fees in the following ways.
   a) If the mempool is full, the fee market becomes competitive because users will compete to get their transactions into the next block by entering higher and higher fees.

[Cryptofuture]

1. Mempool is a storage where unconfirmed transactions stored or wait until miners pick them up and put them in the next block for confirming the transactions

2. The confirming time of a transaction will be longer due to having limited blocks.

3. Growing mempool increases the transaction fee because of the competition, whoever offers more transaction fees will get faster service. In other words, the transactions will be confirmed much faster if the miner gets more fees.

[JoeVogel]

1. A mempool is where a transaction goes after a wallet has constructed a transaction and then it goes into a unconfirmed transaction list in each node(into the mempool).

2. If the miners can’t keep up with the rate of the new transactions the mempool gets bigger and transactions take longer to complete.

3. A growing mempool effects transaction fees because miners always take the most expensive transfers first, so if you want your transaction to happen faster you have to pay more, thereby driving up the cost of transactions.

[thenode369]

Homework on Mempool - Questions

1. What is the mempool?
   The mempool is a storage location on each node (including miners) where all the unspent transactions are held.

2. What happens if the miners can’t keep up with the rate of the new transaction?
   The mempool increases in size which affects the speed the transactions are completed, which slows down, causing a backlog to pending transactions

3. How does a growing mempool effect transaction fees?
   When a mempool grows miners are more likely to go for transactions with a highest fee available to fill a block for which there is financial incentive (sat/b)