Homework on Mempool - Questions

[CryptoJedi]

1. What is the mempool?
   The place where transactions wait to be mined
2. What happens if the miners can’t keep up with the rate of the new transaction?
   The mempool keeps growing with unmined transactions
3. How does a growing mempool effect transaction fees?
   Fees begin to get larger and larger. Miners will choose transactions with higher fees and transactions with lower fees will take longer to be confirmed.

[wynand]

1. It is all the unconfirmed transactions that are stored in memory one the nodes until a miner picks them up.
2. The mempool will grow bigger, more transactions will be awaiting confirmation, and peoples payments will start taking very long to go through.
3. It will push up transaction fees since there is more and more competing to get your transactions confirmed.

[Rumplebitskin]

1 list of unconfirmed Transactions ( tx)
2 mempool grows larger
3 fees increase w/competition to be added to block

[Stormie]

1. What is the mempool?
   The section where unconfirmed transactions are kept until they are added to a block.

2. What happens if the miners can’t keep up with the rate of the new transaction?
   The amount of unconfirmed transactions in the mempool will increase, the confirmation time will be longer and there will be an increase in priority fees.

3. How does a growing mempool effect transaction fees?
   Miners are incentivised by the rewards. If there is a large mempool of unconfirmed transactions, the miners will select the transactions with the higher fees. People sending the transactions may flag a high fee for the transaction to be confirmed quicker.

[Cryptomech410]

1. What is the mempool?
   It the list/location where all unconfirmed transaction are kept till the next block is built.

2. What happens if the miners can’t keep up with the rate of the new transaction?
   It slows the system down, miners not keeping up leads to larger mempools which in turn leads longer wait times because miners are picking ones that reward them more then others.

3. How does a growing mempool effect transaction fees?
   Increase the larger the mempool the higher the fee unless you have time to wait. Miners pick the ones with the highest fees first.

[nioctib]

1. The mempool is a record of unconfirmed transactions.

2. The size of the mempool will increase. This may cause longer transaction times.

3. It causes transaction fees to rise.

[Nick_Roses]

1- storage of pendent transactions
2 the mempools grow
3 transaction fees increase

[Tokenomist]

Homework on Mempool - Questions

1.What is the mempool?
Mempool is database for unconfirmed transactions

2. What happens if the miners can’t keep up with the rate of the new transaction?
   It packs the mempool and transactions confirmations will be longer

3. How does a growing mempool effect transaction fees?
   Fee will increase

[RoryPhilBTC]

1. Mempool is a list that stores all unconfirmed transactions and is stored on each node.

2. The mempool will grow larger and you would need to pay higher fees for miners to want to confirm your transaction in the block.

3. You would need to pay more in transaction fees if you want it to go through in a reasonable time.

[hodltimo]

1. What is the mempool?
   The mempool is a list that every node or miner carries around with tx that have not been included in the next block.

2. What happens if the miners can’t keep up with the rate of the new transaction?
   They are stacked in the mempool and waiting to be processed. Usually the miners take those tx first that have the highest fees. so if you don’t want to wait you need to increase the fees.

3. How does a growing mempool effect transaction fees?
   If the mempool grows participants need to increase tx fees to get their tx processed.

[iceman12276]

1. What is the mempool?
   It is a list of unconfirmed transactions.

2.What happens if the miners can’t keep up with the rate of the new transaction?
The men pool gets larger

3.How does a growing mempool effect transaction fees?
Well if you a transaction with a lot software inputs that produces outputs the fee gets higher and with a large mempool there is bigger probability of having those transactions.

[wildev82]

1. A memepool is a list created by a node or miner of transactions that have been verified by the network but are still unconfirmed by a miner. Once a miner has taken the transactions from the list of the node it is removed and can be assumed its confirmed. The same transactions can appear in different node memepool as when the wallet broadcasts the transaction initially the network of nodes has to confirm it, and so the node memepool for each different node will contain similar transaction data but probably in a different order as the node receives it as it crosses the network.
   2.the memepool size grows and confirmation and transaction time increases.
   3.As the memepool grows to get you transaction confirmed faster you will pay a higher transaction fee, this is because miners will priorities transactions with higher transaction fees as they have the financial incentive to do so and if you want your transaction confirmed and in the next block you will pay more in the free market way in which this works.

[nscholten]

1. The mempool is the location where unconfirmed transactions are located.

2. The size of the mempool rises.

3. The transaction fees rise.

[Jason.GvO]

1. What is the mempool?
The Mempool is the collection of all unconfirmed transaction that a node has safed.

2. What happens if the miners can’t keep up with the rate of the new transaction?
The Mempool will grow, since there are more unconfirmed transactions.

3. How does a growing mempool effect transaction fees?
Since the miners pick up the transaction with higher fees (because they are incentivised monetarly), a growing Mempool increases the competition between unconfirmed transactions and therefore the fees.

[Daniel_Maurrasse]

1. A Mempool is a data structure that each node has. It is a list of unconfirmed transactions. Each node puts the unconfirmed transactions in the Mempool.

2. If Miners can not keep up with the rate of the new transactions the Mempool will grow and the transaction time and overall confirmation time increases.

3. A Growing Mempool increases Transaction Fees. Almost like supply and demand. Since Miners want to make money, they are incentivized to process transactions with higher fees

[kengin2013]

1. What is the mempool?
   mempool is a data-structure that contains unconfirmed transactions that each node has
2. What happens if the miners can’t keep up with the rate of the new transaction?
   the mempool increases
3. How does a growing mempool effect transaction fees?
   it increases the transaction fees

[Alko89]

@kengin2013

the hash rate is reduced

a growing mempool doesn’t effect hashrate in any way, it merely results in transactions getting backlogged, resulting in higher fees.

[nathangray]

1. the mempool is where nodes have copies of transactions yet to be confirmed by miners.
2. the miners can choose at what rate or what transactions they want to enter into said blockchain. I dont believe this to currently be a problem with the amount of miners and incentives for them.
3. It can effect the fees by using up more bytes in said transactions which in turn would increase the fee.

[Joshua_Fox]

1. Mempool is a list of unconfirmed transactions that live on nodes in the blockchain.
2. Mempool gets bigger
3. There is a premium for the priority of transactions, price goes up.

[magcargar]

1. What is the mempool?
   It’s a record for all the uncorfimed transactions are.
2. What happens if the miners can’t keep up with the rate of the new transaction?
   The mempool grows up
3. How does a growing mempool effect transaction fees?
   You will have to pay more fees.