Homework on Mempool - Questions

[TomDrones]

Homework on Mempool - Questions

1. What is the mempool?
   The mempool is a list of unconfirmed txs that each node holds. It also shows what fees are being paid to incentivize miners to organize the transaction into the blockchain.

2. What happens if the miners can’t keep up with the rate of the new transaction?
   If miners cannot keep up with new transactions the unconfirmed txs grow the mempool’s size (# of unconfirmed txs).

3. How does a growing mempool effect transaction fees?
   A growing mempool size affects transaction fees because the more transactions there are in the mempool the higher the fees would be for the miners to prioritize the senders tx into the next block.

[ArubianCryptoLady]

1. What is the mempool?
   Is a datastructure that each node has, each node has a list of un comfirmed tTX, The list is a mempool.

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

• The mempool will keep on growing*

3. How does a growing mempool effect transaction fees?
   The higher the fees will be

[merlod911]

1. What is the mempool? The mempool is an area in the node where unconfirmed transaction are temporarily stored before confirmation.

2. What happens if the miners can’t keep up with the rate of the new transaction? If too many transaction arrive a traffic jam occur this result in slower confirmation time and higher fees

3.How does a growing mempool effect transaction fees? As the transaction accumulates and node mempool reaches capacity the node will prioritise transaction by setting higher fees threshold.

[kurtis27]

1. A mempool is a datastructure with all unconfirmed transactions on it
2. Mempool will grow larger, therefore, longer transaction times.
3. Fees are increased, so that peoples transactions can go through faster. (Competitive)

[MarcusM]

1. The mempool is a data structure on every node that records new transactions that are waiting to be added to the next block. It’s a waiting list. A miner will pickup transactions in the mempool and add them to a new block.

2. The mempool increases in size, the waiting list gets longer.

3. Miners will prioritise the transactions with the highest fees. They are financially incentivised, so the highest paying transactions get processed first.

[AlexxSloan]

Homework on Mempool

1. What is the mempool?

• Transaction purgatory. The mempool is where transaction requests go to get stored until chosen and processed by miners.

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

• The mempool will grow in size.

3. How does a growing mempool effect transaction fees?

• A supply and demand ratio means that miners can demand more for validating transactions if the number of requested transaction increases. In other words, the transaction fees are likely to increase.

[Elgin_Que]

1. What is the mempool?

• A mempool is the pool found in nodes where unconfirmed transactions are stored to be picked up by miners for inclusion into the blockchain.

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

• If miners cannot keep up with the rate of new transactions then the Mempool keeps growing and the number of transactions waiting to be confirmed increases until miners are able to increase the hashrate.

3. How does a growing mempool effect transaction fees?

• A growing Mempool will cause transaction fees to increase in value as more and more transactions are competing with each other to be picked up by miners to include their transaction into the next block.

[Rui]

1 - Is a list of unconfirmed transactions
2 - The mempool grows and gets bigger
3 - The fees will get higher

[Iggiepop]

1. A mempool is a list of unconfirmed transactions
2. The list will increase as more and more transactions are added to the mempool
3. The transaction fees will increase to attract the attention of the miner which will always handle transactions with the highest transaction fees first.

[LoganThaDude]

@bit

list of all transactions.

1] A mempool is a list of every transaction, & a graph of transactions fees.
Essentially a instrument for miners so they can tell who has a higher priority for getting transactions confirmed faster

2] The log starts building up, the older transactions sit and wait there turn to be confirmed.

3] All transactions fees increase insuring that the mempool confirms transactions in a timely order

[Milos_Jakubicek]

1. pool of unconfirmed transactions.
2. Fees increase
3. Bigger mempool - higher transaction fees

[Alko89]

@LoganThaDude

A mempool is a list of every transaction

Unconfirmed transactions only

[chrism2524]

1. What is the mempool?
   List of unconfirmed transactions

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

3. How does a growing mempool effect transaction fees?
   Transaction fees will increase from there being more competition for the miners to choose from and have more incentive to select the transaction with higher fees

[madingo]

1. Mempool is a data structure that each full node has - a list of unconfirmed transactions placed in a holding area for the node itself until it is picked up by a miner and put in a block.

2. If miners cannot keep with the rate of the new transactions, their mempool will grow large and they will set a threshold. Only transactions above the threshold are prioritised and put in the mempool and those below the threshold are removed from the mempool. As a result some transactions have to wait longer for confirmation.

3. A growing Mempool effect transaction fees by choosing the transactions, from the mempool, with high fees and place them on to the newly created block.

[LoganThaDude]

oh yes. overlooked that thank you Alko

[Nikki49]

1. It’s a list of unconfirmed transactions. Every node has a mempool. They can differ from node to node because of the time lag with wich the transaction is broadcasted.

2.The miners are incentiviced with the transaction fees. In Fiat money you pay a certain amount,
like 0,15% per transaction no matter how much money is involved. Miners get paid in Satsohi/byt. So they are interested to put transactions with a higher fee first in the block.
3. Fees go up.

[Serfke]

1. The mempool is a “list” in which the unconfirmed transactions are listed until they are pickup up and processed by miners. Each node on the network has a mempool.

2. The amount of unconfirmed transactions listed in the mempool will increase.

3. Transaction fees will go up, because transactions with a higher fee will be picked up first by miners.

[StanleyGM]

1. What is the mempool?
   The mempool is a record of all the transactions that have been accepted by the node but haven’t been included into a block yet.

2. What happens if the miners can’t keep up with the rate of the new transaction?
   The mempool increases in size which means that there are larger and larger numbers of uncomfirmed transactions. Fees can increase to incentivize miners to include certain transactions over others.

3. How does a growing mempool effect transaction fees?
   Fees will increase to help incentivize miners to include certain transactions over others.

[Nikola]

1. It’s a list of upcoming transactions

2. Things will slow down.

3. Transaction fees increase when there are more in the mempool competing to go on the blockchain.

[Vishnu_Divakar]

1. Mempool is the list of all transaction including unconfirmed transactions.

2. If miners can’t keep up with the growing mempool, then mempool backlog will grow and transaction fees go up. Transaction time will also increase as it takes more time for miners to confirm the transaction.

3. As mempool grows, it would be difficult for miners to add the transaction to blockchain. As miners pick transactions with highest tranaction fees, transaction fees grow up as mempool growes so that the transactions can be confirmed in a quicker rate.