Homework on Mempool - Questions

Blockchain and Bitcoin 101
#2489

A mempool is a data space on nodes where unconfirmed transactions are stored.

If there are too many transactions they will have to wait for future blocks to be implemented.

The more data in queue the higher the fees.

1 Like
#2490
  1. Mempool is datastructure of unfonfirmed transactions wich create every node.
  2. It makes block largers and transaction times is longer for blocks.
  3. Miners are financialy motivated to choose transactions with higher fees. So the growing memppols have more fees for miners.
1 Like
#2491

1. What is the mempool?
Data structure in a node with unconfirmed transactions.

2. What happens if the miners can’t keep up with the rate of the new transaction?
The mempool would have more and more unconfirmed transactions and it would take more time for them to be further executed.

3. How does a growing mempool effect transaction fees?
Since miners choose transactions with highest fees and there are a lot of transactions, fees would be inflated to keep up the priority competition.

1 Like
#2492

  1. A data space listing all uncofirmed transactions.

  2. Then the transaction will sit unconfirmed in the mempool. The miners will confirm the transactions with the higher fee, if a low fee the transaction could stay in the mempool.

  3. Growing mempool will see transaction fees increase in order to prioritise transactions and incentivize the miners to confirm transations.

1 Like
#2493
  1. The mempool is a data structure in a node that holds unconfirmed transactions
  2. The mempool will hold the unconfirmed transactions until a miner becomes available to put it in the blockchain and confirm it.
  3. Miners prioritize transactions with the highest fees, a growing mempool can create higher transaction fees.
1 Like
#2494

1.) What is a mempool?

 A mempool is also known as an unconfirmed transaction pool or waiting room.

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

 When new transactions arrive at a higher rate, they are cleared from the mempool and     
 moved into confirmed blocks.  While doing this, the miners create a traffic jam.

3.) How does a growing mempool affect transaction fees?

 The transaction fees go up.
1 Like
#2495

The mempool is a list of all unconfirmed transactions that make sense to a particular node. the mempool is the data structure each node has.
2.The mempool grows in size.

3.a growing mempool will cause increased transaction fees.

1 Like
#2496

*1-The mempool is where unconfirmed transactions wait for a miner to add to the next block.
*2-There would be larger transactions times and the mempool will carry on growing.
*3- Fees would increase with a growing mempool, people will always be willing to pay a higher fee for the miners in order for their transactions to be processed first.

1 Like
#2497

1.What is the mempool?
The mempool is the space where our unconfirmed transactions are being stocked, the node will store the transaction in the mempool and the miners will confirm or not the transaction. So it is basicly the ‘‘waiting’’ area to confirm the transaction.

2.What happens if the miners can’t keep up with the rate of the new transaction?
The mempool will then grow and have more to proceed, that means the transactions might take longer and the fees would be higher.

3.How does a growing mempool effect transaction fees?
There will be a longer time to wait before the transactions are confirmed and the fees would be higher.

1 Like
#2498
  1. A Mempool is where the nodes after validating a transaction keep the inputs until they can be added to the blockchain.
  2. The Mempool will set a minimum fee, and priorities the transactions in largest fee first, after about 48hours if your transaction has not gone through it will be sent back to input address.
    3.The Mempool will set a minimum fee as it begins to fill up, and priorities the transactions in largest fee first.
1 Like
#2499

Answer#1. The mempool is a list of all unconfirmed transactions that haven’t been placed onto the blockchain.

Answer#2: The size of the mempool increases.

Answer#3: A growing mempool will elevate the competition among miners for the higher based fee transactions, and therefore driving fees higher.

1 Like
#2500
  1. a chart of unconfirmed transactions, each node has a mempool that is updated as transactions are confirmed by miners.
  2. if a miner can’t keep up, another miner will confirm the transaction and put it into the blockchain.
  3. transaction fees are based on bytes size, so transactions with multiple inputs and outputs take up more space in the mempool and the blockchain are have higher fees.
1 Like
#2501
  1. Mempool is a pool of unconfirmed transactions
  2. If miners are un able to keep up with rate of transactions, pool grows larger in size
  3. Fees go up
1 Like
#2502

1.The Mempool is the pool of transactions that is stored in memory in all Bitcoin nodes until they are submitted to the blockchain.

  1. If the miners can not keep up with rate of transactions they are stored in the Mempool untill the network has time to process them. This is called congestion. Its just like trafic. If to many people drive home from work at the same time the roads become congested, but in time the streets will clear.

  2. If to many people want to transact at the same time there will be a race to be submitted first. If you pay a higher fee the miners will take you first. This is why the fees get higher at certain times.

1 Like
#2503

  1. The mempool are unconfirmed transactions , a data structure that nodes have of unconfirmed transactions.

  2. The transactions go into the mempool.

  3. The fees go up.

2 Likes
#2504

Much shorter then mine. More economic way of saying the same thing :slight_smile:

#2505

Homework on Mempool - Questions
Q1: What is the mempool?
A1: The mempool is the list of unconfirmed transactions saved on all nodes on the network.

Q2: What happens if the miners can’t keep up with the rate of new transactions?
A2: They unconfirmed tx are added to the mempool and New blocks are produced within 10-minute intervals and have a size limit on the blocks.

Q3: How does a growing mempool affect transaction fees?
A3: Miners are able to pick the most lucrative mempools for transaction fees. All items will be added eventually.

1 Like
#2506
  1. A part of a node that holds unconfirmed transactions.
  2. The mempool will get bigger and the transactions will take longer to get onto a block.
  3. The transaction fees would go up to be moved more quickly to a block as larger fees attract the miners to chose those transactions with higher fees.
1 Like
#2507

The mempool is a list of unconfirmed but reasonable transactions waiting to get mined. Every node has its own copy of the mempool.

In general, miners will pick the transactions that pay most sats / byte in order to make money. Thus transactions with low fees will have to wait longer to get mined if there are to many transactions in the mempool.

Transaction fees will rise in competition to get included in the next block.

1 Like
#2508
  1. A mempool is a pool of uncornfirmed transaction which node collect
  2. Many pending transaction and much time needed
  3. The transaction with larger fee goo first
2 Likes