Homework on Mempool - Questions

Blockchain and Bitcoin 101
#2570

Merci beaucoup pour la réponse et comprendre qu’après avoir terminé le cours sur le mineur, j’ai compris le rôle du mineur: sourire:

#2571
  1. What is the mempool?

A place that stores all unconfirmed transactions that haven’t been placed into a block by a miner yet.

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

They will stay in the mempool so the mempool will grow in size and the time it takes for transactions to confirm will increase. Miners will prioritise transactions with the highest fees so when there are a lot of unconfirmed transactions in the mempool, fees will increase.

  1. How does a growing mempool affect transaction fees?

As the mempool grows in size so will the transaction fees as each transaction is competing to be put into the block next and miners prioritise the transaction that makes them the most money (the ones with the highest transaction fees).

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#2572
  • What is the mempool?
    Mempool is a datastructure that contains a list of UTXOs
  • What happens if the miners can’t keep up with the rate of the new transaction?
    If the miners cant keep up with the rate of tx, mempool grows larger, and tx fees become bigger
  • How does a growing mempool effect transaction fees?
    Growing mempool increases the transactions fees
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#2573 
1. What is the mempool?
   Wallet creates transaction from UTXO’s & then sends it out to the nodes on the network but until a miner picks up that transaction it is unconfirmed as stays in the mempool.
   The mempool is the list of unconfirmed transactions held by each node.
   The mempool for each node is different.
   The miner will either get unconfirmed transactions from their own mempool or the mempools of other nodes to create the next block. The miner will choose transactions from the mempools that have the highest fees allocated to the transaction.
2. What happens if the miners can’t keep up with the rate of the new transaction?
   Transactions with low fees can remain unconfirmed for days.
3. How does a growing mempool effect transaction fees?
   This would mean that average transaction fees of transactions that get confirmed will increase because there will be high demand & the miners are incentivised to choose the transactions that have the highest fees.
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#2574

1.What is the mempool?
Place where unconfirmed transactions are kept

  1. What happens if the miners can’t keep up with the rate of the new transaction?
    The mempool grows larger and larger

  2. How does a growing mempool effect transaction fees?
    The higher fee you set the faster your transaction will be processed

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#2575

[quote=“ivan, post:1, topic:8438”]

  • What is the mempool?
    An area where utxo are stored prior to transaction
  • What happens if the miners can’t keep up with the rate of the new transaction? Mempool grows
  • How does a growing mempool effect transaction fees
    Increases fees
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#2576
  1. Mempool is a buffer local to all nodes including miners where they do keep the legit but unconfirmed transactions to make these part of the block
  2. They will keep picking the transactions which will pay the highest fees and the mempool would keep growing.
  3. It will push the transaction fees higher as more nodes are competing to get their transactions accepted, they would naturally force to provide more fees in order to get processed quicker. The wallets suggest a fees according to mempool and current scenario when a node is placing a transaction.
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#2577

  1. The mempool is the pool of transactions waiting to be added to the block.

  2. The mempool backlogs and will prioritize transactions with a higher fees.

  3. The transactions fees will increases.

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#2578
  1. mempool agregates data from blockchain about how many uncomfirmed transactions we have in the moment of time
  2. they are in wating mode (the confirmation time is increasing)
  3. price for the fastest transaction is going higher
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#2579

Homework: Mempool (Answers)

  1. List of all unconfirmed transactions that miners use to make new blocks.
  2. Transactions dont got thru.
  3. Increase in fees.
1 Like
#2580
  1. A mempool is a data structure containing all the unconfirmed transactions present on an individual node. As new transactions are propagated through the network each node will append it to their mempool and wait for the transaction to be confirmed before removing it. A transaction is said to be confirmed when a miner includes it into the next block.
  2. The mempool grows in size when miners can’t keep up with the rate of new transactions. This results in higher transactions fees for new transactions and longer confirmation times for unconfirmed transactions.
  3. It is safe to assume that transaction fees will rise with the increase in mempool size, as miners are incentivized to confirm transactions with the highest fees included. On average, users of the network will increase their fee to have their transactions confirmed in a reasonable amount of time.
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#2581

  1. A mempool is where the nodes in the network store their UTXO while waiting for the miner to add them to the next block.

  2. They are incentivize by fees so they prioritise transaction that have higher fees.

3)The higher the satoshi/bite the higher the fees. In other words the higher the inputs to outputs the higher the fees.

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#2582

1. What is the mempool?
A list of transactions that have not been selected to be incorporated into a future block in the blockchain.
2. What happens if the miners can’t keep up with the rate of the new transaction?
The mempool will grow and transactions will be in queue longer.
3. How does a growing mempool effect transaction fees?
Higher transaction fees may result as transactions will fight to be in front of the line to be incorporated in a future block.

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#2583

Mempool is a place where all UTXO’s are listed and waiting for a miner to handle the TX and add it to the next block.

The mempool is getting larger wich is a logical. TX will take longer to complete.

The more TX in the mempool the more competetion so people that want their TX to be done ASAP will most likely give higher fee’s

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#2584

The mempool is a place where all ‘unconfirmed Transactions’ are listed.

An utxo is just an unspent batch of bitcoins. Transactions contain more than utxo’s alone. In a transaction you reallocate utxo’s to other addresses and each utxo needs to be signed etcetera.

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#2585

Ah yes ! clear!
Thanks for the quick respons !
Appreciate that !

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#2586

What is the mempool?
-The mempool is a part of a node where all unconfirmed tx are stored. Every node have mempool of tx waiting to be confirmed from a miner to be added to a new block.

What happens if the miners can’t keep up with the rate of the new transaction?
-The transaction will take longer to be confirmed as the mempool increase in size.

How does a growing mempool effect transaction fees?
-The fee for transaction will be higher with the growing of the mempool cause the miners are incentivated to pick the tx with higher satoshi per byte.

1 Like
#2587

Homework on Mempool - Answers

  1. What is the mempool?
    Answer: The mempool is where all unconfirmed transactions are stored.

  2. What happens if the miners can’t keep up with the rate of the new transaction?
    Answer: The size of the mempool increases.

  3. How does a growing mempool effect transaction fees?
    Answer: Miners select the transactions from the mempool which have the highest fees. So if the mempool is large then users will have to pay a higher fee to get their transactions selected for mining.

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#2588

  1. What is the mempool?
    Is a ‘list’ with all the unconfirmed transaction.

  2. What happens if the miners can’t keep up with the rate of the new transaction?
    The mempool will grow in size and the fees grow with it.

  3. How does a growing mempool effect transaction fees?
    When it is harder to solve the transaction the fees will be increased. Not depending on the amount that is send but depending on the outputs.

#2589
  1. The mempool is where your transaction goes before it is picked up by a miner.
  2. The mempool grows and transactions take longer to confirm.
  3. The larger the mempool the higher the transaction fees as miners compete for the juiciest payment for adding the transactions to their block.
1 Like