Homework on Mempool - Questions

Blockchain and Bitcoin 101
#2650

Homework on Mempool - Questions

  1. What is the mempool?
    store UTXOs

  2. What happens if the miners can’t keep up with the rate of the new transaction?
    UTXOs from the Mempools with the high test fees are expedited first, others with wait, and the Mempool size will also increase, along with TX fees.

  3. How does a growing mempool effect transaction fees?
    Price increase in TX fees.

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#2651

1 - The mempool is where nodes store all unconfirmed transactions before miners receive them.

2 - The mempool grows, resulting in longer transaction times.

3 - Because a growing mempool will result in longer transaction times, and transactions with higher fees will be processed by miners first, transaction fees will get more expensive.

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#2652
  1. It is the batch of txs initiated by wallets but not yet appended to the blockchain by miners.
  2. Idk. I guess the mempool grows enormously, or mining fees go up like crazy to attract more miners
  3. It would encourage tx initiators to increase the size of the fee they are willing to pay in order to get their tx processed in a timely manner
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#2653

1 unconfirmed transactions
2 size of mempool incrses until it gets added to the block
3 have to increase so your unconfirmed transaction can be added to the block and confirmed

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#2654
  1. The mempool is a collection of transactions waiting to be added to the blockchain.
  2. If the miners cannot keep up with the rate of new transactions the mempool grows and there is a longer wait time for transactions to be confirmed by the network.
  3. The mempool wants to confirm tx’s with the highest fees b/c miners want to make money. tx’s with lower fees are likely to be confirmed more slowly compared to tx’s with higher fees. A growing memepool results in higher fees.
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#2655
  1. mempool is the list of unconfirmed transactions
  2. Mempool will increase in size until all transactions are put into a blocks.
  3. Increasing of mempool size can cause increasing in TXs feel because people want their transactions go faster and they are ready to pay more to miners.
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#2656
  1. The mempool is a data structure that each node has and consist of all unconfirmed transactions.
  2. The mempool would grow bigger.
    3.The transaction fees would increase.
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#2657
  1. What is the mempool?
    A mempool is where unconfirmed transactions are stored by nodes. Miners will then confirm transactions from the mempool.
  2. What happens if the miners can’t keep up with the rate of the new transaction?
    Build up of unconfirmed transactions in the mempool.
  3. How does a growing mempool effect transaction fees?
    Transaction fees spikes, Miners selects highest fees first and this will also push the fees up.
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#2658

1: list of transactions waiting for miners to out them on the block

2: thr mempool gets bigger , waiting times and fees increase

3:transactions fees go up.

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#2659
  1. A list of unconfirmed transactions.
  2. The transaction stays in the mempool of the nodes until it is confirmed by the miner.
    3.A growing mempool does not affect the price because the fee is calculated as satoshis per bit, not by the number of unconfirmed transactions in the mempool.
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#2660
  1. A mempool contains all transactions for a new block and it’s the last step before a miner puts the transactions on the blockchain
  2. The mempool becomes bigger
  3. Fees will rise
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#2661
  • 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.The mempool is a list of unconfirmed transactions sent/broadcasted by wallets that have not been yet confirmed. Mempools of different nodes might not be identical in a given moment of time, but it will eventually as all transactions broadcasted by all wallets will arrive, sooner or later.
2. When miners can’t keep up with the amount of transactions emitted by wallets, mempools grow and get bigger and bigger. With this, transaction confirmations take way more time to arrive.
3. A growing mempool tells indicates the users it will take more time than usual to a transaction to get confirmed. To avoid this extra time situation, users can decide to put a higher fee for their transactions so it is confirmed sooner than other with lower fee. Because of this the effect on transaction fees is that they get higher and higher.

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#2662

  1. Mempool is a list of unconfirmed transactions.

  2. The mempool backlogs and grows larger and therefore there are larger transaction times.

  3. As mempool gets larger the confirmation process takes longer. miners always go for the higher transaction fees first so the transaction fee will increase.

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#2663
  1. Mempool is a list every node has where unconfirmed transactions are awaiting for miners to be included to the blockchain.
  2. Mempool grows.
  3. Fees grow.
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#2664

  1. The mempool, is a data structure containing unconfirmed transactions along with their fees.

  2. The mempool backlog builds up, making transaction times a lot more lengthier than usual.

  3. Transaction fees become larger, miners are then incentivised to confirm more transactions.

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#2665
  1. The mempool is a data structure that each node has, which is comprised of unconfirmed transactions. Miner’s create the new blocks to be added to the blockchain from the mempool.
  2. If miners are unable to keep up with the rate of new transactions, the mempool gets bigger, transaction times increase and network participants are incentivized to increase their fees. Additionally, new miners are likely to join the network in order to compete for fees and add hash power to the network.
  3. A growing mempool will increase transaction fees as those with more urgent/important transactions will raise their fee in order to be chosen sooner by the miners.
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#2666

Larger fees will not make miners to mine any more transactions. The block time and size is fixed and only so many transactions can be processed in a given time. Fees increase because of this because people will want to have their tx to be handled with priority. :slight_smile:

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#2667
  1. mempool is the unconfirmed transactions
  2. The mempool grows larger and there will be longer times for transactions to be confirmed
  3. As the mempool grows larger transaction fee increase
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#2668
  1. The mempool is a catalogue of unconfirmed TXs that have not yet been added to the blockchain.
  2. TXs become easier to confirm/mine and add to the blockchain. mempool grows.
  3. The effect will be higher transaction fees as more and more users are competing to get there TX in the next block thus raising TX fees to incentivise miners.
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#2669

  1. The Bitcoin Mempool is a area where nodes store unconfirmed transactions that have been broadcasted to the network and are waiting for confirmation.

  2. This will typically mean that transactions with lower fees will likely take longer to get confirmed.

  3. The larger the mempool the more likely transaction fees will go up as users are essentially bidding to get into the next block .

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