Homework on Mempool - Questions

Blockchain and Bitcoin 101
#2670
  1. What is the mempool?
    the mempool is the list of all the unconfirmed transactions that have yet to be put on a miners block.
  2. What happens if the miners can’t keep up with the rate of the new transaction?
    the mempool will increase in size.
  3. How does a growing mempool effect transaction fees?
    transaction fees will start to go up so that the transactions have a better chance of being added to a miner’s block.
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#2671

Homework on Mempool - Answers

  1. What is the mempool?
    • An evolving list of unconfirmed transactions waiting to be verified (confirmed) by the miners

  2. What happens if the miners can’t keep up with the rate of the new transactions?
    • Mempool list of unconfirmed transactions grows, thus increasing wait times for transactions to be written onto a block

  3. How does a growing mempool effect transaction fees?
    • Fees increase as there is greater competition to get a transaction confirmed by a miner and written onto the next block. Higher fees help facilitate selection of transactions by the miners

blockchain.Ronin

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#2672

  1. The mempool is a list of unconfirmed transactions which have been yet to be picked up by miners.

  2. If miners cant keep up with the rate of new transactions, the mempool grows in size.

  3. A growing mempool will increase transaction fees.

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#2673

  1. The mempool is the data structure where the unconfirmed transactions which make sense to a particular node.

  2. If miners can’t keep up with the rate of new transactions, the mempool size will grow with the addition of unconfirmed transactions.

  3. A growing mempool will effect transaction fees (sat per byte) in an increasing fashion because block size is limited, and miners accept the transactions with the largest fees.

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#2674
  1. What is the mempool?
    a list of unconfirmed transactions
  2. What happens if the miners can’t keep up with the rate of the new transaction?
    the pool grows and it will take longer for transaction to be confirmed
  3. How does a growing mempool effect transaction fees?
    the transaction fees will go up because there is only limited space on each block
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#2675
  1. What is the mempool?
  • The mempool is where unconfirmed transactions that make sense go. Every node has a copy of the mempool. The mempool of one node can look different from another node’s mempool, but this is because the broadcast that a transaction should be added has reached one node and not the other, and in the end the mempool of all nodes will look the same.
  1. What happens if the miners can’t keep up with the rate of the new transaction?
  • The mempool of the nodes in the network will continually keep on growing until the miners clears it out.
  1. How does a growing mempool affect transaction fees?
  • If a mempool is continuously growing the fee rates will naturally go up. This is because a miner doesn’t work for free, the miners will take the transactions with the highest fees and put them in the block. So, if I want my transaction to go through faster, I must naturally make my fee higher.
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#2676
  1. The Mempool is a data structure used to receive unconfirmed transactions.
  2. If the miner cannot keep up with the rate of the new transaction, it remains in the mempool while the miner looks for another transaction that takes up less space in the block.
  3. The larger the transaction the larger the fee.
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#2677

1, The mempool is a list of all unconfirmed transactions.

2, They select the transactions with the highest fees first. Transactions that dont make it into the block, will be considered for the next, and so on. Confirmation time increases for transactions with lower fees included.

3, As the mempool size increases, the fees increase as there is more competition to be included in the next block.

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#2678
  1. Mempool contains all unconfirmed tx, which are waiting to be picked by miners and added to the block.
  2. Mempool will grow larger and tx will take longer tame to be confirmed
  3. If mempool grows, tx fees also will grow.
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#2679

  1. The Mempool is a holding area on the node where each unconfirmed TX sits until it can be confirmed.

  2. The cost each transaction will go up if the miners cant keep up with the rate of new transactions.

  3. The fees start to increase because only the highest paying SATS/Byte TX will be considered by the miners.

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#2680

[quote=“ivan, post:1, topic:8438, full:true”]
Homework on Mempool - Questions

  1. What is the mempool?
    mempool is where transactions go before they’re processed or holding to be confirmed by a miner node
  2. What happens if the miners can’t keep up with the rate of the new transaction? The mempool grows and transaction fees increase as a result
  3. How does a growing mempool effect transaction fees? it incentivizes people to pay higher fees to get processed sooner, since miners are paid by fees they will typically go for the higher fees first
1 Like
#2681

Homework on Mempool - Questions

  1. What is the mempool?
    The Mempool is where valid transactions wait to be confirmed into a block by the network

  2. What happens if the miners can’t keep up with the rate of the new transaction?
    First, there is a longer wait time and also, transaction fees can go up as well.

  3. How does a growing mempool effect transaction fees?
    Transaction fees will go up. Miners are looking for the transactions with the most Satoshis/Byte that they can get.

1 Like
#2682

Homework on Mempool

  • What is a Mempool?
    • It is where Nodes store the information that must still be confirmed and updated on the blockchain.
  • What happens if the miners cannot keep up with the rate of new transactions?
    • The mempool will grow and the usual time it took for transactions to be confirmed and uploaded to the blockchain will increase.
  • How does a growing Mempool effect transaction fees?
    • People might increase the transaction fees to make it more profitable for a miner to choose the Mempool containing their transaction, to ensure their transaction is confirmed and updated before other people’s transactions who have lower fees specified in their transaction.
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#2683

1.- The mempool is the database where every unconfirmed transaction is put in by the nodes when they decided that the tx is valid. Then the miner takes out the transaction with the highest fee out of the mempool and puts it into a block on the blockchain.

2.-Then the mempool gets larger and larger and transactions take longer.

3.- Transaction fees get more expensive because miners always take the highest fees first

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#2684

  1. A data structure which is contained in every nodes. It consists of all unconfirmed transactions and making sense in a node.

  2. The mempool will keep on increasing.

  3. Since miner will choose a transaction in a mempool with the highest fee, the transaction fee will be higher for quick confirmation.

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#2685

  1. What is the mempool?
    It’s like a holding cell for unconfirmed transactions. quarantine

  2. What happens if the miners can’t keep up with the rate of the new transaction?
    The qualified unconfirmed transactions go the the mempool

  3. How does a growing mempool effect transaction fees?
    Competition created due to increased volume may drive transaction fees higher

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#2686
  1. What is the mempool?
    Nodes holding area for all the pending transactions.

2)What happens if the miners can’t keep up with the rate of the new transaction?
Mempool will fill up with unconfirmed transaction until miners can verify it.

3)How does a growing mempool effect transaction fees?
As the mempool grows, the fee will increase.

1 Like
#2687

  • What is the mempool?
    The mempool is essentially limbo for unconfirmed transactions.

  • What happens if the miners can’t keep up with the rate of the new transaction?
    If Miners cannot keep up with the rate, the mempools just increase in size. The size would vary every ten minutes due a new blockchain being created.

  • How does a growing mempool effect transaction fees?
    Transaction fees would grow with the size of the mempool, it is its own competitive market, the higher the fee the faster a transaction is selected by a miner and then confirmed by the blockchain.

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#2688

  1. What is the mempool?
    A mempool is a storage of all unconfirmed transactions.

  2. What happens if the miners can’t keep up with the rate of the new transaction?
    The mempool will in crease in size as miners would only create a block every 10-minutes and with specific size capacity in bytes.

  3. How does a growing mempool effect transaction fees?
    Since the miners couldn’t catch up to all the mempool, the miners would prioritize those mempool with a higher total fees. Thus, transactions with lesser fees would get stuck waiting for a miner to confirm. When users see this, they would most likely increase the transaction fee so that their transaction can be one of those that would be confirmed and completed.

1 Like
#2689

  1. All unconfirmed transactions on the blockchain go into whats called a mempool until such time they are confirmed by a miner

  2. Transactions will be stored in the mempool until they (miners) catch up

  3. Miners will choose the transaction with the highest fee to confirm first thus making transactions with low fees wait very long for confirmation

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