Homework on Mempool - Questions

[Packraat]

1. The mempool is the list of unconfirmed transactions.

2. The mempool will increase in size which will increase the transaction fees.

3. As the mempool increases in size, the transaction fees will also increase.

[Madrid]

Homework on Mempool - Questions

1. What is the mempool?
   A place where unconfirmed transactions are held.

2. What happens if the miners can’t keep up with the rate of the new transaction?
   Mempool grows larger which leads to increased transaction fees.

3. How does a growing mempool effect transaction fee?
   A larger mempool means longer transaction times with increased fees.

[EvanL]

• What is the mempool?
  A pool of transactions waiting to be entered into a new block and confirmed by the network.

• What happens if the miners can’t keep up with the rate of the new transaction?
  Network will be very slow.

• How does a growing mempool effect transaction fees?
  Fees will increase with network demand. Transactions with higher fees will be processed sooner.

[DUUKA_SMASH]

Thanks for the the love man. Really appreciate that.

[Arnaud]

1. What is the mempool?
   Is the place where all the approved transaction goes before to be proceed and append to the blockchain by the miner

2. What happens if the miners can’t keep up with the rate of the new transaction?
   The transaction will stay in the mempool till it’s proceed

3. How does a growing mempool effect transaction fees?
   The highest transaction fee is the fastest to proceed, so growing mempool will lead to higher fee

[danny13]

1. The mempool is a list of transactions a miner takes from to add to a block.

2. The mempool grows increasing transaction times.

3. It will make fees go up.

[Sung]

1. What is the mempool?
   Mempool is a pool of unconfirmed transactions.

2. What happens if the miners can’t keep up with the rate of the new transaction?
   The mempool becomes bigger and transactions may take longer.

3. How does a growing mempool effect transaction fees?
   Transaction fees will rise.

[Ali504]

1. Mempool is the waiting area for all transaction before it gets approved from the miner.
   2.the mempool will grow and long waiting time.
   3.transection fee goes up

[Patrick_W88]

1. A collection of all unconfirmed transactions on a node.

2. Mempool grows, gets backlogged with transactions.

3. Growing Mempool causes the transaction fees to increase.

[lexi]

1.What is the mempool?

A formally accepted tx goes into the mempool, this is the sum of all tx generated. There are different mempools on different nodes, this varies by the order of incoming time.
Tx´s from those mempools are picked by the miners, they have their own mempool, as they run nodes, too. The tx with the highest fees will be picked first for creating a new block on the blockchain. The fee is calculated in Satoshi per Byte. The larger the size of the transaction in Byte the higher the fee, no matter how high the amount of btc is used in the tx.

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

The mempool will grow and it will take longer time to add tx to the next block.

3.How does a growing mempool effect transaction fees?

The fees will go up.

[Zulu1]

1. What is the mempool? The mempool is a data storage area on the nodes for transactions sent from a wallet and validate by the node. The transaction will be retrieved from the mempool by a miner, who will for a fee, build the transaction onto a block.

2. What happens if the miners can’t keep up with the rate of the new transaction? If there are too many new transactions the miners will prioritized which transaction will yield the most satoshi while using the fewest bytes. The fewer the bytes the more data can fit on the block, allowing for greater earnings per block.

3. How does a growing mempool effect transaction fees? A growing mempool will increase transaction fees, because the higher the fee the faster the transaction is removed from the mempool and added to the blockchain.

[Santana]

1. The mempool is where unconfirmed transactions are collected until a miner can validate and add them to the block.

2. The system essentially becomes congested and he process of confirming transactions is lengthened.

3. Fees go up as a result to meet the demand of expediting transactions.

[ImagineCrypto]

@Baidis

he mempool files up with pending transaction and fees can also increase.

1. What is the mempool?
   • Where unconfirmed transactions are stored. Each node has its own mempool.
2. What happens if the miners can’t keep up with the rate of the new transaction?
   • The transaction will be sent to the mempool. The mempool files up with pending transaction and fees can also increase.
3. How does a growing mempool effect transaction fees?
   • Higher fee transactions will be first to be confirmed by miners as they are incentivized to do so.

[Pineapple]

Homework on Mempool - Questions

1. What is the mempool?
   The mempool is the list of all unconfirmed transactions.

2. What happens if the miners can’t keep up with the rate of the new transaction?
   The mempool would grow and transactions would be slower.

3. How does a growing mempool effect transaction fees?
   Transaction fees would increase as miners would only add transactions with the highest fees to their blocks.

[SimonTecle]

1. Pool of unconfirmed transactions.
2. The pool grows larger and so it takes longer time to confirm the TXs by miner.
3. Because miners are incentives to create blocks they priority TX with higher fees.

[crypto_wendell]

The mempool is the list of UTXO’s from each node.

If miners can’t keep up wit the rate of new transactions, the mempool grows larger in size and transaction fees increase.

Transaction fees increase as the mempool grows larger because there is more competition about which transactions to process first. People will pay higher fees to make sure their transactions can get processed quickly.

[Alternator]

1. Mempool is a temporary list of unconfirmed transactions, ready for miners to process them.

2. Mempool increases.

3. Fees go up, because transaction that offers higher fee, is more likely to be picked by miner.

[lucas_pace]

1 - Database which contains all uncofirmed transactions
2 - Mempool grow in size.
3 - The reward of miners have to be more expensive to make it ocorrun

[cryptomomma]

1. The mempool is a data structure of unconfirmed transactions.
2. If the miners can’t keep up with the rate of new transactions, the mempool keeps growing and transactions take longer.
3. A growing mempool effects transaction fees by the miners choosing the ones with higher fees to process first and lower fees take longer to process.

[JorgeB]

1. What is the mempool?
   Every node has a mempool that contains all the unconfirmed transactions that have been broadcasted. Miners will pick transactions from the mempool to add in a block that they will add to the blockchain

2. What happens if the miners can’t keep up with the rate of the new transaction?
   The time to confirm a new transaction will be longer.

3. How does a growing mempool effect transaction fees?
   Since it takes longer to process new transcactions when the mempool grows, fees will increase because miners will pick the transactions with the highest fees first. So if you set a higher fee your transactions will be processed faster.