Homework on Mempool - Questions

Blockchain and Bitcoin 101
#2890

1.What is the mempool?
List of all unconfirmed transactions that still waiting to be chosen by the miner
2 What happens if the miners can’t keep up with the rate of the new transaction?
the mempool will grow larger and miners will take more time to chose your transaction and add it to the block chain
3.How does a growing mempool effect transaction fees?
Larger fee and bigger sat/b

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#2891
  1. What is the mempool?

A place were unconfirmed transaction go before miner confirms them.

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

Mempool gets backed up with transaction.

  1. How does a growing mempool effect transaction fees?

Transactions fees will rise.

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#2892
  1. A mempool is a space where unconfirmed transaction goes after a node receives it.
  2. A miner will drop transactions that have a low enough transaction fee.
  3. The more crowded the mempool, the higher the transaction fee – basically a competition
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#2893

  1. The mempool is the list of all unconfirmed transactions store in the miners node.

  2. the size of the mempool will keep increasing.

  3. Base on the prove of work concept, the miners usually picked up transactions of higher fees to process and add them to the next block.
    Transaction fees also increase as the mempool gets higher in size.

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#2894
  1. The mempool is the list of all uncomfirmed transactions.
    2.Many transactions will stay uncomfirmed and the fee with increase.
    3.If the block is full the transactions with high fees will be comfirmed first.
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#2895
  1. The Mempool is a list of an uconfirmed transactions waiting to be added into to the BTC blockchain.
  2. The unconfirmed transactions will be pilling up in the Mempool waiting to be processed.
  3. The minors selects transactions with the highest fees per bite first => In order to get a transaction through => the fees will have to increase.
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#2896
  1. What is the mempool?

A mempool stores all the transactions not picked up from a miner yet.

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

the mempool will grow bigger

  1. How does a growing mempool effect transaction fees?

the transaction fees will be higher.

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#2897
  1. What is the mempool?
    a list of unconfirmed transactions on the blockchain.
  2. What happens if the miners can’t keep up with the rate of the new transaction?
    Larger transaction times.
  3. How does a growing mempool effect transaction fees?
    Fees increase.
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#2898

1: A mempool is a list of unconfirmed transactions waiting for a miner to pick them up and add them to the next block in the blockchain.
2:If a miner cannot pick them up they end up having longer times to be completed as a transaction.
3:A growing mempool results in higher transaction fees charged.

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#2899
  1. The mempool is the list of transactions before the are confirmed.
  2. The mempool becomes backed up. Transactions take longer.
  3. Transaction fees rise with the growing mempool.
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#2900

1.) The mempool is a data structure that holds unconfirmed transactions that are waiting to be picked up by the miner.

2.) The Mempool will increase in size

3.) A growing mempool will increase transaction fees. The miner may choose to confirm the transactions with the larger fee first.

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#2901

  1. the mempool contains all unconfirmed transactions (tx) that do not violate any rules. nodes and miners both hold copies.

  2. the mempool grows and confirmation times increase

  3. the fee increases, incentivising more entities to become miners. Miners pick the TX with the most fees.

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#2902
  1. A data structure of unconfirmed transactions that each node has.
  2. The mempool grows.
  3. Higher fees need to be offered to attract the miners to add your transaction to the next block.
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#2903
  • What is the mempool?

It is a database with all unconfirmed transactions.

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

if miners cannot keep with the rate, mempool is growing bigger.

  • How does a growing mempool effect transaction fees?

Growing mempool has an effect on rates in such a way that transactions fees are going to be higher and higher. It increases competition among transactions so you will probably need to pay more if you want your transaction be confirmed and added to a new block.

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#2904
  1. data within nodes of unconfirmed transactions
  2. the pool grows and transactions will take longer
  3. the fees will increase. Miners will select the transactions with higher fees to be processes first.
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#2905
  1. The mempool stores all the unconfirmed transactions needed to be picked by a miner.
  2. The mempool grows and the transaction times are longer.
  3. The fees become higher because of the competition to get the transaction to the next block. The higher fees get taken first.
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#2906

  1. What is the mempool?
    mempool consists of pending transactions.
    After a wallet has constructed a transaction it sends it to a node which adds it to its mempool and to other nodes in the network. The nodes pick fitting (1 MB per block) and the most profitable (most satoshi/byte) and add it to a block.

  2. What happens if the miners cannot keep up with the rate of the new transaction?
    The mempool becomes bigger and bigger and the transaction fees rise.

  3. How does a growing mempool effect transaction fees?
    It’s all supply and demand. If the mempool grows a lot (because of sudden price changes for example) there are more transactions but the same tiny 1 MB blocks to process them. The miners mostly pick transactions with high fees so one has to pay more fees so that his transaction gets committed.

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#2907
  1. What is the mempool?

List of unconfirmed transactions that miners look at to build the next block.

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

Then they aren’t confirmed, have to wait for next block, mempool grows

  1. How does a growing mempool effect transaction fees?

It increases demand for miner validation, so growing mempool = higher fees

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#2908
  1. Where unconfirmed transactions are picked by miners to be added to a block.
  2. It will fill up\grow.
  3. due to a growing mempool the transaction fees become higher to entise miners to choose them first for the next block.
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#2909
  1. What is the mempool? The mempool is a bunch of people at the airport awaiting a taxi driver. People that havent been picked up.
  2. What happens if the miners can’t keep up with the rate of the new transaction? There is a giant line that forms. You may wait 24 hours until congestions cools off to get your tx picked up by a miner.
  3. How does a growing mempool effect transaction fees? Person with the highest “tip” gets to ride in the Uber first. Huge line of potential passengers makes a miner/driver more valuable meaning a higher tip/fee/tx cost.
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