Homework on Mempool - Questions

[Steve_Studies_Crypto]

1. What is the mempool?
   A datastructure comprising a list of unconfirmed transactions waiting to be added to the next block.
2. What happens if the miners can’t keep up with the rate of the new transaction?
   Those transactions are added to the mempool.
3. How does a growing mempool effect transaction fees?
   The transactions with the highest fees will take priority in being added.

[Swankypants]

1. Memory space on a node where unconfirmed tx are stored.

2. The mempool backlog will grow slowing the rate of tax being confirmed.

3. Fees will go up as people increase fee amounts to incentives miners to add their transaction to the next block.

[Anthony_Ramos]

1. Stored UTXOs in each node waiting for Miners to verify.

2. Mempools will grow increasing wait times and fees.

3. Miners will prioritze larger fees and smaller bites, therefore transaction fees will go up if the mempools grow larger

[Priorism]

1. What is the mempool?

• A mempool is a list of unconfirmed transactions that exists on the network of nodes.

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

• When this occurs, miners will send a request for a list of the nodes’ mempool.

3. How does a growing mempool effect transaction fees?

• As miners requests mempools, they will look for mempools with the highest fees, thus creating a competition between nodes. This occurs because as the miner adds transactions to its block, those transactions become confirmed and also removed from the mempool and wins the race!

[Alko89]

Miners have their own mempools and transactions propagate through the network and are put into nodes mempools. Once a miner constructs a block it will only look at his own mempool and will usually prefer txs with the largest fee.
So the competition is mostly between transactions at that point, nodes merely store these txs.

[Albay]

1. What is the mempool?
   Mempool is consist of all unconfirmed transactions from all nodes in network.
2. What happens if the miners can’t keep up with the rate of the new transaction?
   It is not applicable, they will keep up.
3. How does a growing mempool effect transaction fees?
   If the transection is complicated, then fee is higher and vice versa

[donodina]

crystal clear

[CDrake]

1. It is the list of unconfirmed transactions.

2. The mempool will grow in length.

3. It increases the transaction fees.

[Bartek]

1. Mempool is a data structure that each node has. It contains all the unconfirmed transactions.
2. The mempool is getting bigger which means the time to confirm the transaction will be longer.
3. The bigger mempool is the higher transactions fee is.

[Stubangaz]

1. What is the mempool?

The mempool is where all unconfirmed transactions that make sense to the protocol are stored until they become confirmed, then they are added to a block.

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

The mempool will increase in size, and the transactions with the highest fees per byte will be prioritised. This is often associated with scalability.

3. How does a growing mempool effect transaction fees?

A growing mempool will effect transaction fees as some of the fees will increase in order to get the transaction added to the block faster. As the miners are incentivised by money they will take the transactions with the highest fee.

[Bear_Sanity]

1. Where nodes keep track of unconfirmed transactions.

2. The mempool will grow.

3. Miners will take the blocks with the highest fees first, so the more transactions that are waiting to be confirmed, the higher your fee will have to be to get your transaction added to the blockchain at a relatively quick speed.

[nicola]

Homework on Mempool

1. What is the mempool?
   The mempool is a list that nodes have where there are unconfirmed transactions. It can be that nodes have slightly different version of the mempool because a transaction need to be broadcasted across the network and can be that yet it did not reached all nodes.

2. What happens if the miners can’t keep up with the rate of the new transaction?
   In case the miners can not keep up with the rate of new transaction the mempool will increase.

3. How does a growing mempool effect transaction fees?
   When the mempool increase it means that miners are less than the demand of transactions or that it is a congestionate period, so the transaction fees will increase because miners are incentivate to take from the mempool and put into block those transactions with the fees that has high satoshi per byte ratio.

[Hemi_Mataele]

1. A pool of TX awaiting to be processed
2. The mempool will increase aong with the time for TX to process.
3. It will increase the transaction fees as it grows.

[BlockchainStudent]

1. What is the mempool?
   Mempool is the list of all transactions that await processing and confirmation by the miners.

2. What happens if the miners can’t keep up with the rate of the new transaction?
   The backlog of the pending tx’s will build up until the miners get around to them.

3. How does a growing mempool effect transaction fees?
   The bigger the mempool i.e., backlog the higher the transaction fees will become. It’s similar to block space and gas fees in that respect. The busier the network the higher the fees.

[NiLa]

• What is the mempool?

A place where unconfirmed transactions stay till they are picked up by a miner to be edited and confirmed/denied and finally to pe put on a block and shared with the newtork

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

The transactions stay in the Mempool till they are picked and edited

• How does a growing mempool effect transaction fees?

Bigger fees are needed to get in front of the transaction queue

[roka47]

1.All unconfirmed transactions inside a node.
2. The mempool grows is size.
3. Transaction fees go up.

[BitBaron]

1. Mempool is a database of all unconfirmed transactions. Here a miner can pick them up and put them in a block to add to the blockchain.

2. The mempool grows in size and it takes longer for your transaction to be put in the blockchain.

3. Transaction fee’s rise. Miners will first process transactions from which they receive the most fee.

[elconocrypto]

1. List of all unconfirmed transaction located on the nodes memory.

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

3. Growing Mempool increases the transaction fees which will increase competition among miners.

[RGehl]

What is the mempool?
List of unconfirmed transactions

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

How does a growing mempool effect transaction fees?
You will pay more to get your transaction processed. Miners will mine transactions with more fees as priority.

[ArthurG]

1. thats where unconfirmed TXs waiting for miner to confirm
   2: it will grow, transaction will be delayed.
   3: fees should increase