Homework on Mempool - Questions

  1. a Mempool, is a standby place for al Txs before a miner confirms it into the blockchain, each node and even miners have mempool, which is a standby place for all txs to then be picked by a miner to have it “confirmed”

  2. If a miner cant keep with the rate of the new transaction, they start picking which tx has the higher fee and select it for higher profits.

  3. the bigger the mempool, the longer the tx will take to execute , as miner will be busy picking the transaction that has the best tx fee return.

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  1. What is the mempool?
  • List of transactions that are waiting to be approved by miner
  1. What happens if the miners can’t keep up with the rate of the new transaction?
  • Mempool grows together with transaction time
  1. How does a growing mempool effect transaction fees?
  • Miners prioritize transactions with higher transaction fees, if you want your transaction to be pushed ,you must offer higher Fee
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  1. What is the mempool?
    A pool where unconfirmed transactions are stored before a miner picks them up.
  2. What happens if the miners can’t keep up with the rate of the new transaction?
    The mempool will grow larger along with transaction times.
  3. How does a growing mempool effect transaction fees?
    Transaction fees will go up & transactions with a higher fee will be selected first by miners.
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  1. unconfirmed transactions are waiting in the mempool
  2. mempool grows, transactions takes longer to verify
  3. tx fees will increase
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mampool is basically data structure with node containing un confirmed transction

  1. The Mempool is where pending transactions are stored.
  2. Mempool grows, low fee transactions take longer and fees potentially increase
  3. The higher the chosen fee, the likelier your transaction comes into a Block quickly.
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  1. What is the mempool?

The mempool is a list of unconfirmed transactions waiting to be entered into a block. Each node has a mempool and each one may vary, as not all nodes have received the same unconfirmed transactions.

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

The new transactions will continue to be added to the mempool, which will grow and increase the wait for transactions to ‘clear’ or be added to a block.

  1. How does a growing mempool effect transaction fees?

The cost of getting your transaction cleared will become more expensive, as miners will always be prioritizing the transactions with the highest fees and there will be more transactions for them to choose from in the mempool.

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  1. Mempool is a database of all not confirmed transactions that every full node stores. This is where miners take theirs info about transactions
  2. Mempool will grow in size
  3. If you want your transaction to be pushed up the priority than you want to pay higher fee cos that’s how miners determine which transaction goes firs, higher the fee = higher priority for miner
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  1. What is the mempool?
    The mempool is the place where all unconfirmed transactions go and wait for a miner to choose and confirm them, giving preference to the ones that have the largest fee. Then the confirmed transaction is added to a new block.

  2. What happens if the miners can’t keep up with the rate of the new transaction?
    The size of the mempool grows and it takes more time to confirm transactions.

  3. How does a growing mempool effect transaction fees?
    When a mempool grows in size, the transaction fees increase.

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1-list of all unconfirmed transactions and what kind of fee’s they have
2-The higher the number of unconfirmed transactions the larger is the mempool, and the time for confirmation is higher
3-The bigger the mempool the higher fee’s will be choose first

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What happened to the rest of the homework? :wink:

  1. mempool is a list of confirmed transactions by node keeping them at node while it will be taken by miners
  2. transaction is not confirmed till miners will take it to their mempool
  3. fee goes up
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Transaction is confirmed once it goes from the miners mempool into a block. :slight_smile:

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  1. the mempool houses unconfirmed transactions while they await positions in a miner’s block
  2. the mempool increases in size
  3. fees increase
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  1. Mempool is a list of verified but unconfirmed transactions stored on each node.

  2. The mempool list grows bigger, there are more unconfirmed transactions.

  3. A growing mempool will increase transaction times and increase transaction fees. Bitcoin miners will continue to process transactions with higher satoshi/Byte, and so transactions with lower s/B will wait longer to be processed, incentivizing people to increase their transaction fee if they want to be processed sooner.

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  1. The mempool refers to unconfirmed transactions among nodes.

  2. The mempool increases until the transactions are eventually put in a block.

  3. A growing mempool means that miners will prioritize transactions based on the Sat/B ratio.

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  1. The mempool is where all UTXO’s hang out in the bitcoin network until they are summoned by the private keys for transactions.

  2. If miners can’t keep up with transactions, the mempool size will grow, waiting times will grow longer, and fees will get higher/more competitive.

  3. A growing mempool increases transaction fees as there is more work to be done for the miner.

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  1. It’s where transactions from wallets are broadcasted to. They are broadcasted to other nodes and eventually confirmed by the miners including them in their block.
    2 and 3. The mempool grows larger and stacks up transactions. This creates longer transaction times on-chain. (this might also be related to the blocks being produced every 10 mins which mean they would be being produced longer because of the slower tx times and this would auto-adjust the next block by making the mining verification process (math problems) easier/quicker to solve, to allow the miners to catch up?)
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UTXOs are stored on the blockchain. Once they are used as inputs to a new tx they are signed and the tx is sent to the mempool where it waits to get confirmed. :slight_smile:

No the block time doesn’t change if there are more txs in the mempool. The difficulty only regulates based on the hash rate of the network to keep the block time at 10 min no mater how many txs are pending. :slight_smile:

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