Homework on Mempool - Questions

Blockchain and Bitcoin 101
#3010
  1. What is the mempool?
  • mempool is a list of all transaction to be picked up by miners. After a miner collects these transactions, they will be moved to a block.
  1. What happens if the miners can’t keep up with the rate of the new transaction?
  • it will increase the size of the mempool
  1. How does a growing mempool effect transaction fees?
  • transactions with a higher fee will be confirmed before low fee transactions
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#3012
  1. What is the mempool? It is the storage in which every node saves the unconfirmed TXs, whether their created inside the node itself or they’ve been received via another node’s broadcast.
  2. What happens if the miners can’t keep up with the rate of the new transaction? TX is not done until a miner includes it in a new block. In the meantime, the mempool just grows up.
  3. How does a growing mempool effect transaction fees? Cheapest TXs will probably have to wait until a miner considers them to be within the most profitable ones for a new block.
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#3013 
1. What is the mempool?
	○ All nodes get all txns
	○ Txns are unconfirmed until a miner picks it up.
	○ Until it gets picked up by a miner, it will be put into the mempool of each node that has received it
2. What happens if the miners can’t keep up with the rate of the new transaction?
	○ If miners can't keep up, mempool grows - leading to longer txn times
3. How does a growing mempool effect transaction fees?
	○ The larger your txn in bytes, the larger the fee!
	○ Simpler txns = smaller so less expensive  (lower inputs and outputs = smaller)
	○ Miners care about satoshis/byte!
	○Transactions with highest fees get taken first
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#3014

  1. What is the mempool?
    The mempool is a storage of transactions that are unconfirmed AND make sense to a particular node.

  2. What happens if the miners can’t keep up with the rate of the new transaction?
    the mempool swells and transactions can take longer and with increased fees

  3. How does a growing mempool effect transaction fees?
    A growing mempool prioritizes transactions that will wind up making it more money, or transactions that are easier (take less memory) to process and so fees will increase as the demand for these next transactions to be put on the block increased.

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#3015 
What is the mempool?

It is where the unconfirmed transactions reside within a node.

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

The mempool grows in backlogged transactions

How does a growing mempool effect transaction fees?

It will cause the transaction fees to go up higher in price

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#3016
  • What is the mempool? It’s a ‘place’ where all unconfirmed transactions are waiting for a miner to pick them up
  • What happens if the miners can’t keep up with the rate of the new transaction? the mempool will grow
  • How does a growing mempool effect transaction fees? Growing mempool will cause the transaction fees go higher
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#3017
  1. In mempool are transactions who are not jet confirmed by miners. Each NODE has a a list of unconfirmed transactions and this we call a mampoole.
  2. mempool grows
  3. Transaction fees grow. Miners take from mempool transactions with higher fees. Higher the fee, faster the transaction.
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#3018

1.a store of unconfirmed transactions

  1. Mempool grows
    3.fees go up
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#3019

  1. What is the mempool?
    List of unconfirmed transactions

  2. What happens if the miners can`t keep up with the rate of transactions?
    They will pick the transactions with the highest fees based on satoshi/b and the others have to wait

  3. How does a growing mempool effect transaction fees?
    It increases it

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#3020 
What is the mempool?

Unconfirmed transactions
What happens if the miners can’t keep up with the rate of the new transaction?
The mempool will grow creating a longer wait time for transaction completion
How does a growing mempool effect transaction fees?
Fees will increase and miners will pick and choose which transaction to get on the blockchain faster.

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#3021
  1. A mempool is a database for unconfirmed transactions.
  2. If the miners can’t keep up with the blocks for new transactions the wait time is longer.
  3. A growing mempool will make the fees go up because of the incentivized nature of mining.
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#3022
  1. The mempool is where the unconfirmed transactions are temporarily stored until they are put into the next block by miners.
  2. The mempool will get bigger and the transaction time will increase.
  3. The transaction fees will increase.
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#3023
  1. What is the mempool? Mempool is where unconfirmed transactions are stored.
  2. What happens if the miners can’t keep up with the rate of the new transaction? Mempool will grow.
  3. How does a growing mempool effect transaction fees? If the Mempool grows then transaction fees will go up.
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#3024

  1. the mempool is the collection of transactions that have not been added to the Block yet.

  2. The fees will increase due to the demand to be added to the next block.

  3. If the mempool is larger then the users will most likely have higher fees due to the market and their want to be put into the next blockchain.

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#3025

1.- The mempool is where every transactions go, waiting for be confirmed and secured into the blockchain

2.- The mempool grows

3.- If the mempool is growing, that tells you that there is a lot of high fees transaction waiting to be confirmed. So the transaction fee will increase, or your wallet will pey more fees in order to confirme faster your transaction

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#3026
  1. The mempool is different at each node but it consists of a list of unconfirmed but accepted transactions.
  2. If the miners can’t keep up with the rate of transactions then the transaction times will increase and people will probably start offering the miners higher fees.
  3. As the mempool grows, fees will increase. This is due to user activity since offering a higher fee will get your transaction prioritized over smaller fee transactions.
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#3027

  1. What is the mempool?
    A mempool is a pool of output transactions that have make sense to one node, but are awaiting confirmation from others nodes and to be locked into a blockchain by miners.

  2. What happens if the miners can’t keep up with the rate of the new transaction?
    Transaction times are increased and the mempool grows in size.

  3. How does a growing mempool effect transaction fees?
    Fees increase to incentivise miners.

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#3028
  1. The mempool is a data structure or list where unconfirmed transactions that follow protocol and make sense are kept for miners to confirm and put in a block.

2… If the miners can’t keep up with the rate of the new transactions, the mempool backlog grows and transaction time increases.

  1. A growing mempool makes transaction fess to go up.
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#3029

  1. What is the mempool? - A collection of all TXs held by Nodes awaiting verification and confirmation to be added to the next block by Mining Nodes.

  2. What happens if the miners can’t keep up with the rate of the new transaction? - If there are too many pending TXs a backlog is created causing delays

  3. How does a growing mempool effect transaction fees? - Miners will select blocks in the mempool with the highest TX fees. Low fee rate TXs will be the last to be picked up and are removed from the mempool in favour of high fee TXs. Size in bytes is also relevant in fee structure.

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#3030

Homework on Mempool - Questions

What is the mempool?

A list of all transactions.

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

Then a backlog of transactions happens in the mempool.

How does a growing mempool effect transaction fees?

It makes fees higher because miners need that as an incentive to include the transaction in the next block, since blocks have a limited amount of space.

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