Homework on Mempool - Questions

Blockchain and Bitcoin 101
#3071

  1. What is the mempool?
    Is a waiting list of transactions to be confirmed that every node has

  2. What happens if the miners can’t keep up with the rate of the new transaction?
    The confirmation transaction time get higher therefore, the speed of consensus of every transaction is longer

  3. How does a growing mempool effect transaction fees?
    it increases the transaction fees, miners will alway confirm the transactions with the highest fees first, therefore transaction with lower fees that push back in the line, and the transactions fees go also higher

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#3072

1.Unconfirmed transactions.
2.Number of unconfirmed transactions.
3.its increases transactions fee.

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#3073

  1. What is the mempool?
    The mempool is a list of unconfirmed transactions held by nodes on the network.

  2. What happens if the miners can’t keep up with the rate of the new transaction?
    Miners will prioritise transactions with the higher transaction fees so the rest of the transactions will take longer to process.

  3. How does a growing mempool effect transaction fees?
    If the mempool grows, the transaction fees will increase.

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#3074
  1. The mempool is a data structure whereby each unconfirmed transaction is stored (before a miner will add it to the next block)
  2. The mempool will increase in size resulting in longer transactions times- consequently transaction fees can increase
  3. Increases them due to competition. Larger fees are offered to prioritise a transaction
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#3075

  1. What is the mempool?
    Mempool is the list of pending transactions. Every node has a mempool.

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

  3. How does a growing mempool effect transaction fees?
    The fees will be higher as miners will prioritize the tx with a higher fees.

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#3076
  1. The mempool is a storage of all unconfirmed transactions.
  2. If miners can’t keep up with the rate of the new transaction, the mempool will grow.
  3. A growing mempool increases fees, increasing incentive for miners to confirm transactions so that whoever pays more will likely have their transaction go through.
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#3077

A mempool is basically a queue of all the unconfirmed transactions waiting to be confirmed by the next block-creating miner. Each transaction is broadcasted to the whole network and each miner and node has their own mempool, so they might be slightly different, but they should all hold mostly the same transactions.

Miners choose which transactions to add to a block according to the fees they pay. If miners can’t keep up mining blocks at the same speed as they receive transactions, the mempool grows larger, therefore transaction fees also increase as there is more competition to get a transaction accepted into the next block.

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#3078
  1. A pool with all the transactions unconfirmed by the nodes, validated by the nodes.
  2. Mempool grows
  3. Fees will go up
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#3079

The mempool is the unconfirmed tx pool

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

the mempool increase its size

How does a growing mempool effect transaction fees?

if unconfirmed tx increase in volume the incentives for miners to pick up largest profit grows as well

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#3080

1: A mempool is a special place where all transactions that make sense but have not yet been confirmed are kept.

2: The mempool will increase if miners can’t keep up with the rate of new transactions.

3: Transaction fees will increase, since miners will only prioritize those transactions with higher fees.

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#3081

  1. Each node has a mempool in which stores UTXOs that have been verified by the node and are awaiting to be confirmed by a miner to be added to the blockchain.

  2. If miners can’t keep up with the rate of the new transaction than transaction times take longer.

  3. A growing mempool increases transactions fees as miners will take the highest fees first when creating blocks.

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#3082

The mempool is a catalog of all unconfirmed transactions.

If miner’s can’t keep up with the rate of new transactions, the mempool will increase in size of unconfirmed transactions.

A growing mempool will create a supply and demand scenario for settling transactions thus potentially driving the transaction fees higher as users compete for transaction settlement.

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#3083
  1. A mempool is a list of all unconfirmed transactions.
  2. If the miners can’t keep up with the rate of transactions then there is a backlog and fees go up.
  3. The fees increase when as traffic on the network increases.

QUESTIONS GUYS

I have a few questions as there’s a lot I don’t understand.

Firstly, is it hypothetically possible to send a transaction with such a low fee set, that it will simply be ignored and never included into a block?

Secondly, what determines the Satoshi per Bite rate? Say I wanted to send 1000BTC. Would I be able to send it in a way where the Satoshi per Bite rate is small? Or are the variables that determine this simply out of my control?

Thanks in advance guys.

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#3084

  1. A mempool is a set of data structures in which all the transactions already verified and broadcasted by the nodes, but not yet been taken by the miners, are temporary saved.

  2. The mempool will become bigger and the transaction times will increase.

  3. It will increase the transaction fees and it will increase the competition between miners.

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#3085

Data structure each node has with unconfirmed transactions are put into the mempool

This will result in a bigger mempool

Higher transaction fees

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#3086
  1. It is a record of unconfirmed transactions
  2. the mempool grows
  3. people will have pay more to get their transaction processed. Miners can choose to mine transactions with more fees first.
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#3087
  1. What is the mempool?
  • A mempool contains the list of all unconfirmed transactions
  1. What happens if the miners can’t keep up with the rate of the new transaction?
  • The mempool grows bigger
  1. How does a growing mempool effect transaction fees?
  • it increases the transaction fees as miners will priotize the higher fees first.
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#3088

1.The mempool its standby area for all unconfirmed TX on the Nodes. the miners take this TX and confirm them!
2.the mempool grow faster and this Unconfirmed TX wait for other miners. the nodes forward this unconfirmed TX to another nodes mempool the time of the transaction would be longer…
3.increase competition and fees

how is it? ) :pray: :innocent: :thinking:

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#3089
  1. The mempool is a list of all transactions that are waiting to be processed.
  2. The mempool grows bigger and transactions take longer.
  3. Transaction fees go up as the mempool gets bigger.
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#3090
  1. Mempool is a list for each node over unconfirmed transactions.
  2. If miners cannot keep up they will prioritize the transactions with the highest fees.
  3. A growing mempool will push the transaction fees up as each block in the block chain is created every 10th minutes.
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