Homework on Mempool - Questions

Blockchain and Bitcoin 101
#303

Ahhh I got caught up in the in the language and blurred the line between those two things, thank you again sir

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#304
  1. A mempool is a database of unconfirmed transactions.
  2. If the miners can’t keep up with the rate of a new transaction the mempool becomes larger and the transaction takes more time.
  3. A growing mempool will likely cause an increase in transaction fee. The larger the fee, typically the faster your transaction.
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#305
  1. List of all utxo
  2. Mempool grows and it takes more time utxo to get confirmed
    3.Fees go up
#306

List of all unconfirmed transactions waiting to get included in a block by a Miner.
utxo’s are part of such transaction to change ownership (by using it as input and directing to wich output they need to go)

#307

Thanks for clarifying :grinning:

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#308
  1. Mempool is data structure, that stores unconfirmed transactions.
  2. Mempool will grow bigger, transaction fees could increase because of bigger demand.
  3. Bigger the mempool, demand will grow, so fees will increase
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#309
  1. List of unconfirmed transactions for each node
  2. Mempool will grow larger
  3. Growing mempool will make the transaction fees higher because miners prioritize the ones with higher fee. This can also lead to higher competition
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#310

Homework on Mempool - Questions

  1. What is the mempool?
    Every node (or miner) has a mempool. It stores the unconfirmed transactions.
  2. What happens if the miners can’t keep up with the rate of the new transaction?
    The number of unconfirmed transactions in the mempool grows.
  3. How does a growing mempool effect transaction fees?
    Miners are incentivised to earn rewards. They will look to earn as much Satoshis/Byte as possible. Increasing the transaction fee will give therefore preferential pick to be included in the next block.
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#311
  1. The mempool is the holding area for all unconfirmed transactions
  2. The volume of transactions in the mempool will grow if the miners cannot keep up
  3. Transaction fees will increase as competition grows to be the next selected transaction awaiting miner confirmation
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#312

1. What is the mempool?
The mempool is a storage area for all of the node’s pending transactions waiting to be validated by the miners. It is the node’s collection of all the unconfirmed transactions.

2. What happens if the miners can’t keep up with the rate of the new transaction?
If the miners can’t keep up with the new transaction they will be stored within the mempool until they are release to the block, transaction fees will increase and the transaction time will be longer.

3. How does a growing mempool effect transaction fees?
The transaction fees will increase and the transaction time will be longer. If the Mempool size gets too close to the RAM capacity, the node sets up a minimal fee threshold.

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#313

  1. It’s a temporary storage of unconfirmed transactions

  2. Mining fees go up and mempool gets backlog.

  3. Fees go up

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#314

  1. The mempool stores all unconfirmed transactions.

  2. The mempool will be larger and transactions will take longer time to confirm.

  3. The transaction fees will increase because the highest fee transactions will be confirmed first.

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#315

  1. All of the stored transactions.

  2. A backlog in transaction processes.

  3. Fees go up.

#316

  1. It’s a digital pool where all new transactions are lying, waiting to get picked up by a miner, to add them to his block.

  2. The mempool will grow bigger and transaction confirmation will take longer, especially the ones with low fees.

  3. The fees will increase because the miners have the incentive to pic up the highest fee transactions.

#317
  1. All nodes hold a list of unconfirmed TX in the space including the fee data.
    2.The tx will wait unconfirmed in the nenpool tx takes longer because naturally higher bids get prioritized general fee grows,
    3.As previously explained and adding the fact that fees depend on amount of bytes used then the growing mempool gives an extensive supply for miners of larger binnaric usage in the system so bids grow naturally.
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#318
  1. the mempool stores all the unconfirmed transactions
  2. mempool gets bigger
  3. if you want your transaction to be added fast you have to pay more
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#319

  1. this is an in memory collection of the unconfirmed transactions that have occurred.

  2. the size of the mempool keeps growing until the system memory is exhausted. This will probably not be apparent to users who will just be sitting for hours waiting for their transactions to be confirmed.

  3. Users will most likely start increasing their transaction fees to start guaranteeing that their transactions get confirmed.

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#320

  1. Mempool is unconfirmed transactions distributed in the network waiting for miners to confirm them and add to the block

  2. Miners will prioritise transactions with higher fees

  3. Growing mempool will increase the fees

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#321

  1. it is basically a list of unconfirmed transactions.

  2. the mempool will become bigger and the fees will increase as you have to incentivize the miner to pick your transaction.

  3. the transaction fees will increase as more and more TX are pending and the miners will always pick the ones with the higher fees. So the competition brings fees to rise.

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#322

  1. What is the mempool?
    A memory pool of pending transactions awaiting approval by a miner.

  2. What happens if the miners can’t keep up with the rate of the new transaction?
    The mempool grows and transactions with higher fees are prioritized. Transactions offering lower fees will take longer to process.

  3. How does a growing mempool effect transaction fees?
    Transaction fees will rise.

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