Homework on Mempool - Questions

[hab2]

1. Mempool is a list of pending txns to be confirmed.
2. If miners cannot keep up with the rate of new txns, pending txns to be confirmed increase in the mempool.
3. Increase in mempool will allow miners to pick and choose the utxo with highest fee due to incentivization. As a result, naturally mining fee increases.

[Cryptomonk]

1.The mempool is the place where a validated (confirmed by nodes´s) Tx is stored before it gets picked up by a miner.

2.The size of Tx numbers in the mempool increases.
3. The fees get highter. In other words, if you want your transaction to be formed into a block quick you better pay a higher tx fee, cause miners pick up the Tx with the higher fees quicker (They want to make money).

[andreaspensold]

1. What is the mempool?
   The list of unconfirmed transactions that gets broadcasted across all nodes.

2. What happens if the miners can’t keep up with the rate of the new transaction?
   the mempool grows and transactions with low fees will wait long time for confirmation.

3. How does a growing mempool effect transaction fees?
   Miners are incentivized to earn money when they’re generating new blocks .
   Each block has a limited space, so miners prioritize simple transactions with high fees.
   If the mempool is large, transactions with low fees will wait long time to get written in a block.

[balintdaniel13]

1 The place where transactions waiting for confirmation
2 The number of txs in the mempool increasing
3Transaction fees increasin becouse from more ttransaction it requires more fee to get into the block.

[Osbiju]

1- Mempool is the place where all Tx that are signed and send by the wallet are waiting to be choosen by the Miner to be confirmed in the Blockchain.

2- If they can’t keep up with the rate, the number of unconfirmed transactions that are waiting in the Mempool increases so, it will take more time to confirm the transaction.

3- If the Mempool grows, the fees will increase, as it takes more time to be picked. Miners will always take the higher fees first.

[Truf3]

1. What is the mempool?
   Mempool is a pool with unconfirmed transaction, which waiting to be writed in block
2. What happens if the miners can’t keep up with the rate of the new transaction?
   It’s take some time to confirm the transaction
3. How does a growing mempool effect transaction fees?
   Miners interested in higher fees and first of all doing difficults transactions

[D08813]

1. What is the mempool?
   A. The mempool is a list of all unconfirmed transactions awaiting a miner to include them in the next block.
2. What happens if the miners can’t keep up with the rate of the new transaction?
   A. The mempool increases in size which increases transaction times. This encourages higher fees which in turn encourages more miners.
3. How does a growing mempool effect transaction fees?
   A. Becomes more expensive if you want transaction to be done quickly.

[dbproduction]

What is the mempool?

Every node has a mempool and this mempool consists of unconfirmed transactions.

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

Mempool is getting bigger, which leads to higher fees and more miners, so it can get smaller again.

How does a growing mempool effect transaction fees?

They are getting higher.

[enzinointhesky]

1. What is the mempool?
   The pool of unconfirmed transactions within a node.
2. What happens if the miners can’t keep up with the rate of the new transaction?
   The menpool grows
3. How does a growing mempool effect transaction fees?
   The fee depends on the size of the transactions (binary output) and it is measured in sat/byte.
   With a growing menpool the transaction fee increase. The longer the queue the more it needs to be paid to be executed in a decent time.

[Jargo]

1. the Mempool is a store of all the submitted transactions that are valid but yet to be confirmed and added to the blockchain.
2. If the miners cant keep up with the rate of new transactions the mempool grows in size and new transactions will take longer to be confirmed.
3. Transaction fees will likely increase if there is a mempool backlog as miners favor the higher satoshi/b fee and will process the highest paying transactions first.

[Seliman]

1. What is the mempool?

Mempool is a list of unconfirmed transaction.
Mempool list can be different from a node to an other.

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

The mempool will grow and transaction could take more time to be confirmed.

3. How does a growing mempool effect transaction fees?

A growing mempool will generate higher transaction fees as there are more « competitîng » transactions waiting to be confirmed.

[ElCrypto]

1. Stores unconfirmed transactions.

2. The mempool grows, fees get bigger.

3. Fees will be bigger.

[solich]

1. The mempool is a list of unconfirmed transactions
2. Mempool will grow larger and transactions will take longer.
3. The fees will grow, if you wan’t a faster transfer.

[AFatuliaj]

1. Mempool is collection of all unconfirmed transactions. They’re not UTXOs, just unconfirmed.

2. If a lot of txs, miners have backlog and tx time increases.

3. Growing mempool increases fees.

[Edson]

• This is a cecord of unconfirmed transactions
• The mempool will grow.
• One will have te pay more fee to get their transaction processed. Frontrun the transaction. Miners
  always pick the transactions with highest fees first.

[SAbreu]

1. It is basically a list of unconfirmed transactions;

2. The mempool will grow;

3. fees are likely to rise;

[Dexda]

1. It’s a list / pool of transactions waiting to be confirmed.
   2)The mempool will become bigger, longer waiting times for transactions to be fulfilled and TXs will be potentially more expensive to add on others.
2. More transactions will be taking longer to be confirmed and potentially be more expensive.

[kdivus]

1. What is the mempool?

The mempool is a place where unconfirmed transactions wait for a miner to pick them up to add to the next block.

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 rate then the mempool grows larger and there are longer transaction times(block log will go big).

3. How does a growing mempool effect transaction fees?

Transaction fees increase with a larger mempool because of the competition to get the transaction to the next block.
Larger fees are offered to miners to get the transaction picked first.

[SopheeDee]

1. What is the mempool?

It is the data structure in a node that contains unconfirmed transactions.

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

I’m guessing he will not be able to add it to a block?

3. How does a growing mempool effect transaction fees?

To avoid being overloaded, once the mempool is saturated and has the max. transactions pending it can take, the nodes manage the transaction traffic by establishing a minimum transaction fee, so that any transaction that meet that minimum will be prioritized and added to the mempool, while the ones with fees that don’t meet the minimum will be removed.

[Diego_Scaiano_Young]

1. The mempool is that “special” place in a node where transactions that have not yet been confirmed but validated are stored.

2. If the transaction does not fit in a block because it is large, you must include it in the next block.

3. It will increase the fee costs