Homework on Mempool - Questions

  1. Mempool is the data structure (the special place) that each Node has.
  2. The processing time for blocks creation increases, therefore system slows down.
  3. More transactions the slower it gets and fees go up.
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  1. What is the mempool?
    A list of unconfirmed transaction’s pending to get into the next block.

  2. What happens if the miners can’t keep up with the rate of the new transaction?
    transactions building up in the memo pool, causes fees to increase.

  3. How does a growing mempool effect transaction fees?
    a growning memopool increases competition amongst miners. Miners are incentivized to pick transactions with higher fees. which helps transaction get added into a block sooner then later, keep the network flowing as seamlessly as possible.

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  1. a mempool is an area where unconfirmed transactions are stored until taken out by miners
  2. if miners can’t keep up, they will take the transactions with the highest fees and the fees per byte will be increasing
  3. a growing mempool would increase fees
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  1. What is the mempool?
  • The mempool is a an unconfirmed transaction count
  1. What happens if the miners can’t keep up with the rate of the new transaction?
  • Transactions cannot be confirmed without the miner. If miners cannot keep up with the rate of new transactions the mempool will increase.
  1. How does a growing mempool effect transaction fees?
  • Transaction fees will increase as the mempool increases due to the demand for miners. Supply and demand laws act in favor of the miner therefor fees can be raised to incentivize miners to prioritize a transaction.
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  1. a mempool is a list of all unconfirmed transactions
  2. the mempool grows in size
    3.the transaction fees will go up!
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  1. What is the mempool?
    Basically a holding/waiting area for transactions to be confirmed
  2. What happens if the miners can’t keep up with the rate of the new transaction?
    Transaction times increase, takes longer to get confirmed
  3. How does a growing mempool effect transaction fees?
    Transaction fees go up. More competition among miners.
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1.The mempool is all the unconfirmed transations.

2.The mempool gets bigger and transactions take longer to process

3.Transactions fees rise.

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1. What is the mempool?
Mempool is a structure of data that holds all unconfirmed transactions that nodes agree are legitimate but are waiting for a miner to confirm and add onto the blockchain.

2. What happens if the miners can’t keep up with the rate of the new transaction?
The mempool will increase with a backlog of unconfirmed transactions that are waiting to be confirmed by miners.

3. How does a growing mempool effect transaction fees?
More unconfirmed transactions in the mempool means higher fees.

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1- Mempool us a list of unconfirmed transactions
2- Both transaction time and the fees increase
3- The bigger the the mempool the higher the fees

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  1. The Mempool is where the nodes store transactions that they have reviewed until the miners are able to take them and add them to a blockchain.
    2.The mempool size will grow if the miners cant keep up with demand.
  2. The fees will increase if the mempool grows too much.
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What is the mempool?
The Mempool is where unconfirmed transactions get stored by nodes before being passed to a miner to be added to the blockchain.

What happens if the miners can’t keep up with the rate of the new transaction?
If miners can’t keep up with the rate of new transactions the Mempool will grow in size and fee’s will also increase as users increase the amount they’re willing to pay in fees to get their transaction added to the blockchain quickly.

How does a growing mempool effect transaction fees?
The bigger the Mempool the higher the likely fees are going to be as users will give larger fees to get their transaction added into a block quicker than others.

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1: The mempool are the unconfirmed transactions of each node waiting to be added to the blockchain.

2: If the miners cant keep up with the rate of new transactions, transaction time will increase due to “the wait”.

3: A larger mempool results in higher fees as miners are financially incentivized. Proposed transactions will have higher fees as they want to get confirmed faster.

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  1. Each node in bitcoin network has a mempool that consists of validated but not yet confirmed transactions. Miners read mempools and confirm transactions which are then stored in blocks.

  2. The mempool grows and transaction time in the network increases.

  3. The fees grow, because miners want profit and prioritize transactions with higher fees.

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1)block of transactions
2)longer transaction times
3)transaction fees increase

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  1. It’s a list of all transactions
  2. The transactions will take longer
  3. Fees go up
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  1. Mempool is datastructure which contains all unconfirmed transactions. Every node has copy of it
  2. You will wait longer for your transaction to be confirmed.
  3. If there are more transactions it will leads us to competition. Only transactions with higher fee win this competition. More transactions -> higher fees.
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1)The mempool is a list of all utxo’s that need to be confirmed by a node.
2) If the miners cant keep up with the new transaction rate, the gas fees increase as the TX fees increase and the price war for transaction speed is on because the miners are incentivized through the gas fees
3)A growing mempool is a capitalists dream! The growing transaction market causes price hikes by providing the miners a choice as to which transactions will be processed first. My guess is the more I add to the gas fee the faster the transaction will go through

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  1. A mempool is where transactions go after a node has confirmed it makes sense. Then a miner will take the transaction from the mempool and process it.

  2. If a miner cant keep up with the rate of the new transaction. It will be left in the mempool for longer, which increases the size of the mempool. The transaction times will also become longer.

  3. A growing mempool affects transaction fees by creating a competitive situation. Users will raise their fees to speed up their transactions to get into the next block. This is because miners will always pick the highest fee, as they are the ones that get the fee as a financial reward.

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  1. It is the space taken by unconfirmed transactions in each node.
  2. The mempools grow.
  3. Fees will increase to incentivize miners to work and clear the mempools.
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  1. A mempool is a so called “paper or script” where UTXO’s are getting stored

  2. The mempool keeps growing and will get full eventually because there is limited space

  3. Because the miners get payed by KB

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