Homework on Mempool - Questions

[KoenV]

1. A mempool is list of unconfirmed transactions. The transaction stays in the mempool until it is picked up by a miner and put in a block.
2. The mempool grows larger with new transactions
3. Transaction fees will rise since miners prioritize transactions with higher fees.

[JoonasMakinen]

1. What is the mempool?
   List of unconfirmed transactions.

2. What happens if the miners can’t keep up with the rate of the new transaction?
   Mempool grows larger so there is longer transaction times.

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

[pmonst]

1. What is the mempool?
   Mempool, is the place where new transactions are place, whilst waiting to be confirmed, then added to a blockchain by a miner.
2. What happens if the miners can’t keep up with the rate of the new transaction?
   If miners can’t keep up with new transitions, the Mempool will increase in size, this will increase the transaction fees.
3. How does a growing mempool effect transaction fees?
   The transaction fee will increase, to attract miners.

[Ebby]

1. What is the mempool?

• Mempool is the place where the unconfirmed transaction is listed.

2. What happens if the miners can’t keep up with the rate of the new transaction?
   -The size of the pool will grow.

3. How does a growing mempool effect transaction fees?
   -Miners work for the rewards. In this case, a longer waiting list means more competition. Who wants to be quick to put in the block, needs to offer a higher fee.
   In other words how bigger the mempool is, how higher the transaction fee.

[mhamour]

Homework on Mempool
1- the place where it holds all unconfirmed transactions.
2-the mempool will grow bigger and waiting time for trasaction to be confirm will long time.
3- the fees calculated based on the size of the transaction the more input and output the bigger transaction means higher fees.

[LuizCyriloA]

1. A list of unconfirmed transactions.

2. of unconfirmed transactions will increase, also increasing the fee.

3. Since miners search for the highest fee, more users means you have to pay a higher fee so your transactions is chosen by the miners first.

[Clica]

1. The mempool is a collection of all transactions that are not yet confirmed but make sense for the node

2. The transaction will be stored in the mempool until it is inserted into a block which may lead to congestion of the network and lots of pending transactions .

3. The miners always pick the transaction with the highest fees first , this means that a growing mempool could spike up the transaction fees

[JasonM]

1. What is the mempool?
   This is a list if unconfirmed transactions.

2. What happens if the miners can’t keep up with the rate of the new transaction?
   This will result in longer transaction confirmation times.

3. How does a growing mempool effect transaction fees?
   As the number of unconfirmed transactions increase in the mempool, this will potentially result in higher transaction fees for those that want to increase their chance of being confirmed in the next block.

[AD4]

1. Mempool is a data structure that each node has which shows a list of unconfirmed transactions.

2. It takes longer for the transaction to take place

3. The larger the mempool, the higher the transaction fee is.

[k_k]

What is the mempool?

Place wher node keeps uncofirmed transactions
What happens if the miners can’t keep up with the rate of the new transaction?
They will not proceed them and keep them in the mempool to take care later
How does a growing mempool effect transaction fees?
It increases transaction fees which leads to increas of competition of the miners to catch transactions

[Mako]

1. These are pending transactions with each Node and Miner awaiting selection by the miner to work on confirming. As soon as the transaction is placed in the blockchain, the miner removes it from the mempool, and broadcasts it to all the other nodes it communicates with.
   The transaction is received from the node containing the wallet after the holder signs the transaction and the node propagates it to all the nodes it communicates with who in turn continue to propagate.
   The nodes do a quick validation and then insert it if the transaction is ‘well formed’.

2. The miners will queue the transactions in the mempool.

3. The growing mempool, causes the transaction fees to go higher because the miner is incentivised and they will pick the transactions with the highest fees and this transaction may never be confirmed.

[Wolle]

1.) Mempool is a database within every Node of the system, that contains all unconfirmed transactions in the network. After a miner added this unconfirmed transactions to the blockchain, they will erased from the mempool.

2.) The time of confirmation of transactions will rise, if the miners can not keep up with the rate of new transactions.

3.) As the miners only adding the transactions with the largest size and therefor with the biggest fees the costs for transactions to add to the blockchain will rise.

[Connor]

1. How many transactions are currently unconfirmed and what their fees are.

2. They choose the transactions with the highest fees and include as many as possible in the next block.

3. Pushes them higher as competition increases for block space.

[Castor]

1. The mempool is a collection of all the unconfirmed transactions in that network.

2. If the miners cant keep up with the rate of new transactions the mempool will grow larger and larger.

3. A growing mempool will mean that transaction fees get higher, and higher transaction fees in itself will incentivise more miners to come and do their job.

[ivory_elephant]

1. A mempool is a list kept on a node of valid but unconfirmed transactions. as these are not yet published on the blockchain, each node may have a different list of transactions in its mempool

2. If miners cannot clear the number of transactions there will be a backlog of transactions on the mempool.

3. A growing backlog will force users who want their transactions to clear to increase their bid on transaction fees, since the market is free miners can choose to validate the transactions that pay the highest fees (satoshi/byte).

[KHovadablock]

1. What is the mempool?
   The mempool is the holding place for unconfirmed txns waiting for miner pick-up.

2. What happens if the miners can’t keep up with the rate of the new transaction?
   Congestion in the mempools as the number of transactions waiting for confirmation grows

3. How does a growing mempool effect transaction fees?
   As the demand for “block real estate” grows, and miners pick up transactions with the highest txn fees, causing the baseline txn fee suggested by a user’s wallet to be higher

[DearPhumi]

1. What is the mempool?
2. What happens if the miners can’t keep up with the rate of the new transaction?
3. How does a growing mempool effect transaction fees?

1.Its a list of UTXOs that is being stored in each node, waiting for miners to be picked up and put in a block to eventually be confirmed.
2.The mempool will grow and the transaction time will increase.
3.Transaction fees will go up.

[Pakeshi]

1. What is the mempool?
   -A mempool is a data structure on every node, which contains a list of unconfirmed transactions
2. What happens if the miners can’t keep up with the rate of the new transaction?
   -The mempool will keep on growing
3. How does a growing mempool effect transaction fees?
   -As miners work on insentives, they will choose first the transactions with the highest fees

[Anonymous]

A “pool” of unconfirmed transactions.

transaction costs will rise

Fee go up

[LenoraEl]

1. The Mempool is the holding space for all transactions that have been verified by the node but are still unconfirmed.

2. The Mempool grows and transaction times are longer.

3. A growing mempool means the miners have the discretion to choose transactions with higher fees 1st. This is fair because fees are incentive for including transactions into the block. This keeps miners working to secure the blockchain.