Homework on Mempool - Questions

Blockchain and Bitcoin 101
#3471

It’s all of the unverified transactions.

The mempool grows.

Only the highest fees are taken, so it tends to become more expensive.

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#3472
    1. Once your wallet broadcasts your transaction to the network, nodes pick this up, verify it is legitimate, and place it in their mempool. This is where they store all their “unconfirmed” transactions. When a miner picks up a transaction and adds it to a block in the blockchain, the transaction is considered “confirmed” and removed from the mempool.
    1. If the miners cannot keep up with the rate of new transactions, the mempools will increase in size. Also, they will always pick transactions with higher fees, so in this case users will tend to pay more fees so that their transactions are prioritized.
    1. A growing mempool leads to higher fees.
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#3473
  1. What is the mempool?

The mempool is a record of all unconfirmed transactions that a miner has yet to append to the blockchain.

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

Unconfirmed transactions will pile up and transaction fees will most likely go up.

  1. How does a growing mempool effect transaction fees?

The fees go up because people will want their transactions to be prioritized by the miners.

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#3474
  1. A list every node has on pending transactions
  2. Mempool grows larger
  3. Transaction fee rates go up
2 Likes
#3475

  1. it’s a temp pool with all the broadcasted transactions

  2. transaction list grows big

  3. fees go up and time to process goes up too

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#3476
  1. What is the mempool? this is an interim area where transactions which make sense are waiting to be picked up by a miner an added to a block
  2. What happens if the miners can’t keep up with the rate of the new transaction? the # of transactions in the media pool grows
  3. How does a growing mempool effect transaction fees? the fees are most likely to go up as the people initiating transactions would want to increase the fee to get their transactions picked up quicker
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#3477

  1. A mempool is a waiting area for unconfirmed transactions waiting to be picked up by a miner to get put on the block. mempool short for memory pools.

  2. Once the Mempool reaches full capacity, the nodes start prioritizing transactions by setting up a minimal threshold. all unconfirmed transactions under the minimal threshold amount get removed from the mempool immediately.

  3. A growing mempool who create more opportunities for miners to get paid more by picking the higher fee transactions.

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#3478
  1. The mempool is a data structure where all the unconfirmed transactions stay till they are confirmed.
  2. the mempool grows and higher fee transactions get prioritized.
  3. based on Sats/B the miners look for the highest fee transactions and accelerate those transactions while the others take longer.
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#3479
  1. What is the mempool?

Simply put it’s a place where all unconfirmed transactions sit until they are placed on the blockchain.

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

Fees grow higher and the mempool gets larger.

  1. How does a growing mempool effect transaction fees?

Transaction fees get higher as people try and outbid each other to get onto the next block and miners take the highest bidder.

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#3480

  1. A list of transactions

  2. The list of transactions go up which can slow down the network

  3. Fees will go up as the miners will choose which transaction first to place in the block for who pays the higher fees

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#3481

  1. What is the mempool?
    Mempool is a list of unconfirmed transactions in a node where it has NOT been written into the blockchain

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

If miners cannot keep up with rate of transactions then, it will prioritize ones with highest fees.

3)How does a growing mempool effect transaction fees?

It will increase average sats/byte fee.

2 Likes
#3482

1.What is the mempool?

The mempool is a ledger of transactions held by all nodes including the miners (however not identically) that have been verified by all the nodes but are yet to be confirmed by a miner and hence added to the next block of the block chain.

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

If miners cannot keep up with the rate of new transactions then the size of the mempool will increase as more verified transactions are added than are being confirmed by the miners.

3.How does a growing mempool effect transaction fees?

A growing mempool will mean that there is more competition for the work of miners hence transaction fees will increase.

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#3483

  1. the pool of unconfirmed tx where miners can choose from to put in a block

  2. the fees will go up

  3. the fees will go up

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#3484
  1. The mempool is a place where unconfirmed transactions wait for the miners to pick them up and add them to the next block
  2. If miners cant keep up with the mempool , the mempool will grow larger.
    3.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.
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#3485 
  1. What is the mempool?

It’s a temporary place where unconfirmed transactions are held.

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

The mempool will grow and thus taking longer to validate transactions.

  1. How does a growing mempool effect transaction fees?

Miners will seek the highest fees (satoshis/byte). If mempool is too large, transactions will take longer and the fee prices will go up so the miners can build more blocks.

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#3486
  1. The Mempool is where BTC unconfirmed transactions are held until a miner selects it & includes it in the next block.
  2. The miners will prioritize transactions based on minimal fees to be paid to them, if that threshold is not met, then the transaction is removed from the pool.
  3. A growing mempool will cause higher transaction fees in order to clear the mempool.
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#3487

  1. What is the mempool? A database where all unconfirmed transactions are stored from the nodes before being processed by miners

  2. What happens if the miners can’t keep up with the rate of the new transaction? They will go into the mempool and select the transactions with the highest fee as. This means that there are longer transaction times but the miners are incetivized by the fees and will put as many of them into the next block to be processed

  3. How does a growing mempool effect transaction fees? The bigger the mempool the higher the transaction fee

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#3488
  1. The mempool is a list where unconfirmed Tx wait till a miner picks it up and put it in a block (if validated by nodes).
  2. The mempool grows larger with pending Tx and fees can go higher.
  3. If the Tx fee is higher, there is more chance of getting the tx picked by the miners. So is waiting times are long, then people will start offering higher tx fees and compete to get picked.
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#3489

What is the mempool?
The mempool is where all valid but unconfirmed transactions are stored. Miners select transactions from this pool to put in their candidate block prior to starting the proof of work algorithm.
What happens if the miners can’t keep up with the rate of the new transaction?
The target difficulty is decreased so that the time to mine a block of transactions is decreased. This recalibration occurs every 2,016 blocks.
How does a growing mempool effect transaction fees?
As the mempool fills up users will have to increase the fees they are willing to pay for their transaction in order to have it prioritised in the mempool. Miners order transactions in the mempool putting those with the most lucrative fees towards the top. The fee is measured in satoshi/byte not according to the transactional outputs.

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#3490

  1. Mempool is the list of unconfirmed transactions

  2. They are choosing then the transactions that will make them the most money

  3. It makes fees go higher (you have to pay higher fee if you wish for miner to pick your transaction)

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