Homework on Mempool - Questions

Blockchain and Bitcoin 101
#3551
  1. mempool is a list of all unconfirmed transaction are whiting for the miners to be peeked up.
  2. larger mempool.
  3. growing mempool will increas the fee.
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#3552
  1. What is the mempool?
    • A list of all unconfirmed transactions. A transaction remains in the mempool until miners decide to include them in a block.
  2. What happens if the miners can’t keep up with the rate of the new transaction?
    • Mempool will grow larger and transaction times will increase.
  3. How does a growing mempool effect transaction fees?
    • Growing mempool incentivises miners to accept higher fees by individuals wanting their transactions to clear faster therefore driving up the fees.
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#3553
  1. List of unconfirmed transactions
  2. Mempool will grow in number of unconfirmed transactions
  3. Increasing fees
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#3554
  1. The mempool is a dynamic container where the list of unconfirmed transactions goes from the nodes waiting for miners to confirm them. The miners will pick the transactions with the higest fee first, therefore if you want a fast TX you should go for a high fee one, if you want a cheap one, you may wait longer
  2. The mempool grows and overall the TXs take longer to be confirmed.
  3. Since there’s always a competition among miners for the highest fees, if the mempool grows then the TXs with higher fees will be confirmed first and therefore the market is more expensive
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#3555

Homework - Mempool
Bitcoin Basics

What is the mempool?
Where transactions are stored before they are approved by miners.

What happens if the miners can’t keep up with the rate of the new transaction?
The tx are stored in mempools and the mempool grows.

How does a growing mempool effect transaction fees?
Increases the transaction fees.

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#3556
  1. it is the unconfirmed transactions in a node.
  2. fees could get higher
  3. It will increse the fees.
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#3557

1, What is the mempool?

  • Mempool has all the unconfirmed transactions

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

  • The size of the mempool increases.

3, How does a growing mempool effect transaction fees?

  • Fees will increase.
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#3558

  1. What is the mempool?
    a queue (list) of unconfirmed transactions waiting to be picked up by the miners.

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

  3. How does a growing mempool effect transaction fees?
    Fees go up due to increasing demand.

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#3559
  1. a mempool is where unconfirmed transactions go waiting for a miner to verify.
  2. If miners cant keep up with transactions the mempools will grow and transaction times are slowed.
  3. Miners incentives are through gaining sats so transactions paying the largest fees will be prioritized making for larger fees across the network. People are are willing to pay more to get into the next block and have their transaction confirmed.
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#3560

1- The mempool is a list where unconfirmed transactions go waiting to be verified by a miner
2- The mempool increases
3- It makes the fees increase

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#3561

1. What is the mempool?
The mempool is the pool that contains the unconfirmed transactions. After been confirmed from a miner the unconfirmed transactions will be append into blockchain.
2. What happens if the miners can’t keep up with the rate of the new transaction?
The mempool is filling up and the fees too
3. How does a growing mempool effect transaction fees?
Growing mempool increases the transaction fees wich increases competition among the miners.

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#3562

  1. What is the mempool?
    Mempool (Memory Pool) is the data structure chart listing unconfirmed transactions awaiting blockchain assembly (validating confirmation to the Blockchain Ecosystem) and posting to the open blockchain ledger that is recognized by the Nodes. (CPUs within the Network)

  2. What happens if the miners can’t keep up with the rate of the new transaction?
    Like any line or que, a backlog grows. The resultant processing lag times in confirmed or posted transactions are likely.

  3. How does a growing mempool effect transaction fees?
    Since the miners select the transactions with the higher fee structures, increase demand will result in higher processing fees until the backlog is reduced. (*basic supply vs. demand economics)

rjr
2021-03-04T05:00:00Z

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#3563

In mempool are all broadcasted transactions.

  1. Transactions took more time to be confirmed and fees are higher

Priority fees are higher.

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#3564

1.The mempool is a data structure inside the nodes that records the unconfirmed transactions.

  1. Unconfirmed transactions start to build and the transaction confirmation delays increase.

  2. In order to be confirmed more quickly the fees increase to prioritize the order.

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#3565
  1. What is the mempool?
    It is the register of all non-confirmed transactions
  2. What happens if the miners can’t keep up with the rate of the new transaction?
    They will prioritize them by the fees they get to put them in the new block
  3. How does a growing mempool effect transaction fees?
    The more unconfrmed transactions are stuck in the mempool the more fee you will pay to speedup (get prioritization) to confirm your new transaction
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#3566
  1. It’s a node specific list of uncorfirmed transaction by minner’s.
  2. Number of uncorfirmed transaction will be growing.
  3. Fees will moon as well.
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#3567
  1. the mempool is a list of all unconfirmed, but accepted transactions, which is kept by the nodes
  2. the mempool gets bigger, which leads to longer transaction times and higher fees in order to get prioritized
  3. the fees increase
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#3568

  1. The mempool consists of the transactions that have not yet been confirmed. Each node has its own mempool which consists of a list of unconfirmed transactions. The miner then has to confirm what is inside of the mempools.

  2. When a miner cannot keep up with the rate of new transactions, the list of mempools get longer and there may be higher fees associated.

  3. A growing mempool effects transaction fees because the miner is more likely to choose a transaction with a higher fee. If there is more competition, the fees will go higher to combat that.

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#3569
  1. What is the mempool?

The mempool is a data place where unconfirmed transactions wait until the miners confirm the transactions. Every node has a mempool and stores unconfirmed transactions that are broadcasted to them and makes sense to the blockchain.

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

If miners can’t keep up the rate of new transactions they will prioritize the transactions with higher fees, the waiting time for transactions will increase and the fees will be higher because of the market fee.

  1. How does a growing mempool effect transaction fees?

As more transactions are waiting in a mempool more expensive will become the fees of new transactions because of the market fee. It means that people will want quicker transactions so they will pay higher fees in order to achieve that.

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#3570

  1. What is the mempool?
    A mempool is basically a place where all unconfirmed transactions remain until a miner is able to locate and add it to the blockchain.

  2. What happens if the miners can’t keep up with the rate of the new transaction?
    It accumulates more unconfirmed transactions creating a longer wait period to clear pending fees.

  3. How does a growing mempool effect transaction fees?
    It affects the transactions fees because miners prioritize transactions with higher fees making more profitable for the blockchain.

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