Homework on Mempool - Questions

[diogozas]

1. Mempools will have all the unconfirmed transaction that will be picked up by the miners. They include in the block the transaction with higher fees as they will make more money.

2. Fees will go up and transaction will take longer to be confirmed.

3. Fees will be higher because there will be more competition for transaction to be included in the next block.

[Jirure]

1. A data structure in which all unconfirmed signed transactions appear. They remain there until a miner adds the transactions to a block in the chain.

2. The mempool grows larger.

3. It will increase the required transaction fee, because miners are incentivized to add the transactions with the highest fees first.

[JohnX]

1. Mempool is a storage of all unconfirmed UTXO:s. This mempool is located in the node computers.

2. The transactions will be unconfirmed until the miners handle and confirm them.

3. It will increase the fees.

[creatiiive]

1.Its a pool of memory where unconfirmed transactions are sunbathing, drinking Pina Colada and waiting for their Miner to come write them up on the block.

2. Mempool gets bigger, longer wait and people with higher fees will be prioritize.

3. Itll push the transactional fees.

[ZePhYr]

1. A list of unspent transactions for the miners to process.
2. The mempool grows bigger and transaction times may get longer.
3. it raises the fees as it grows the mempool as miners are searching to process those utxo with the highest fees first.

[FuriousD]

1. A pool of unconfirmed transactions waiting for a miner to add them to a block.

2. The mempool is a sort of buffer that gets bigger when miners can’t keep up with the rate of new transactions.

3. A growing mempool has the effect of increasing transaction fees as more people are willing to increase their fee to have their transaction processed in a reasonable amount of time.

[Stefan]

1. from the mempool unconfirmed transactions being picked up by miners

2. the mempool grows, the waiting (transaction) time increases, as the fees do

3. Since miners pick the transactions with the highest transaction fees first, the fees will increase in this example

[Barrygone]

1.-A memory pool or waiting area where confirmed transactions sit until a miner comes and takes it to a new block
2.-Mempool saturates and it takes longer for it to be put into a block and get totally confirmed
3.-Competition to get on a block goes up.

[Jimmyo]

1. Mempool is a place where TX are waiting to be picked up by miners

2. Transaction times will increase

3. Transaction fees with increase

[michelaketer]

1. MEMPOOL = Memory Pool and it space that nodes and miners dedicated to transactions that are uncomfirmed from the network.

2. Mempools grow larger with pending transaction. Especially those transactions that do not have a high fee.

3. Miners choose transaction that have a higher fee, so the fee will increase.

[Zoltan]

@ivan

What is the mempool?

Mempool is a collection of unconfirmed transactions propagated to the network by wallets. Each full node has its own mempool. Miners pick transactions with the highest fees to include them in their blocks. Transactions that were not included in the new block, will remain in the mempool until they get picked up by a miner.

@ivan

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

Transactions will become slower as mempool grows.

@ivan

How does a growing mempool effect transaction fees?

Transaction fees will increase, as people whom would like their transactions to go through faster will have to incentivise miners to select their transactions from the mempool.

[ogm]

• What is the mempool? The mempool is a computer language structure that stores the “unclaimed” bitcoin transactions that a miner has not accepted. The mempool is updated across all full nodes. Nodes access their mempool or another node’s mempool to hunt for the best bang-for-the-buck TXs, where the fee is high and the bytes are low, then append the desired TXs to the node’s current block, updating the mempool which replicates across the nodes.
• What happens if the miners can’t keep up with the rate of the new transaction? The mempool grows large.
• How does a growing mempool effect transaction fees? Fees will be driven higher in order to get TX claimed (confirmed).

[Kav]

1. What is the mempool?

When a transaction is conducted over a network, it is transmitted and held in what is known as the Mempool (Memory pool) until a
cryptocurrency miner picks it up and includes it in the next block.
2. What happens if the miners can’t keep up with the rate of the new transaction?
A bottlencek is created and transactions takes longer to be processed
3. How does a growing mempool effect transaction fees?
An increse in fees will occur

[Jian_Hao_Wei]

What is the mempool?
A list of valid unconfirmed transactions on a node or miner.

What happens if the miners can’t keep up with the rate of the new transaction?
The new transactions will be put on the mempool and transaction times grows.

How does a growing mempool effect transaction fees?
Transaction fees increases. Transactions with the highest sat/B will put in the blocks first. Transaction fees with lower sat/B will be unconfirmed for a longer time.

[P.T.O]

1. In simple words its like waiting area . ( output transactions that are waiting to be picked up by miners and put in to the block )
2. If the Mempool its to full miners will pick up the transactions with higher fees first and if you fee its lower it will take longer time for your transaction to go in to the block .
3. To my understanding I believe that more of transactions being accumulated can have multiple effects . (1) Price of transactions going higher .
   (2) Longer time period of transactions posted .

[Rish_Messina]

1)Mempool is where transactions are stored
2)If the miners can’t keep up with the backlog of transactions the transactions build up
3)When this happens the transaction fee goes up

[dragos_andrei_87]

1. What is the mempool?
The mempool is the Data Base with all Unconfirmed Transaction inside the Blockchain.

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

Not sure of the answer. Please correct me if I am wrong.
The transaction will take longer to process. Therefore a new Block will take longer than 10 minutes be created.

3. How does a growing mempool effect transaction fees?

Not sure of the answer. Please correct me if I am wrong.
As the Miners are processing transaction that offer the higher Fees, I believe the the Wallets will increase the Fees in order for the Transactions to be processed faster.

[Peter_lembessis]

1. A place where unconfirmed transactions waiting to be verified by a Node or a Miner to be added to a Blockchain.
   2.The mempool grows and produces longer transaction times
2. Transactions offering higher fees get taken first. Miners get paid more with higher fees, thus proccessing the higher transaction fees first.

[jacksenn]

1. Store of unconfirmed TX
2. The transaction takes much longer.
3. Transaction fees goes up.

[jdbarrancs]

1. The mempool is where unconfirmed transactions are stored.

2. If the miners can’t keep up with the rate of the new transactions, the mempool will grow, and miners will pick first the transactions with higher fees, therefore making transactions take longer time.

3. Growing mempool affects transactions fees because the fees increases, and transactions with lower fees will be unconfirmed for longer.