Homework on Mempool - Questions

Blockchain and Bitcoin 101
#3591

  1. What is the mempool?
    List of unconfirmed transactions that are in queue to be confirmed by a miner.

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

  3. How does a growing mempool effect transaction fees?
    Fees for fast transactions will go up as miners fill blocks with transactions that have the highes highest fees.

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#3592
  1. The mempool is the place where transaction wait before they are confirmed and added by miners into a new block.
  2. It will take more time for transactions to go through.
  3. Fees will get higher.
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#3593

  1. A storage place where all unconfirmed transactions are while they are being verified.

  2. This occurs when more transactions are being sent into the mempool at the same time and they are processed at a lower speed rate (more incoming transactions than verified outgoing transactions). This means that transactions will take longer time to take place and be verified.

  3. If there are more transactions waiting to be verified miners can choose most lucrative ones therefore fees rise as people don’t want their transactions to be stuck and bid higher fees to speed up the process.

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#3594

  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 gets bigger

  3. How does a growing mempool effect transaction fees?
    if the mempool grows a higher transaction fee will ensure your transaction will be handled first.

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#3595

  1. Mem pool is where are the pending transactions.

  2. the Mem pool gonna grow and the fees too.

  3. Because theres more transactions pending, people who want their transactions first have to pay more fees to get in the next block.

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#3596

  1. It is a data structure that keeps all unconfirmed transactions. Each node has its own mempool.

  2. It will become a delay of all transactions since the mempool will be larger.

  3. The minor will add the transaction with the highest fee first into the blockchain, so it will take longer time for the transactions with lower fee to be added into the blockchain.

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#3597

1.) Mempool is a database on every node that stores unconfirmed transactions until miners pick them up.

2.) The mempool starts to grow, causing TXs to take more time.

3.) TX fees start to rise.

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#3598
  1. Tracker of unconfirmed transactions and their fee.
  2. Through fee prioritization, those transactions that are unconfirmed will be stored on a mempool which would grow larger and larger until miners catch up.
  3. Fees will increase, which helps miners decide on what they will prioritize adding to a block.
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#3599
  1. Mempool is a type of waiting list for all unconfirmed transactions
  2. The mempool will grow bigger and those tx with low fees will drop out, so you will have to add a higher fee so your tx can go through
  3. The bigger the mempool is the slower it will take to get a tx confirmed so the ones with highest fees will probably become confirmed first
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#3600

Thanks for the correction!

#3601

1- List of unconfirmed transactions
2- It grows in size
3- Fees will raise. Miners will pick up the most expensive transactions

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#3602

  1. All the TX unconfirmed which come from nodes data.

  2. They will put all the lowest fees per TX on the side which will create overwork.

  3. TX fees increase with the number of TX as the miners had limited time to complete their Block and as they work for money, they’ll prioritise higher fees first.

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#3603

  1. The mempool is a data structure all nodes have where all the valid transactions wait to be confirmed by the Bitcoin network.

  2. The mempool transactions will accumulate in size, creating longer wait times for new transactions to process and an increase in transaction fees.

  3. A growing mempool will result in increased transaction fees, prioritizing transactions which spent more gas, getting them appended to the blockchain more quickly .

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#3604
  1. What is the mempool?
    A Mempool is a storage of unconfirmed transactions.
  2. What happens if the miners can’t keep up with the rate of the new transaction?
    The unconfirmed transactions are placed in the mempool and the miners choose to confirm the transactions with the largest fees first.
  3. How does a growing mempool effect transaction fees?
    As the mempool grows, the fees grow
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#3605

What is the mempool?
It is where all the unconfirmed transactions are stored.

What happens if the miners can’t keep up with the rate of the new transaction?
The mempool will be filled up and transaction time for low-fee transactions will increase until it clears up.

How does a growing mempool effect transaction fees?
Negatively, the fee would go up as miners are financially incentivized.

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#3606

  1. The mempool can be thought of as a data structure within each node, wherein transactions that make sense and abide by the given protocol can be stored to await selection by miners for confirmation within a new block.

  2. The mempool will grow and lead to delays as users increase Tx fees in hopes of accelerating their selection for confirmation within blocks, leading to backlogs of low Tx fee transactions.

  3. A backlog of Tx’s is created as miners are incentivized to select the highest Tx fee transactions to secure profit, as users experience delays with Tx confirmations, they increase their fees in hopes of being selected for addition into the next block, this process leads to further Tx fee increase until the backlog can be cleared.

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#3607
  1. a list/pool of unconfirmed transactions, yet to be included on the block chain/verified
  2. the mempool grows in size
  3. transaction fees are based on demand so this will increase tx fees
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#3608
  1. Pool of valid but unconfirmed transactions where miners will pick to add in the block chain.
  2. Memory pool will keep on expanding.
  3. If memory pool keeps on growing the fees will get higher because the higher the fee is the more likely it is going to be picked next and be added to the block chain.
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#3609
  1. The mempool is a list of unconfirmed transactions waiting to be confirmed.
  2. The mempool grows larger
  3. Transaction fees grow higher. Whoever pays more can go first.
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#3610

1. What is the mempool?
The mempool´s are transactions, there are all UTXO´s

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

The number of transactions in the meempool will increase, and the waiting time per transaction will be higher

3. How does a growing mempool affect transaction fees?

Since the miners are incentivized by the transactions, if the mempool grows, the fees will be higher per tx

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