Homework on Mempool - Questions

[ZeroCero]

1. The mempool is the place where unconfirmed TXs are till a miner put it in a block

2. If the miner can’t keep the mining rate, the mempool grows, and the transaction rate gets longer

3. If the mempool grows, the fees grows too

[Jouna]

1. is the queue of unconfirmed transactions waiting to be processed
2. It will move on to the next block
3. Fees go up with the amount of transactions

[Geo718]

1. The mempool is data structure that denotes transactions’ fees and availability.

2. If miners can’t keep up with new transactions, the mempool will grow.

3. A growing mempool gives more transaction fee options for miners and fees will increase as well

[flavorkicker]

1. The mempool is a list of all unconfirmed transactions.

2. If the miners can’t keep up with the the rate of new transactions then the transaction will sit in the mempool. This will lead to longer transaction times. When the mempool is full, nodes will prioritize transactions by setting a minimum fee. All transactions with to low of a fee will be removed from the pool.

3. A growing pool means that transactions fees will become higher.

[MisterPink]

1. What is the mempool?
   The mempool is the pool wherein all unconfirmed transactions stay waiting for confirmation.
2. What happens if the miners can’t keep up with the rate of the new transaction?
   The mempool fills up. Miners pick the transactions with the highest fees first, which will cause delays in confirming transactions with lower fees and which therefore have lower priority.
3. How does a growing mempool effect transaction fees?
   The growing mempool will force tx fees to raise as only the highest fee’d txs will actually be chosen by miners. Thus simultaneously creating more demand for miners. So long as this demand is filled, the fees will naturally level out or reduce.

[Mr.Flo]

1. A list of unconfirmed transactions waiting to be picked up and added by a miner into a block and then integrated into the blockchain (transaction:confirmed).

2. The mempool increases and transactions may be delayed depending on the transaction fees spent(transactions with higher fees get prioritised).

3. It increases transaction fees(transactions with higher fees get prioritised).So if you want your transactions to be quickly put into a block by a miner, you need to set/pay a high fee.

[Roman_Mazuryk]

1. What is the mempool?
storage of pending TXs

2. What happens if the miners can’t keep up with the rate of the new transaction?
this leads to increasing mempool and longer Tx’s time

3. How does a growing mempool effect transaction fees?
Tx’s fees increase in order to get the job done.

[Cryptomunchie]

1. The Mempool is a list of unconfirmed transactions.

2. The mempool will be crowded and the transaction time to confirm will take longer.

3. The larger the pool the higher the transaction fee will be.

[Tyme_Time]

1.list of unconfirm transaction.
2.mempool grows.
3.transaction increase.

[earlyster]

@ivan

What is the mempool?

A mempool is where the transactions leave your wallet and sit until nodes can validate and miners can add them to the block chain. I think of it like the lobby you enter before entering a building. There is a nice visualization of the mempool here - https://jochen-hoenicke.de/queue/

@ivan

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

The mempool grows in size and new transactions are added to the queue

@ivan

How does a growing mempool effect transaction fees?

Transactions with higher fee will be given priority by the miners

[raulcastrillo]

1. What is the mempool?
   Is the place where all the unconfirmed transactions are placed, waiting to be confirmed and put into the blockchain

2. What happens if the miners can’t keep up with the rate of the new transaction?
   I asume they get stored in the mempool, and it becomes bigger and bigger. Therefore people pay bigger transactions fees so their transaction gets confirmed.

3. How does a growing mempool effect transaction fees?
   It increases the fee costs, as everyone pays more to get out of the mempool, into the blockchain

[Tufti]

1. What is the mempool?

It is a pool where unconfirmed TXs are stored till they get confirmed and put into a block by a miner.

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

The mempool grows larger. This will lead to longer transaction times.

3. How does a growing mempool effect transaction fees?

It increases the transaction fees, since the miner always give priority to the transaction with the highest fees.

[Frank1]

1.The mempool is a data structure on the blockchain that is filled with validated but unconfirmed transactions.

2. Then the amount of uncofirmed transactions in the mempool will grow which will slow down everything from transactions to confirmation time

3. The larger the mempool the higher the fees because users on the network will pay higher fees to insure their transaction is chosen over other pending transactions on the blockchain which in turn will let miners charge higher fees for all transactions on the blockchain because they only have 10 minutes to fill up their block with the best transactions possible that will give them the highest profits

[bbobb]

1. What is the mempool?
   The mempool is a data structure that consists of all the unconfirmed transactions.

2. What happens if the miners can’t keep up with the rate of the new transaction?
   Transactions will stay in the mempool until they are picked up and confirmed by miners.

3. How does a growing mempool effect transaction fees?
   It will be harder to get transactions confirmed, so fees will go up on transactions to incentivize miners to pick those transactions first.

[Bengtsson]

1. a Mempool is a list of unconfirmed transactions waiting to be processed.
2. The mempool will increase, resulting in longer transaction confirmation times and increased fees .
3. Increased fees.

/ Viktor

[Den_Wal]

1. Mempool is a pool of all pending transactions (TX)
2. The mempool increases
3. Whoever pays more is more likely to go first

[Paul_Brisk]

@ivan

Homework on Mempool - Questions

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. The mempool is the list of unconfirmed transactions which are transactions that have been verified as making sense with the blockchain, but have not yet been added to the blockchain. Each node maintains its own copy of the mempool.

2. If miners cannot keep up with adding new transactions to the mempool, then the mempool grows.

3. If the mempool grows then transaction fees are likely to rise, because miners will prefer to take the transactions that have the higher fee to add to the blockchain.

[zookeeper]

1. A mempool is a data structure on the node of the btc network that stores unconfirmed btc transactions. Once miners sweep up the transactions in the mempool, they can then write them into the blockchain.

2. Then unconfirmed transactions will pile up in the mempool and cause congestion.

3. It allows miners to prioritize unconfirmed transactions that are associated with higher fees.

[Capt_caveman]

1. What is the mempool?
   a mempool is temporary data storage construct that contains the list of unconfirmed transactions. It is reconciled/refreshed after a blockchain commit (every 10 min)
2. What happens if the miners can’t keep up with the rate of the new transaction?
   The mempool(s) increase
3. How does a growing mempool effect transaction fees?
   Mempool growth is caused by unconfirmed transactions. The incentive (fees, or sats/Byte) must be increased

[Nils2022]

1 It is the pool of transactions that have yet to be verified

2. That would make the transaction times longer and incentivise people to pay higher fees

3. Because if your fee is too low you will be bottom priority to the miners, and it will take longer.