Homework on Mempool - Questions

Blockchain and Bitcoin 101
#3752

1.The mempool is a transaction waiting list to get validated by the nodes
2.The mempool gets congested
3.The fees grow and whoever pays a higher fees goes trough first

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#3753

  1. The mempool is a database of all the unconfirmed transactions.

  2. If miners can’t keep up with the rate of new transactions the transactions go to the mempool, and will take longer to get confirmed.

  3. A growing mempool will make the fees go higher.

1 Like
#3754

  1. The mempool is a collection of transactions that haven’t been picked up by a miner and added the the blockchain yet.

  2. The size of the mempool increases.

  3. They would increase to incentivize miners to add them.

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#3755

  1. Mempool holds pending transactions before approved, thus unconfirmed.

  2. Fee structure is in place and priority is given to those transactions that have selected greater fees.

  3. Priority is given to greater fee payer.

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#3756

  1. the mempool is a “pool” of unconfirmed transactions

  2. The volume of transactions in the mempool grows

  3. transaction fees will increase as users outbid one another.

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#3757

1.The mempool is where unconfirmed transactions sit until picked up by a miner.
2.The mempool will grow
3. Higher transaction fees

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#3758
  1. What is the mempool?
    A list of unconfirmed transactions transmitted to nodes waiting for a miner to add it to a block
  2. What happens if the miners can’t keep up with the rate of the new transaction?
    Transaction time increases also the mempool becomes larger
  3. How does a growing mempool effect transaction fees?
    The larger the mempool or unconfirmed transactions the higher the fee as people will pay higher fees to get transactions through quicker and miners will choose the higher transaction fee when confirming and adding to blocks
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#3759

What is the mempool?

It is a computer node’s area of memory set aside to place unconfirmed transactions and their fees. They expand and contract every 10 minutes since block chain miners use this interval to create new blocks.

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

Transaction throughput drops. Mempools increase in size, transaction processing is less efficient. The number of unconfirmed transactions rises. Transactions Fees rise up.

How does a growing mempool effect transaction fees?

Transaction fees increase, those with the highest fees are preferenced by the miners and added to the blockchain first.

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#3760

  1. Mempool is a place where the transaction is waiting to get pick by miner and get verified. Mempool consist of all the transactions that are unconfirmed and make sense to a particular node.

  2. If the miners can’t keep up with the transaction feed, the transactions will be waiting in a mempool and no of transaction will keep on increasing.

  3. Miners are incentives for verifying the transaction means if the no of transactions is high, means the transactions in mempool are also high. That is when fees structured comes in place transactions with high fees are verified first and that is how growing mempool effect fees.

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#3761

  1. What is the mempool?
    an area of memory in each node/miner where plausible but yet to be mined transactions are kept until the miners take them and add them into a block to be added to the chain

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

  3. How does a growing mempool effect transaction fees?
    it makes them go higher

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#3762

  1. A mempool is a node’s mechanism for storing information on unconfirmed transactions.

  2. Mempool increases in size and transaction times are longer.

  3. Transaction fees would increase

1 Like
#3763

  1. A store where all transactions are kept, waiting to be confirmed by a miner.

  2. The Mempool grows bigger and transactions will take longer time to be confirmed.

  3. They will rise

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#3764
  1. What is the mempool?

Mempool is where all uncomfirmed transactions on bitcoin network wait before they are picked up and added into blocks.

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

Transactions will be jammed and it will take a long time to get transactions approved.

  1. How does a growing mempool effect transaction fees?

The fees will go higher.

1 Like
#3765

  1. a mempool is a list of unconfirmed transactions on a particular node.

  2. The mempool will have a backlog of transactions and transaction times may slow and fees may increase.

  3. Fees increase if the mempool grows larger because there will be more competition for transactions to be confirmed in the current node by miners.

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#3766

A mempool is a pool of unconfirmed transactions being sent around shared by all the nodes on the network. These unconfirmed transactions are waiting to be picked up by miners to be put into a block and added to the blockchain (confirmed)

The mempool will grow in size.

They go up as people will increase their fees in order to have their transactions picked up by the miners then it snowballs.

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#3767

  1. its a list of all unconfirmed TXs

  2. the mempool is grwing larger ans the TX-time increases

  3. If there are more small TXs then the Fees rises

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#3768

  1. What is the mempool?
    Each node has its own mempool. When I make a transcations, it is verified by nodes. When a node verifiy a transactions, the transcation is put in its mempool, until a miner puts it on block on a blockchain in order to confirm the transaction.

  2. What happens if the miners can’t keep up with the rate of the new transaction?
    The mempools wil grow in size, meaning that the transactions times are lower.

  3. How does a growing mempool effect transaction fees?
    A growing mempool will cause higher transaction feed because of competition to get the transactions done quicker.

2 Likes
#3769
  1. The mempool is a list of unconfirmed transactions in a node. Transactions are held there until they are placed on a block by miners. Once a block is appended to the blockchain, all the transactions in that block are confirmed and removed from the mempool.
  2. If miners can’t keep up with the rate of new transactions, the mempool will increase in size.
  3. Growing mempools leads to higher transaction fees because miners will confirm the transactions with the highest fees first.
2 Likes
#3770

1-) What is the mempool?
= When a tx is verified by the node, it is send to the mempool that stores all unconfirmed tx.

2-) What happens if the miners can’t keep up with the rate of the new transaction?
= It will increase the list of unconfirmed tx within the mempool and then the miners will select the tx with the highest fees.

3-) How does a growing mempool effect transaction fees?
= It increases the tx fees as miners will prioritize tx with the highest fees for higher incentives.

2 Likes
#3771
  1. What is the mempool?
    all unconformed transaction
  2. What happens if the miners can’t keep up with the rate of the new transaction?
    backlog builds
  3. How does a growing mempool effect transaction fees?
    goes up
3 Likes