Homework on Mempool - Questions

[AdamP]

• What is the mempool?
  The Mempool is the “waiting area” for the transactions that each Node maintains for itself.
• What happens if the miners can’t keep up with the rate of the new transaction?
  The number of unconfirmed transactions will increase in the mempool.
• How does a growing mempool effect transaction fees?
  The TX fees will increase.

[Eric_Pezzulo]

1. The Mempool is a data structure where unconfirmed transactions go to wait to be mined and confirmed.

2. If miners can’t keep up with the rate of new transactions, then transactions will either take longer to be confirmed.

3. A growing mempool will make the fees increase because there is a higher demand for transactions to be confirmed by the miners.

[Leedecker425]

1. the mempool is a list of unconfirmed transactions on the way to get picked up by a miner and get stored in a block
2. when the miners cant keep up the mempool grows larger and larger and there are longer and longer transaction times
3. If the mempool is already big or full it will just continue to get more and more backed up which will create higher transaction fees because the miners still need to sort through all the transactions and put them into blocks

[sascha_z]

1. mempool is the list of all legit yet not completed transactions.

2. it reduces the speed of transactions, as the backlog grows.

3. fees are rising.

[AndrewM]

1. Mempool is a where nodes hold transactions waiting to be added to the blockchain.
2. The mempool will grow in size.
3. A growing mempool increases transaction fees

[Chema]

1. What is the mempool?
   A list if unconfirmed transactions

2. What happens if the miners can’t keep up with the rate of the new transaction?
   The transactions pool will increase

3. How does a growing mempool effect transaction fees?
   The fees will increase.

[N_K]

1. What is the mempool? - A list of unconfirmed transactions.
2. What happens if the miners can’t keep up with the rate of the new transaction? - Mempool is growing.
3. How does a growing mempool effect transaction fees? - Miners pick a transaction with the highest fee, so fees go up.

[Lino]

What is the mempool?
*Mempools are data structures within nodes that hold unconfirmed transactions that need to be verified by a miner.

What happens if the miners can’t keep up with the rate of the new transaction?
*The time that they will get to take longer to confirm and added to the blockchain and in some circumstances even push the transaction back enough times that it will be kicked out of the mempool and funds returned.

How does a growing mempool effect transaction fees?
*Larger mempools indicate there are more transactions for the miner to choose from, which in turn causes the transaction fees to increase or slow down the rate at which small fee transactions are mined. Because miners will go for transactions with higher fees first this push small fee transactions towards the bottom and at times even the possibility of not being confirmed at all when mempools are crowded. In such instances it’s possible you’ll need to offer a premium to have low fee transactions confirmed sooner or at all.

[oconnortj]

1. What is the mempool?
   contains unconfirmed transactions

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

3. How does a growing mempool effect transaction fees?
   Transaction fees will increase

[Arty]

What is the mempool?
where all the transaction ,which need to be confirmed, are waiting in line.

What happens if the miners can’t keep up with the rate of the new transaction?
the waitinglist for the transaction will be longer

How does a growing mempool effect transaction fees?
the transaction fee is getting higher

[NumaMisfit]

1. List of all unconfirmed transactions.

2. Time to confirm transaction is longer and mempool grows in size.

3. With growing mempool is fee for transaction more competitive and its getting higher, because miners are picking up transactions with higher fees (higher satoshi/byte).

[tekivagy]

1. What is the mempool?
   Basically a temporary space where those still unspent transactions take place which the nodes considered valid ones.
2. What happens if the miners can’t keep up with the rate of the new transaction?
   Transaction time become higher, because transactions can be stuck in the mempool until a miner takes it to the next block.
3. How does a growing mempool effect transaction fees?
   Fees become higher because the miners will take those transactions which give higher fee to the miners. Simply it is a race for the next block.

[lance]

1. The mempool is where new tx’s are sent by the nodes once they determine the tx is valid.

2. Then that tx isn’t included in their new block. The miners will always favor tx’s with the highest fees.

3. Rates tend to automatically increase in order to bring more balance to the mempool.

[Rick33]

1. The mempool is a collection of all the transactions that are waiting to be verified by miners to add in the new block.
2. The transaction won’t be validated, the transaction with the highest fees are prioritized.
3. The fees will become higher when the mempool grows.

[Kevin_G]

a mempool is a data structure of unconfirmed transactions each node has.

if miners can’t keep up with the rate of new transactions pool will grow larger in size and and it will take longer for transactions to be confirmed.

growing mempools can cause confirmed transaction times to be slower and will also cause fees to be higher

[HTBH]

1. What is the mempool?
   The Mempool is a place where unconfirmed transactions are waiting form miners to pick them up and add to the blockchain

2. What happens if the miners can’t keep up with the rate of the new transaction?
   The mempool fills up and we have longer transactions and higher fees

3. How does a growing mempool effect transaction fees?
   increasing transactions fees

[joannajoulia]

1. Mempool is a storage of unconfirmed transactions that are waiting to be added to the blockchain by miners. The bigger the transaction in bites the faster might be added to the blockchain.
2. Processing time for the transaction increases.
3. Fees are increasing because miners will pick the transactions with the higher fees as the first ones to be added to the block.

[AryanDutta]

1.Mempool is the list of the unconfirmed transaction until picked by a miner/node.

2.Mempool piles up the transaction, so the fee goes up

3.Growing mempool leads to larger fees

[theaussie86]

1. The mempool is a list of transactions that haven’t been put in a block yet.

2. The transactions are being queued in the backlog of the miner.

3. The fees go up.

[TimInnes]

1. The mempool is where all the unconfirmed transactions are held in each node.

2. The time to confirm a transaction will be increased.

3. The transaction fees will go up as more people opt to ‘skip the queue’ by choosing to pay a higher fee. This will increase the cost and the time it takes to validate transactions