Homework on Mempool - Questions

Blockchain and Bitcoin 101
#3872
  1. What is the mempool?
    It is where all the pending crypto transactions are stored
  2. What happens if the miners can’t keep up with the rate of the new transaction?
    The number of transactions in the mempool will increase
  3. How does a growing mempool effect transaction fees?
    Fees will increase to incentivise miners to add them to the blockchain
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#3873
  1. Mempool is a node’s list of unconfirmed transactions.
  2. If miners can’t keep up with the rate of new transactions, mempools will increase. Due to the larger number of unconfirmed transactions, there will be greater comeption amongst investors wanting their transaction in the next block.
  3. A growing mempool causes higher transaction fee’s because investors would be inclined to incentives miners to include their transaction on the next block.
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#3874

1. What is the mempool?
All the unconfirmed transactions, waiting to be mined.

2. What happens if the miners can’t keep up with the rate of the new transaction?
Wait times increase as the transactions back up.

3. How does a growing mempool effect transaction fees?
Priority goes to those who pay the highest fees.

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#3875

What is the mempool?
An active list of unconfirmed transactions, running on every node of the network.

What happens if the miners can’t keep up with the rate of the new transaction?
The mempool will grow, and transaction confirmation time will take longer

How does a growing mempool effect transaction fees?
It will increase fees as miners give higher priority to transactions with more fees.

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#3876

  1. A mempool is a list of unconfirmed transactions in nodes.

  2. If the miners can’t keep up with the rate of new transactions then the speed at which transactions are confirmed will decrease.

3.A growing mempool will cause the transactions fees to increase due miners being able to pick and choose what they want to mine.

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#3877

1.What is the mempool?:

The mempool is a data structure that holds a record of all unconfirmed transactions on the network.

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

The mempool will grow and so will waiting times and transaction fees

3.How does a growing mempool affect transaction fees?

A growing mempool increases leads to an increase in transaction fees

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#3878
  1. Mempool is a “pool” of unconfirmed transactions.
  2. The mempool grows.
  3. Growing mempool increases transaction fees.
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#3879
  1. What is the mempool?

The mempool is a place where unconfirmed transactions wait for a miner to pick them up to add to the next block.

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

If the miners can’t keep up with the rate then the mempool grows larger, there will be longer confirmation times and fees may have to increase in order to get a transaction processed in a timely manner.

  1. How does a growing mempool effect transaction fees?

The more it grows the higher will have to be the transaction fee in order to get a transaction processed in a timely manner.

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#3880

  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?

  4. Mempool is a list with all the TX that are waiting to be confirmed
    2.The TX will wait in the mempool
    3.Increased fees

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#3881

  1. mempool is all the transactions that have not been confirmed and added to the blockchain

  2. mempool grows larger and longer transaction times

  3. cost of fees increase, which encourages more miners to mine, which decreases mempool size

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#3882

  1. A place where unconfirmed transactions stores.

  2. The mempool grows. And the transaction time is longer.

  3. The fees goes up. The miners pick the transaction with the highest fees

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#3883

  1. The mempool is a list of all the unconfirmed UTXO’s kept by each node

  2. Then the mempool grows

  3. The fees will go up to attract more miners to clear the backlog

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#3884

  1. What is the mempool?
    the mempool is a list where unconfirmed transactions are stored until a miner confirms them

  2. What happens if the miners can’t keep up with the rate of the new transaction?
    If a miner can’t keep up with the new transactions, the mempool just grows, and it takes a long time for a transaction to be confirmed.

  3. How does a growing mempool effect transaction fees?
    Miners are monetarily incentivized to confirm transactions with high fees. basically to avoid a long wait time for a confirmation, opt to pay a higher fee. At times of high congestion, fees will go up as a result of that incentivization.

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#3885

  1. What is the mempool?
    A mempool are unconfirmed transactions

  2. What happens if the miners can’t keep up with the rate of the new transaction?
    They request the mempool for transactions from other nodes or its own mempool

  3. How does a growing mempool effect transaction fees?
    The larger in size the higher the transaction fee as you pay per byte.

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#3886
  1. the pool of unconfirmed transactions waiting to be confirmed by noobs
  2. it grows
  3. fee cost will decline
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#3887

What is the mempool?
A mempool is a collection space for unconfirmed transactions.

What happens if the miners can’t keep up with the rate of the new transaction?
The mempool just keeps growing until the transactions can be listed on the next available block on the blockchain. In result it takes a longer time for the transaction to be put on a block.

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

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#3888

  1. What is a mempool?
    A mempool is a data structure that can be found in every node, and it consists of unconfirmed transactions. ( A list of all transactions in that node that haven´t yet been confirmed )

  2. What happens if the miners can´t keep up with the rate of the new transaction?
    If miners can´t keep up with the rate of new transactions than mempools will become increasingly larger as the amount of unconfirmed transactions will grow.

3.How does a growing mempool affect transaction fees?
Transaction fees increase with the growing in size of mempools because of the competition it creates to get the transactions on the next block. Bigger fees are offered to miners to get their transactions picked first.

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#3889

What is the mempool?

list of all transactions. a place where unconfirmed transactions wait for a miner to pick them up to add to the next block.

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

mempool backlog builds and grows larger and there are longer transaction times.

How does a growing mempool effect transaction fees?

transaction fees go up. With a larger mempool the competition increases to get the transaction to the next block which results in larger fees.

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#3890

  1. What is the mempool?
    The mempool is the ‘waiting room’ for all unconfirmed transactiions on the BTC network.

  2. What happens if the miners can’t keep up with the rate of the new transaction?
    The mempool gets fuller and mining fees increase.

  3. How does a growing mempool effect transaction fees?
    Miners will pick transactions with higher fees.

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#3891

1.) When a wallet broadcasts a transaction to the Bitcoin network, it has to be put somewhere until it is confirmed (when a miner picks it up, adds it to a block, and appends it to the blockchain). The space where these unconfirmed transactions hang out while waiting for confirmation is known as the mempool. All nodes have their own copy of the mempool, but one nodes copy might look a little different than anothers. This is normal, and happens because some transactions may not have propagated to the entire network yet.

2.) If the miners aren’t able to keep up with the rate of new transactions, the mempool will grow in size. This will cause transaction confirmations to take longer.

3.) A growing mempool will raise transaction fees. This is because there is a maximum block size. As a result, transaction fees are calculated by the byte; a transaction with many inputs or outputs will use more space than a transaction with only one input and one output. The larger the transaction (in bytes, not in BTC), the higher the fee will be, because larger transactions use more of a block’s valuable space. Because miners are financially incentivized, this causes them to prioritize transactions that pay a high fee; the more you’re willing to pay in fees, the quicker your transaction will be confirmed.

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