Homework on Mempool - Questions

Blockchain and Bitcoin 101
#3972
  1. What is the mempool?
  • the list of transactions that have not yet been added to a new block
  1. What happens if the miners can’t keep up with the rate of the new transaction?
  • the mempool grows with a larger list of transaction
  1. How does a growing mempool effect transaction fees?
  • transaction fees go up to incentivize miners to create new blocks
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#3973

  1. What is the mempool?
    A mempool is a list of all transactions that are pending.

  2. What happens if the miners can’t keep up with the rate of the new transaction?
    Mempool continues to grow and can increase in fees.

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

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#3974
  1. Mempool is a list of unconfirmed transactions waiting to be added to the block.
  2. Mempool’s size is growing with more transaction waiting.
  3. Growing mempool tends to increase the transaction fee since the one set with higher fee will be prioritized. However, since the transaction fee is increasing -> more miners joining for incentives -> more transactions will be added -> the fee is likely to go lower?
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#3975
  1. What is the mempool?

A node’s storage space for holding unconfirmed transactions.

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

The mempool grows larger and transaction times increase, especially if your transaction is accompanied by a lower fee.

  1. How does a growing mempool affect transaction fees?

Miners go after higher fees, therefore, the fees will increase to motivate miners to pick transactions and add them to the block.

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#3976
  1. A mempool acts like a waiting room where information about unconfirmed transactions is stored.
  2. Mempool grows bigger and required longer transaction times.
  3. Transaction fees increase with growing mempool.
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#3977

  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?
    The backlog of unconfirmed transactions in the mempool grows

  3. How does a growing mempool effect transaction fees?
    Transactions will propose higher fees

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#3978

  1. What is the mempool?
    This is the data structure of the transactions waiting to be added to the Block Chain.

  2. What happens if the miners can’t keep up with the rate of the new transaction?
    The mempool will be growing, transaction confirmation time will be longer and fees will rise too.

  3. How does a growing mempool effect transaction fees?
    The bigger the mempool, the higher the transaction fees. That is more profitable for miners and the transactions are completed faster.

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#3979

  1. What is the mempool?
    The mempool is, where all the transactions wait to be confirmed by the network (nodes)

  2. What happens if the miners can’t keep up with the rate of the new transaction? will result in longer average confirmation time.

  3. How does a growing mempool effect transaction fees? Transaction fees increase. Because everybody wants to get there transaction approved first

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#3980

  1. The mempool is the datastructure that each node has of uncomfirmed transactions.

  2. A backlog will develop, (think traffic buildup) and the mempool gets fuller of unconfirmed transactions. A larger mempool will result in longer time to process unconfirmed transactions.

  3. A growing mempool will cause transaction fees to increase and entice miners to pick those transactions to add to the block.

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#3981

  1. What is the mempool?

    The mempool is a list of unconfirmed transactions waiting for miner to pick them up, and insert them
    in the blockchain.

  2. 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 list of transactions in the mempool, the list of unconfirmed
    transactions will grow larger, resulting in a bigger confirmation time.

  3. How does a growing mempool effect transaction fees?

    The growing of the mempool affects the transaction fees, because people will need to compete for
    space in the block, therefore it may require larger bids to make the transaction go through.

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#3982
  1. What is the mempool? A data structure that each nobe has which contains a list of unconfirmed transactions. These transactions are moved into the mempool by the nobes and removed from the mempool by miners who then places transactions in the blocks.
  2. What happens if the miners can’t keep up with the rate of the new transaction? The mempool will continue to increase in size as nobes continue to add unconfirmed transactions. Miners on the other hand will continue to be more selective towards transactions with higher fees as the mempool.
  3. How does a growing mempool effect transaction fees? Since there is an economic incentive for mining, miners are going to gravitate to transactions with higher fees. Growing mempools encourages higher fees in order to get transactions processed quicker.
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#3983

  1. What is the mempool?
    Record of unconfirmed transactions

  2. What happens if the miners can’t keep up with the rate of the new transaction?
    The mempool will grow in size until the transactions can be added to the blockchain by the miners.

  3. How does a growing mempool effect transaction fees?
    people will have pay more to get their transactions processed. Miners can choose to mine transactions with higher fees

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#3984

1. What is the mempool?
The mempool is a list of unconfirmed transactions that is held until it makes sense/validated to a particular node.

2. What happens if the miners can’t keep up with the rate of the new transaction?
If the miners cannot keep up with the rate of new transactions, the mempool is backlogged and the rate of transactions slow down. There will be a delay in UTXOs transactions and customers will have to wait in order send or receive funds.

3. How does a growing mempool effect transaction fees?
The growing mempool increases the transaction fees because miners pick and choose the transaction that will need less space/hard-drive storage and make them the most profit. If the transaction requires more hard-drive space, it will take up more space of the node’s limited block and thereby will require more satoshis per byte that the transaction takes.

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#3985

  1. What is the mempool?
    a database of unconfirmed transactions that make sense.

  2. What happens if the miners can’t keep up with the rate of the new transaction?
    if the miners cant keep up, the mempool becomes larger.

  3. How does a growing mempool effect transaction fees?
    wallets will offer higher fees in order to get their transaction confirmed by a miner.

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#3986
  1. What is the mempool?
    a count of all the transactions
  2. What happens if the miners can’t keep up with the rate of the new transaction?
    the mempool grows larger and the transaction times get bigger as well.
  3. How does a growing mempool effect transaction fees?
    competition and size of mempool increases the transaction fees.
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#3987
  1. list of unconfirmed transactions
  2. mempool will just grow in size
  3. It rises transaciton fees making it so miners are offered more to get the transaction completed
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#3988
  1. What is the mempool?
    It is a place where all unconfermed transactions are being placed afrer being send out from wallets. Each nod has a mempool so does do each miner. When transactions are confirmed which means they are added to blockchain they are deleted from mempool.
  2. What happens if the miners can’t keep up with the rate of the new transaction?
    There is a backlog and long waiting list and miners start choosing transactions with biggest fees that later lands in their wallets
  3. How does a growing mempool effect transaction fees?
    The fees go up because of the competition, when you offer to pay higher fee you got more chance to be prioritised
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#3989

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

If the miners can’t keep up with the rate of new transactions then the mempool grows larger as the transactions are piled up resulting in longer transaction times.

Transaction fees increases with a larger mempool because of the competition to get the transaction to the next block. Larger fees are offered to miners to get the transaction picked first.

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#3990
  1. It is all valid transactions waiting to be confirmed by the bitcoin network.
  2. This transactions will remain in the mempool and over time will return to the owners wallets.
  3. When there is a growing mempool, miners pick transactions with higher fees.
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#3991

  1. The mempool is where transactions go when first submitted to the network. The mempool stores these transactions until a miner adds them to a block.

  2. If miners can’t keep up with the number of transactions then the mempool will continue to store more and more unwritten transactions.

  3. When the mempool continues to have a larger and larger number of transactions piling up the fees will go up as well. This is because the miners will take the transaction with the highest fee. So if there is a lot of transactions in the mempool there is more competition to get transactions to go through and the fees will reflect this.

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