Homework on Mempool - Questions

Blockchain and Bitcoin 101
#4092

  • What is the mempool?
    The mempool is a waiting room for miners to collect unconfirmed transactions.

  • What happens if the miners can’t keep up with the rate of the new transaction?
    All transactions are longer creating traffic for your tranactions to be confirmed. Miners prioritise transactions as they are incentivised by higher fees.

  • How does a growing mempool effect transaction fees?
    A minimum fee is then set for all transactions to be initiated.

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#4093

1-Mempool is simply where unconfirmed transactions are held.
2- Mempool grows and there beco es a backlog and potential slow down
3-Causes an increase in fees

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#4094
  1. Is a virtual pool that contains all the unconfirmed transactions waiting to be mined.
  2. The mempool will increase in size.
  3. Fees would increase, as more people would be interested in fast transactions.
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#4095
  1. What is the mempool?

A mempool is a list of unconfirmed transactions.

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

The mempool will grow in size.

  1. How does a growing mempool effect transaction fees?

Transaction fees increase with the larger mempool. Minors put the higher fee transactions on a block first.

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#4096

1.What is the mempool?

The mempool is the list of unconfirmed transaction waiting to be confirm by miners.

  1. What happens if the miners cant keep up with the rate of the new transaction?

The transaction waiting to be confirm keep growing and result in a longer time of confirmation.

  1. How does a growing mempool effect transaction fees?

Higher fee transactions get prioritized. So fee goes up.

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#4097
  1. All unconfirmed transactions that follow the protocol and is stored on nodes.
  2. They choose the transactions with highest fees and ones that are “simpler”(less satoshis/b)
  3. The size of fees increses correspondingly.
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#4098

  1. A Mempool is a list of validated, unconfirmed transactions on the nodes waiting on confirmation from the miners.

  2. If the miners can’t keep up with the rate of new tranactions the size of the mempool grows causing a slow down in transaction times and higher fees.

  3. Transaction fees are effected by a growing mempool because the larger the mempool gets the longer it takes the miners to confrim the transactions causing you to have to pay higher fees to the miners so that they will select your tranaction.

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#4099

What is the mempool?

A mempool is a data structure located on each node of the blockchain network which holds a list of all unconfirmed transactions.

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

If miners are unable to keep up with the rate of the new transaction it will look for other unconfirmed transactions in the mempool that they are able to include in the block, effectively moving the new transaction lower on the list.

How does a growing mempool effect transaction fees?

There is a direct correlation between the size of the mempool and transaction fees. The larger the mempool, the higher the fee.

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#4100

1.The mempool holds unconfirmed transactions.

  1. Mempool will grow in size and lower transactions fees will take the longest to be added
    to the blockchain.

3.fees will increase

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#4101
  1. A mempool is a list of all transactions.
  2. Mempool builds a backlog which leads to longer transactions times.
  3. This is driven by the mempool market. Those with higher fees get transacted quicker.
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#4102
  1. The mempool stores a list of transactions
  2. The mempool gets bigger, grows in size
  3. A growing mempool would probably push transaction fees higher.
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#4103

1/ It is a data structure that each node has, with unconfirmed transactions
2/ The mempool will grown, The transactions take longer to confirm.
3/ due to high fees. The miners will try to get to transaction with the highest fees and then added to next block

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#4104

Homework on Mempool

  1. It is a list of unconfirmed transactions. When transaction is confimed, it is removed from the mempool.

  2. The mempool becomes larger.

  3. Transaction fees become larger because of the competition between people who want their transaction to get confirmed. Confirmation becomes more likely if person bids a higher fee because miners will more likely validate those transactions that make them more money.

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#4105

MEMPOOL

  1. What is the mempool?
    A: The data store particular to each node where unconfirmed transactions are held until eventually processed.

  2. What happens if the miners can’t keep up with the rate of the new transaction?
    A: The number of unconfirmed fees in the mempool will likely keep increasing until the rate of processing unconfirmed transactions stabilises.

  3. How does a growing mempool effect transaction fees?
    A: Generally it will result in increased transaction fees for users, as miners are more than likely to select unconfirmed transactions that offer higher rewards than unconfirmed transactions offering a lower rate of compensation, with the knock on effect being that users will need to increase the fees they’re willing to pay in order to get their transactions processed in a timely manner.

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#4106

  1. A mempool is where all TX’s are stored awaiting to be appended to the block. Each node has a list of TX’s as well as the miner, who will then check the TX per byte and if sufficient Satoshi in relation to bit size is profitable for the miner, it is then added to the block.

  2. If the miner cant keep up with the rate of the new transaction then it may be appended to next block.

  3. A growing mempool will lead to or fees being increased to accommadate excess traffic.

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#4107

  1. The mempool is the place that unconfirmed transactions get stored until the transactions get picked up by miners. Each node has its own mempools.

  2. The mempool grows bigger.

  3. Transaction fees get higher because miners will pick a transaction with the highest fee first from the mempool.

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#4108
  1. What is the mempool?
    In the mempool are transactions
  2. What happens if the miners can’t keep up with the rate of the new transaction?
    The mempool will grow in size, and piles up with transactions
  3. How does a growing mempool effect transaction fees?
    If there are a lot of smaller transactions the fees will increase.
1 Like
#4109
  1. Mempool is the area on each node of unconfirmed transactions pending to be picked up by miners that then go into a new blockchain and become confirmed transactions.
  2. The Mempool gets larger and so do the fees to confirm the transactions.
  3. The simplest transactions will have the lowest fees, and the more complex the transsction the higher the transaction fee.
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#4110
  1. The mempool is transactions stored in nodes that haven’t been added to the chain of blocks.
  2. If miners can’t keep up with the rate of transactions the mempool volume will grow but the high fees would attract more miners, eventually lowering the mempool volume and reducing fees.
  3. Growing the mempool increase the transaction fee.
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#4111

Homework on Mempool - Questions

The mempool is a list of all unconfirmed transactions.

The mempool backlog will increase.

The amount of size and data that goes up, equals transaction fees going up.

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