Homework on Mempool - Questions

  1. The mempool is where all unconfirmed transactions are stored before being placed on the blockchain.
  2. Miners will select those with the highest transaction fees to increase their personal payout.
  3. The larger than mempool, the larger the transaction fees will become because each transaction has to compete to be chosen by the miners.
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  1. What is the mempool?
    Mempool list of unconfirmed transactions

  2. What happens if the miners can’t keep up with the rate of the new transaction?
    Mining process will take more time to complete

  3. How does a growing mempool effect transaction fees?
    Mempool growth is directly proportional to transaction fees as more inputs/outputs will levy fees

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  1. Mempool is a database that nodes store, which lists all the unconfirmed transactions.

  2. If miners can’t keep up, then the mempool gets larger. This causes transaction time and fees to increase as well.

  3. A growing mempool will increase transaction fees because miners are incentivized to confirm transactions with the highest fees.

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1.It’s a data structure that each node has to verify which transactions are confirmed and unconfirmed.
2. The mempool grows bigger and creates longer transaction times.
3.It affects the transaction fee time. By doing that, miners make larger transaction fees a priority.

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  1. The mempool is list of all unconfirmed transactions on node waiting to be mined by miners.
  2. When miners can’t keep up with the rate then the mempool grows and transaction time is getting longer.
  3. A growing mempool also increases transaction fees because miners will first pick transactions with higher fees.
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  1. A host for unconfirmed transactions waiting to be mined
  2. The Mempool will increase along with transaction fees and delays in processing
  3. Miners will also be attracted to higher fee transactions first therefore fees will increase.
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  1. Mempool is a record of unconfirmed transactions.
  2. The mempool gets bigger and it prioritises transactions with higher fees.
  3. A growing mempool increases transaction fees because miners are incentived to choose transactions that offer them the highest fee in return for appending the transaction onto the blockchain.
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1.) The mempool stores unconfirmed transactions
2.) More unconfirmed transactions are added and the ones with high fees are added to the block first
3.) Transaction fees will be higher as the mempool grows

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  1. I would say it is short for Memory Pool, since this remembers and holds all unconfirmed transactions waiting to be mined or waiting to be sent to the miner.
  2. the fees will go up
  3. the price will increase since people will want to have their transaction completed faster and with more priority.
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  1. Mempool is pool of unconfirmed transactions.

  2. .It will lead to increase in transaction fees

  3. Because of high competion due to growing number of uncomfirmed transaction, only transactions that offers the highest fee will be selected first and added to the block

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  1. What is the mempool?
    The mempool is where all unconfirmed transactions are stored before picked up by a miner and added to the blockchain.

  2. What happens if the miners can’t keep up with the rate of the new transaction?
    The mempool becomes inflated with unconfirmed transactions.

  3. How does a growing mempool effect transaction fees?
    Fees are increased to meet demand and ensure timely confirmation.

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1- It is a pool with unconfirmed transactions waiting to be confirmed.

2- The number of unconfirmed transaction is growing as the timeframe.

3- The demand is growing so the transaction fee.

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  1. The mempool is basically a waiting area for transactions to be added to blocks.

  2. The mempool will fill up with transactions waiting to be added to a block.

  3. Fees will begin to rise because people are willing pay more to have their transaction added to the next block and miners are financially incentivized to add the transactions with the highest fees.

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  1. Mempool is a data structure where each node holds/has unconfirmed tranactions that are waiting to be confirmed by the miners on the network. (like a waiting room) and need to be added to blocks.
  2. Mempool will grow larger/ number of uncofirmed transactions will be bigger. This will cause longer transaction times. The network will be more congested.
  3. Transaction fees will rise / be more expensive. Transactions with higher fee will get completed faster and will have more priority to be added to the block over transactions with lower fee.
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  1. The mempool is a structure that holds the transactions that are not yet confirmed by the miners and ultimately added to the block.
  2. Miners will add the txs with higher fees first.
  3. A growing mempool will drive the tx fees up.
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  1. What is the mempool?
    List of all unconfirmed transactions.

  2. What happens if the miners can’t keep up with the rate of the new transaction?
    Mempool file will increase and tx fees might increase as well.

  3. How does a growing mempool effect transaction fees?
    Whoever pay larger fee his transaction will get priority over transaction with smaller fees. Fee is calculated per Byte so smaller transaction in Bytes will have smaller fees compare to larger transactions build from multiple UTXOs even if the value in BTC is smaller.

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  1. What is the mempool?
    A list of pending Transactions every node holds

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

  3. How does a growing mempool effect transaction fees?
    Fees will get more expensive as the

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What is the mempool?

Is a place where the nodes store the unconfirmed transactions, waiting for a miner to grab it and finally put it in the blockchain.

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 the new transaction, the mempool will grow bigger and bigger, making the TXs fees increase

How does a growing mempool effect transaction fees?

A bigger mempool will make the transaction fees cost more. This is because the miners have financial incentives to put the TXs into the blocks, and therefore they will choose the TXs with the higher fees. As mempool increase, more unconfirmed transactions there are, and so you need to set a higher fee to get your TX faster.

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  1. What is the mempool?

All transactions that are unconfirmed and make sense to the nodes are kept in the mempool until they are confirmed by miners.

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

This creates larger mempools and slows down transaction times.

  1. How does a growing mempool effect transaction fees?

Transaction fees increase because there is more competition to get added to the next block.

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  1. What is the mempool?
    R:. The Mempool is a list of all the unconfirmed Tx.

  2. What happens if the miners can’t keep up with the rate of the new transaction?
    R:.I don´t think this was on the lecture but I assume they will choose the Txs with the higher fee and leave the lower fees waiting… this will make the transaction stuck untill the mempool is less populated.

  3. How does a growing mempool effect transaction fees?
    R:. Like I replied on the second question, the miners will choose the Txs with the higher fees, this means if you want your tx to go faster you need to pay higher fees.

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