Homework on Mempool - Questions

Blockchain and Bitcoin 101
#4352
  1. cache on each node for unconfirmed transactions
  2. It stays in mempool until confirmed
  3. miners want biggest fees
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#4353
  1. Mempool consists of all pending transactions
  2. it will create backlogs and an increasing number of pending transactions
  3. as miners prioritize transactions with a higher fee, a new transaction will have higher fees so that their transactions get completed. with this cycle of completing transactions quickly, the fees will increase.
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#4354
  1. What is the mempool?

A list of unconfirmed transactions.

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

They will only put transactions into the blocks with higher fees. The mempool grows as a result of this.

  1. How does a growing mempool effect transaction fees?

It makes the transactions more competitive, if your transaction fee is too low it will take a long time before it is put into a block and thus confirmed.

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#4355

  1. The mempool is where transactions reside on the network before being confirmed on the blockchain by miners. The mempool can differ from node to node as it propagates through the network.

  2. As the mempool grows so does confirmation times.

  3. Transaction fees increase as miner prioritize mempool transactions by fee size.

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#4356

The mempool is a list of all bitcoin transactions
theres a backlog (slowdown) of transactions
They raise prices per block

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#4357

raise transaction fee.

#4358

1 – Mempool where transaction wait to be confirmed and put into a block by a miner.

2 – The Mempool grows in size and the confirmation times for transactions also increase.

3 – With a growing Mempool the number of transactions waiting to be confirmed also increase. Miners will prioritize transactions with the highest fees, since it increases their revenue, and develop a transaction fee competition in order to get transactions confirmed faster/with priority.

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#4359
  1. The mempool is the datastrucrure within each node, where unconfirmed transactions are stored until they are picked up by miners and appended to the blockchain
  2. Miners will pick up transactions with higher fees based on block’s size availability (so transaction times will be slower, especially for trans. with lowest fees)
  3. Transaction fees will increase due to higher competitivity
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#4360

  1. The mempool is the collection of transactions that have not yet been confirmed by miners.

  2. The mempool will grow in size and the transaction times will be longer.

  3. A growing mempool will increase transaction fees as confirmation times take longer. As the supply of confirmed transactions relative to the number of total transactions goes down, the demand for confirmations and therefore the cost goes up.

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#4361
  1. Mempool is list of unconfirmed transactions stored by nodes until miner picks them up and adds them next block mined.
  2. If miners cannot keep up with the rate of new unconfirmed transactions the transaction times and fees are likely to increase due to the congestion on the network.
  3. Fees will go up as the mempool grows larger to incentivize miners to add their transaction to the next block over someone paying a lesser fee.
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#4362

  1. Mempools are unconfirmed Transactions that have yet to be confirmed and added to the blockchain.

  2. If miners can’t keep up with the transactions going in then they are sent to the mempool, the more transactions in the mempool the greater the time it is to confirm those transactions.

  3. A growing mempool will effect the fees by miners picking the largest fee to confrim a transaction thus raising the overall rate of the fee needed to complete a transaction.

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#4363

  1. The mempool is where unconfirmed transactions are collated for a miner to confirm the transaction.

  2. Backlog of transactions and potential increase in fees

  3. a growing mempool would mean longer transaction times meaning the higher fee transactions would be prioritised and as a lot of people would be wanting their transactions to go through quickly more people will be willing to pay a higher fee thus increasing the fee size with a growing mempool

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#4364
  1. What is the mempool? Data structure list of unconfirmed transactions
  2. What happens if the miners can’t keep up with the rate of the new transaction? the number of unconfirmed transactions grows in the Mempool. Miners choose highest transaction fees first.
  3. How does a growing mempool effect transaction fees? Miners choose transactions with highest fees first to confirm and upend on to the blockchain. Creates competition with users causing fees to increase to have miners confirm.
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#4365
  1. The mempool is a list of unconfirmed trnsactions that all Bitcoin nodes hold.
  2. The mempool and the number of unconfirmed transactions will grow.
  3. The transaction fees will increase if the mempool grows.
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#4366

  1. What is a mempool?
    The mempool is a list of unconfirmed transactions on the network nodes. Miners will select transactions, preferably with higher fees and place into a block to be mined and confirmed.

  2. What happens if the miners can’t keep up with the rate of transactions?
    The mempool always fluctuates in size but with heavier traffic miners will select transactions with higher fee applied.

  3. How does a growing mempool effect transaction fees?
    Fees will naturally increase in cost. Times will also increase for lower fee transactions.

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#4367

1.) Mempool is the data structure for nodes with unconfirmed transactions
2.) They will prioritize another with fewer inputs and outputs
3.) Miners will prioritize blocks with higher fees as a result of a higher Mempool

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#4368
  • What is the mempool?

Is a list of pending transactions

  • What happens if the miners can’t keep up with the rate of the new transaction?
    Well it will take longer time to make a transaction.

  • How does a growing mempool effect transaction fees?

the higher you put your fees the faster a transaction will happen meaning that the fees will rise because of the pressure from transactions.

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#4369
  1. What is the mempool?

The mempool is where transactions are stored within each node before it gets chosen by a miner to validate onto the blockchain.

  1. 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. Mining fees will go up to incentivise miners to select and validate the transaction onto the blockchain. Transactions that don’t pay enough fee stay in the mempool longer.

  1. How does a growing mempool effect transaction fees?

An increase in the number of transactions in the mempool will cause an increase in transaction fees. Higher fees incentives the miners to choose transactions that offer the highest fee and will delay mining the lower fees.

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#4370
  1. What is the mempool?

The mempool consists of all current waiting outputs (unconfirmed transactions) and the fees put forward measured in sat/byte.
2. What happens if the miners can’t keep up with the rate of the new transaction?
Miners will pick transactions that are higher in fees or sat/byte in order to create the most value per block.
3. How does a growing mempool effect transaction fees?
The bigger the mempool, the more competition there is. If the mempool is congested, fees will be higher as people will want to be included in the next block.

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#4371

A mempool is a database that each node stores, consisting of transactions that have been validated, but haven’t been added to a block by a miner as yet. It’s a collection of Unconfirmed transactions.

If the amount of new unconfirmed transactions surpass the rate at which miners add them to blocks, the network will experience longer transaction times and increased fees as competition increases.

The larger the mempool, the higher the transaction fees are, as competition to be selected is higher.

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