Homework on Mempool - Questions

Blockchain and Bitcoin 101
#4472
  1. What is the mempool?
  • A special place in each node where unconfirmed transactions are stored until a miner adds it in a block.
  1. What happens if the miners can’t keep up with the rate of the new transaction?
  • Increases the traffic within the blockchain and mempools of each node grows at a rapid rate. There will be many transactions left unconfirmed and only the ones with high transaction fees are prioritized and processed.
  1. How does a growing mempool effect transaction fees?
  • Since the demand increases to process more transactions, transaction fees will increase as well
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#4473

  1. Mempool is a pool full of unconfirmed transactions.

  2. The mempool will pile more and more unconfirmed transactions.

  3. Transactions fees will increase.

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#4474
  1. What is the mempool?

The mempool is a list of all unconfirmed transactions (the nodes have) waiting for the miner to be added to the next block.

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

Mempool grows larger and there will be longer transaction times.

  1. How does a growing mempool effect transaction fees?

Higher transaction fees. The reason is that the miner is incentivized (see earlier chapters) and therefore will pick the transactions with highest fees first (he wants to make money!). This competition of getting a faster transaction leads to rising fees.

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#4475
  1. the mempool is on all nodes (including miners) the store of uncommitted transactions which identifies to that specific node (otherwise they are reject by the node).
  2. The mempool gets bigger while it prioritizes transactions with higher fees
  3. A growing mempool would probably push transaction fees higher.
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#4476
  1. Mempool is all the unconfirmed transactions are waiting for the next block to process.
  2. The mempool grows larger.
  3. The fees go up and you pay more if you want your transaction to be processed faster.
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#4477

  1. What is the mempool?
    Mempool consists of all the transactions that have occurred but have yet to be confirmed by miners & recorded to the blockchain.

  2. What happens if the miners can’t keep up with the rate of the new transaction?
    If miners cannot keep up with transactions then fees will rise, incentivizing more miners to enter the market.

  3. How does a growing mempool effect transaction fees?
    As the mempool grows, transaction fees rise to attract more miners to record the transactions to the blockchain.

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#4478

The Mempool is this database inside the blockchain where the unconfirmed transactions are store. Previously verify by another ledger.

The mempool as well as it their transaction time extends.

When there are many transactions waiting to be confirmed, the mainers will prioritize those with the higher fees

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#4479
  1. What is the mempool?

transaction waiting room.

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

fees go up, forcing a bid war for transaction throughput.

  1. How does a growing mempool effect transaction fees?

bid war for throughput

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#4480

1 - Mempool is like the waitting room for trasactions validation
2 - the wainting room ( Mempool) gets bigger and bigger
3 - as the Mempool gets bigger the fees get higher

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#4481
  1. What is the mempool?
    It is where unconfirmed transactions wait.
  2. What happens if the miners can’t keep up with the rate of the new transaction?
    The mempool will grow and the transaction times will increase.
  3. How does a growing mempool effect transaction fees?
    Larger fees come with a growing Mempool.
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#4482

1.a mempool is where nodes verify and store unconfirmed transactions ready to be picked up by miners to add to the blockchain.
2.the pool grows larger and transaction times take longer.
3.transactions with higher fees will be selected first by miners as they are driven by rewards to add to the next block in the blockchain.lower fee transactions will stay in the mempool much longer before being added to the blockchain.
Satoshi per bite

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#4483

What is the mempool?
When a transaction is broadcast to the network, each node will, in turn, receive that transaction, and if all looks well, the transaction will then be added into the mempool (a place where all transactions go unconfirmed until they have been picked up by a miner to be added to the next block).

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 new transaction rate, then the mempool will grow, resulting in greater transaction waiting times, particularly for those with lower fees attached to them.

How does a growing mempool effect transaction fees?
Transaction fees will become higher as the wait time increases. The miners will be incentivised to prioritise the transaction of those that offer a higher fee.

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#4484

1 . The Mempool is a pool of transactions that haven’t been confirmed. Each node has a copy of the Mempool.
2 . Backlog will be bigger.
3 . Growing Mempool will make the transaction fees higher because miners prioritize the ones with a higher fee. This can also lead to higher competition.

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#4485

What is the mempool? It is a statical chart of transactions pending to confirm.
What happens if the miners can’t keep up with the rate of the new transaction? It will take longer for a transaction to not be picked up by all nodes and be placed in their mempool.
How does a growing mempool effect transaction fees? Miners will pick the transaction with the highest fees first. Miners will also see how many satoshi they will get per byte that will occupy the block.

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#4486

1 A mempool is where information on unconfirmed transactions is stored. It acts as a waiting room for transactions that have not yet been included in a block.

2.If miners can’t keep up with the rate of the new transactions the transactions will start to pile on and get larger in size.

  1. as in 2. above and which results in the transactions that have a higher fees tend to get confirmed sooner, since miners are motivated by profits.
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#4487

  1. A mempool is a list of unconfirmed transaction in nodes on and across the network.

  2. The mempool will grow in size, causing the time it takes for the transaction the be confirmed to grow.

  3. Larger mempools causes fee on transaction to grow as it will take the miners longer to confirm the transaction.

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#4488

  1. The mempool is a storage area for unconfirmed transactions. Each node will have their own mempool.

  2. The mempool will just get larger and hold more transactions until they have been confirmed.

  3. Individuals will need to pay higher fees as miners are incentivised to confirm transactions with the higher sat/byte.

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#4489
  1. The mempool is the data structure of all the unconfirmed transactions. this is available to nodes and miners and miners will take from the mempool and add these transactions to their blocks.
  2. You can have congestion on the blockchain and higher fees.
  3. It increases fees as market participants pay more to have their transactions go through first.
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#4490

  1. The space where non-processed TX’s are recorded, therefore not included or validated for the blockchain. They can be located in one or a few nodes but remain unprocessed by the miner node that is the only one allowed to put them inside the network.

  2. They choose those TX’s that concentrate a higher amount of satoshi per bytes because it’s more profitable for miners. The fees for TX are calculated based on the number of inputs and outputs included in the order.

  3. It affects the transaction fees by prioritizing those transactions with higher fees. This means that TX’s with more ramifications or satoshis per byte would have better chances to be processed.

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#4491

  1. What is the mempool?
    Answer:
    Mempool is were the transactions are kept by the respective nodes and also by the miners as a node, before being taken by the miners to add to the blockchain.

  2. What happens if the miners can’t keep up with the rate of the new transaction?
    Answer:
    Then the transactions will stay longer in the mempool, the mempool will not be updated every 10minutes as such there will be delay in numerous transaction confirmations.

  3. How does a growing mempool effect transaction fees?
    Answer:
    Certainly that will tend to drive higher transactions fee as miners who usually prioritize higher transaction fee payers will focus more only on the once that pays higher, as such many will be force to offer higher than usual fee if their respective transactions must be added to the block.

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