Homework on Mempool - Questions

[Ivetaa]

1. Mempool is a pool of unconfirmed transactions.
2. If miners can’t keep up with the rate of new transactions, they pick that pays the most leaving lower fee transactions for later.
3. The person who pays the higher fee, gets its transaction validated faster than those who pay less in fees if there are many unconfirmed transactions.

[Cindy]

1. What is the mempool?
   A list that each node keeps of unconfirmed transactions
2. What happens if the miners can’t keep up with the rate of the new transaction?
   transaction times increase and fees can rise
3. How does a growing mempool effect transaction fees? transaction fees go up as competion increases.

[paradox]

1. It is a data structure all nodes have that stores unconfirmed transactions
2. Those transactions are left unconfirmed and the user will have to resubmit a new transaction with a higher fee if he wants it to be confirmed
3. Transaction fees will need to be increased in order for transactions to be confirmed

[coco14]

1. The Mempool is a list of transactions that have yet to be confirmed.
2. Miners being unable to keep up with the rate means that there is not only a size increase in the mempool but that the transaction times get increased as well.
3. A growing mempool affects the transaction fees by increasing these fees.

[Hhammer907]

1. A log of unconfirmed tx’s

2. The incoming go to the mempool backlog

3. Fees increase as the backlog builds

[_Vincent]

1. What is the mempool?
   This is a temp storage, existing in each bitcoin computer (spv, node) that contains all transactions in an ‘unconfirmed’ state.

2. What happens if the miners can’t keep up with the rate of the new transaction?
   They can not confirm the new transaction, and are thus unable to add it to a new block.

3. How does a growing mempool effect transaction fees?
   The more unconfirmed transactions exist in a mempool, the higher transaction fees will be.

[Capstone816]

1. mempool is the unconfirmed transactions on the chain.
   2.the miners productivity is directly related to the transaction times.
   3.fee’s increase with the size of the pool due to the competition.

[Ella_Mae]

@ivan

Homework on Mempool - Questions

1. What is the mempool?

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

3. How does a growing mempool effect transaction fees?

1. Mempool is a process when a transaction is still unconfirmed.
   2.The mempool will grow bigger and increase transaction fees.
2. Transaction fees will increase.

[martina]

1. What is the mempool?
   Mempool is a structure or list of unconfirmed transactions. It can be different for each nodes.
2. What happens if the miners can’t keep up with the rate of the new transaction?
   Miners will choose transaction with the highest fee, as their block is limited.
3. How does a growing mempool effect transaction fees?
   Transaction fees will go up.

[stanmation]

1. Mempool is the list of unconfirmed transactions
2. They will need to wait for max minutes
3. mempool is measured in satoshis / byte. The larger the bytes of the transaction, the more fee incured

[KimiSquurrel]

1. What is the mempool?
   Where unconfirmed transactions go waiting to get confirmed and go inside the block.

2. What happens if the miners can’t keep up with the rate of the new transaction?
   Bottleneck! Transactions get stuck

3. How does a growing mempool effect transaction fees?
   The miners choose which transactions go first.
   If your paying fees too low it can take a long time for your transaction to be confirmed. People start paying more driving up the fees.

[CharlesRieder]

1. What is the mempool?
   A list of unconfirmed transactions waiting to be written to the blockchain. Mempools look different on each node because each node gets it at a different time.

2. What happens if the miners can’t keep up with the rate of the new transaction?
   The mempool gets larger and transaction times/fees become longer and larger.

3. How does a growing mempool effect transaction fees?
   Fees get larger because transactions are prioritized based on fee size.

[Selim]

Hi everyone,

1. It gathers all unconfirmed transactions.
2. The mempool gets bigger
3. There is more demand (more unconfirmed transactions waiting to be confirmed) so the fees increase

[sapsap24]

1. What is the mempool?
   1. A data structure within each node that holds unconfirmed transactions. It is accessed by miners in order to add transaction in to the blockchain with a mining fee.
2. What happens if the miners cant keep up with the rate of the new transaction?
   1. Mempool continues to grow. Time confirm transaction will lengthen.
3. How does a growing mempool effect transaction fees?
   1. Transactions that yield highest sat/b are prioritized for miners to earn for fees, while remaining transactions are processed in the following block

[Alban]

1. The mempool is a data structure that each node has

2. If the miners are unable to keep up the rate of new transactions then a backlog will occur in the mempool

3. A growing mempool results in higher fees per transaction

[Floris1994]

1. What is the mempool?

it is a data structure held by each node, that keep track of unconfirmed transaction. When the miner comes, the miner will add the unconfirmed transaction from the mempool tot the blockchain. Eacht mempool can look slightly different per node.

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

The mempool gets larger, so the confirmation time of a transaction becomes slower.

3. How does a growing mempool effect transaction fees?

This results in higher fees because the miners prioritize transactions that have higher fees (miners get the tx-fee). So people will start paying higher fee to get their transaction confirmed fast.

[kingofnowhere]

1. What is the mempool?
   Mempool is a place where unconfirmed transactions are stored.

2. What happens if the miners can’t keep up with the rate of the new transaction?
   The Mempool grows and it takes a longer time to have a confirmed transaction.

3. How does a growing mempool effect transaction fees?
   There will be an increase in the transaction fees.

[Rogan]

1.It is a memory pool waiting for a miner to select & process a transaction.

2. There is a backlog and congestion = delay for confirming transactions.

3. Users bid higher fees to get processed sooner as miners prefer more lucrative blocks to mine.

[Uypflo]

1. Transaction that are not in the Blockchain and waiting for the miners to get verifyed

2. the mempool grows in size, slower transaction times, high fees are preferred

3. The miners will make the transaction fees higher to earn more money and to decrese the network spaming throug that and

[scordier]

@ivan

• What is the mempool?
• What happens if the miners can’t keep up with the rate of the new transaction?
• How does a growing mempool effect transaction fees?

1. Mempool is a data structure where unconfirmed transactions are stored.
2. The mempool grows and the transactions take a lot of Times
3. Impact on fees because the miners select only the higher fees in the backlog