Homework on Mempool - Questions

Blockchain and Bitcoin 101
#4852

  1. What is the mempool?
    The mempool is a bitcoin transaction database queue that each full node maintains for itself. When a transaction is verified by a node it sits inside the mempool until a bitcoin miner inserts it into a block.

  2. 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 new transactions the mempool will grow in size.

  3. How does a growing mempool effect transaction fees?
    As the mempool grows, nodes start prioritizing transactions by setting a minimum Tx fee. Transactions with lower fees than the threshold are removed from the Mempool and only new transactions with large enough fees are processed.

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#4853
  1. What is the mempool?

The mempool is the data structure that holds each node’s list of unconfirmed transactions in a blockchain.

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

Nodes set up a fee structure to prioritize transactions. They remove transactions with a lower fee than the limit/threshold set from the mempool and allow transactions with much higher fees access to the mempool. This keeps the rate of the new transactions manageable for miners.

  1. How does a growing mempool effect transaction fees?

A growing mempool creates a situation that causes some wallets to replace their transactions with transactions having higher fees to ensure that their transactions are confirmed in a timely manner. This is called Replace By Fee or RBF. Some wallets use the services of transaction accelerators which are mining pools that provide a service of accelerating specific transactions for a fee. In all of these cases, wallets pay higher transaction fees.

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#4854
  1. What is the mempool?
    -> list of unconfirmed tx and their fees
  2. What happens if the miners can’t keep up with the rate of the new transaction?
    -> memopool get bigger confirmations take longer
  3. How does a growing mempool effect transaction fees?
    -> fees go up
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#4855
  1. What is the mempool? a list of unconfirmed Tx waiting to be added to the next block in the blockchain by a miner.
  2. What happens if the miners can’t keep up with the rate of the new transaction? The mempool increases in size and fee will increase.
  3. How does a growing mempool effect transaction fees? fees increase when mempool increeases.
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#4856

Answers:

  1. The mempool is the data structure of unconfirmed transactions that all the nodes have.

  2. The mempool size will get bigger.

  3. the bigger the mempool size the higher the transactions, as the miners will compete even more to confirmed the new blocks. This is because, larger fees are offered to miners to deal first with tx.

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#4857
  1. All unconfirmed transactions in node.
  2. Fees gets higher.
  3. First are transactions with higher fee because miners are intrested to get paid .
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#4858
  1. pool of transactions that haven’t been put on the blockchain
    2.the pool continues to grow
  2. the transaction fees get higher
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#4859

  1. Is the group of pending tx on the BTC network.

  2. The mempool will froze.

  3. If it is high, then fees are high, and so on.

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#4860

1. What is the mempool?
The mempool is an area on each node where unconfirmed transactions are stored (waiting to be processed).

2. What happens if the miners can’t keep up with the rate of new transactions?
The mempool gets larger, taking up more storage space.

3. How does a growing mempool affect transaction fees?
A larger mempool indicates higher demand for processing of transactions. This causes fees to increase (more satoshis per byte).

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#4861

  1. what is a mempool?
    A mempool is a database that lists all transactions.

  2. what happens if the miners can’t keep up with the rate of the new transaction?
    A mempool backlog stacks up resulting in longer transaction times.

  3. How does a growing mempool effect transaction fees?
    People will have to pay more to get their transaction processed. miners can choose to mine transactions with more fees as first.

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#4862

1 place where transactions sit until they are validated

2 he takes the ones that pays more

3 it raises the price of the transaction fee

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#4863

1.) it indicates the list of transactions
2) The Mempool gets bigger and transactions will be pending until accepted.
3.) The higher the fee the faster your tx will be validated.

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#4864

  1. Mempool is a place where nodes send unconfirmed transactions until they are confirmed by the miners.

  2. Fees become prioritized if miners can’t keep up with new transactions.

  3. The growing mempool means that the user who is willing to pay more in fees will get the block produced first.

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#4865

  1. Mempool is a pool that is held by nodes with all unconfirmed transactions received from the network. Once the transaction is confirmed it will not appear in the mempool.

  2. In this case transactions will remain in the mempool until miners can process then.

  3. A growing mempool affect transaction fees because user may compete to get transactions confirmed by increasing their own fee. Transaction are always competing against each other to get miners attention.

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#4866

  1. What is the mempool?
    unconfirmed transactions

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

  3. How does a growing mempool effect transaction fees?
    the prices get higher as the miners have more transactions to choose from and will generally chose the most valuable

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#4867

Homework on Mempool - Questions

What is the mempool?
Where unconfirmed transactions are pending.

What happens if the miners can’t keep up with the rate of the new transaction?
It will fill up and clog the backlog, causing a delay.

How does a growing mempool effect transaction fees?
Whichever pending transactions pays the incentive more, gets picked.
#4868
  1. Mempool is a list of uncomfired transactions, it’s the foundation of miners work.
  2. If miners can’t keep up with the the rate of new transactions the mempool gets overfilled with new pending transactions which makes the processing time longer, and automatically the TX fees get raised aswell.
  3. Answered it above.
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#4869

  1. The mempool is a list of unconfirmed transactions that each node stores in its ram memory until it can be placed on the blockchain by a miner.

  2. What happens if miners can’t keep up with the rate of the new transaction?
    If miners cannot keep up with the rate of the new transactions the mempool grows and it takes longer on average for transactions to be confirmed.

  3. If the mempool grows then the transaction fees go up to incentivise more miners to mine.

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#4870
  1. What is the mempool?

A// the mempool is the data structure where the non confirmed transactions are store in each node.

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

A// the mempool increase and the transaction time takes longer

  1. How does a growing mempool effect transaction fees?

A// well if there is a large mempool the fees will increase and the person who pays the expensive fee is the one whos transaction will go first.

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#4871
  1. Mempool is a ledger that stores transactions pending to be recorded into the blockchain
  2. mempool size increases, to keep track of transactions waiting to be recorded into the blockchain
  3. growing in mempool will cause the gas fees for the transaction to be recorded to increase
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