Homework on Mempool - Questions

Blockchain and Bitcoin 101
#4912
  1. A mempool is a collection of all unconfirmed transactions which follow protocol
  2. If miners cant keep up with the rate that the mempool builds, a backlog of unconfirmed transactions is created, thus delaying the transaction approval time.
  3. A growing mempool effects the transactions fees as the miners will select the highest paying transactions. This in return increases the fee for which transactions are processed.
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#4913

  1. What is the mempool?
    This is a data structure/list of all UtxO’s each node has, they are all unconfirmed until a miner ads them to the block

  2. What happens if the miners can’t keep up with the rate of the new transaction?
    The mempool fills up with UtxO’s, slowing down tx’s and increasing fees as only the highest fee tx’s will be verified and added to the block.

  3. How does a growing mempool effect transaction fees?
    It slows down tx’s and increases fees

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#4914
  1. What is the mempool?

Memory space were de non confirmed transacatiosna re stored in the nodes.

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

The fee value per transaction will raise more, at the same time transation time increases.

  1. How does a growing mempool effect transaction fees?

the fees grow as well because there are more competition since the network becames more congested.

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#4915
  1. Mempool is a data structure on a node that contains all transactions that are unconfirmed and that make sense to the node.
  2. The mempool will grow in size if miners cannot keep up
  3. A growing mempool should result in an upward trend in fees
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#4916
  1. What is the mempool?

The Mempool displays the number, fee, or weight of the unconfirmed transactions, the transactions that haven’t been written to the block-chain yet.

  1. 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 rate of the new transactions, then the Mempool grows larger, transactions times increase and people are likely increasing their gas fees to increases the chances of their transactions going through successfully.

  1. How does a growing mempool effect transaction fees? There is more choice available to the miner. A miner is concerned with bytes and the amount of transactions they can get into a block. Therefor the miner will likely choose a transaction which will pay them more and take up less space in their block.
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#4917

  1. The mempool is where transactions await confirmation from a miner.

  2. The mempool continues to grow, which increases transaction times.

  3. Transaction fees increase as the mempool grows because there is more competition to get your transaction confirmed.

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#4918

  1. The mempool is a list or ledger where all unconfirmed tx are stored and listed. Every node has a mempool of all unconfirmed tx. They are all maybe not identical due to information delay, but very similar.

  2. the mempool starts to grow in tx.

  3. A growing mempool leads to higher transaction fees.

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#4919

  1. A type of waiting area where validated transactions hang out waiting for a miner to choose it and add it to a block. Once that happens the transaction is removed from the mempool.

  2. As the mempool fets full the nodes start prioritizing transactions by setting up a minimal transaction fee. Transactions with a fee rate lower than the threshold are removed from the mempool and only new transactions with a large enough fee are allowed access until miners are able to clear more transactions and the mempool is cleared out more. The transactions with higher fees get chosen by moners when there are a lot of transactions.

  3. The fees increase. The miners select transactions with the higher fees as that is how they get paid. During times where the mempool isn’t as busy the miners will choose lower fee transactions as well. The more transactions available for miners to choose from the higher the fees. As the mempool empties out and fewer transactions per day the fees also decrease.

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#4920

1). A place of storage for all verified but unconfirmed transactions, done by the network nodes. Now verified they sit in the mempool till a miner picks up the transaction/s with the highest fees to append into the next block.
2). ). This would be a “Growing mempool”. The more verified transactions added to the pool, then the miners chose, leaving more transactions, leads to more waiting and longer transaction times.
3). Increase in mempool transactions will directly affect the price of transaction fees. Larger fees offered to the miners will add your transaction faster, and appended it to the block.

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#4921
  1. pool of unconfirmed transactions
  2. they back up and those paying higher fees get picked up first
  3. fees become higher to process through
2 Likes
#4922

  1. Mempool is where pending/unconfirmed transactions are queued.

  2. Mempool backlog grows in size.

  3. You might have to pay more to get your transaction processed.

2 Likes
#4923

List of all transactions
Longer transaction times
Fees go up

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#4924

Homework on Mempool

1. What is the mempool?
A mempool is a pool where unconfirmed/pending transactions are placed to be picked up by miners

2. What happens if the miners can’t keep up with the rate of the new transaction?
A lot of blocks will not be verified in time and mempool will grow.

3. How does a growing mempool effect transaction fees?
Growing mempool will result in higher fees because miners will have a lot of options to choose from and they will give priority to high-fee transaction.

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#4925

  1. The Mempool is a list of accepted unconfirmed transactions from every node.

  2. then the transaction sits until it is produced in a new block.

  3. Growing competition to be confirmed.

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#4926

What is the mempool?
The mempool is a place on each node where transactions that have not been confirmed are stored.

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

The mempool grows and it takes longer for a transaction to get confirmed.

How does a growing mempool effect transaction fees?
A growing mempool can raise the cost of transactions. As listing a higher price to pay for the transactions will raise the priority of your transaction.

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#4927

1 unconfirmed transactions waiting to be confirmed by miners

2 the mempool grows and transactions will be slower

3 probably increases the fees to make it more attractive for miners

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#4928

  1. What is the mempool?
    A list of unconfirmed transactions

  2. What happens if the miners can’t keep up with the rate of the new transaction?
    There will be longer transaction times

  3. How does a growing mempool effect transaction fees?
    there’ll be larger fees

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#4929

1 Sheet of all the wanna be transaction on the blockchain.
2 sat/byte increases in price. The price you pay per unit of space increases.
3 The bigger the mempool the bigger the fees.

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#4930

The mempool is a list of transaction that agree with the blockchain but have not yet been confirmed by the miners.

The mempool grows as the rate of unconfirmed transactions increases.

In an environment of a large mempool higher transaction fees will mean quicker confirmation by the miners.

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#4931
  1. Mempool = Pool of all unconfirmed transactions
  2. The Mempool increases
  3. The transaction fees will probably increase. People are willing to pay higher fees, so that their transaction will go into the next block.
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