Homework on Mempool - Questions

Blockchain and Bitcoin 101
#4932

  1. A mempool is database where all the unconfirmed transaction go, and waiting for the miner to add them to the next block, and all the transaction make sense.

  2. The mempool gets filled with more more unconfirmed transactions and the transaction time will be long.

  3. The transaction fees go higher and miner’s wants to pick up those higher fee transactions inorder to make money and fill the next block.

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#4933

  1. What is the mempool?

    • Mempool is the list of all unconfirmed transactions including the fees.

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

    • The number of unconfirmed TX will increased, and the TX with lower fees will be ignored.

  3. How does a growing mempool effect transaction fees?

    • When mempool is increased will increase the TX fees
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#4934
  1. Basically Mempools are a database of transactions waiting to be confirmed by the miners; just to recap, transactions are created by the wallets, signed by the private key. Nodes propagate transactions through the network and confirmed by the miners.
  2. Mempool increase its size and consequentially increase the transaction time
  3. The market fee increase and the transactions with the higher fee gets taken first
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#4935
  1. It is a temporary storage for pending transaction.
  2. The mempool will grow bigger and it takes longer to process transactions.
  3. As the mempool grows bigger so does transaction fees.
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#4936

  1. What is the mempool? A list of all pending transactions pending confirmation and validation by miners.

  2. What happens if the miners can’t keep up with the rate of the new transaction? The size of the pool will increase and therefore completion time of transactions will be effected and delayed.

  3. How does a growing mempool effect transaction fees? The larger the pool the more fees will increase due to the needed capacity to fulfill these requests on the network. The scalability factor is effected under these circumstances.

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#4937

  1. What is the mempool? A collection of unconfirmed transactions waiting to be added to a new block.

  2. What happens if the miners can’t keep up with the rate of the new transaction? Causes a backlog like bumper to bumper traffic in California.

  3. How does a growing mempool effect transaction fees? Higher transaction fees are given priority over lower transaction fees.

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#4938
  1. It is the list of pending transactions
    2.Pending transactions will increase in mempool
    3.Mempool has many transactions pending , miners will take more fee to get transaction processed first for anyone who wants to make their transaction first.
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#4939
  1. List of unconfirmed transactions
  2. mempool backlogs, takes longer for transaction to go through
  3. the fees will be more expensive
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#4940
  1. What is the mempool?
    A. Is where unconfirmed transactions wait for a miner to add them to their next block.
  2. What happens if the miners can’t keep up with the rate of the new transaction?
    A. The mempool gets larger and transaction times increase.
  3. How does a growing mempool effect transaction fees?
  4. There is more competition for transactions to be added to the next block so fees increase to match the demand.
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#4941
  1. A mempool is a data structure all nodes have that show the count of unconfirmed transactions.
  2. If the miners can’t keep up with the rate of the new transaction the mempool continues to grow and the fees increase.
  3. A growing mempool effects transaction fees because the miners incentive is a higher transaction fee. If the mempool grows, miners will more likely go for transactions with higher fees first.
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#4942

  1. The mempool is a datastructure (list) that each node has where transactions after being verified by the node are waiting to be picked up by a miner to become finalized (confirmed) on the blockchain by the miner. In the mempool they are unconfirmed and waiting to be appended or inserted to the blockchain by a miner.

  2. The mempool will grow bigger and the fee structure will change.

  3. A growing mempool wil make transaction fees go up because the miner will choose the transactions with the highest fees.

#4943
  1. Mempool stores pending transactions.
  2. The Mempool will increase in size
  3. Mempool increases, confirm process needs longer, the miner will go after the higher transaction fee. kinda like Door Dash with leaving a tip, Transaction fees will increase.
#4944

Mempool is the list of BTC transactions which are not confirmed yet by the miners (and added to the new block by them)
2.
Mempool gets larger with longer transaction times.
3.
Transaction fees increase.

#4945
  1. What is the mempool?
    Every node has a mempool where it stores unverified transactions that have not been added to a block yet. The miner then selects new transactions from this mempool, verifies them with other nodes and if they are valid, adds them to the new block. It’s like a waiting room for transactions.
  2. What happens if the miners can’t keep up with the rate of the new transaction?
    Fees increase as everybody wants their transaction to be verified. Congestion and you might have to wait hours if you selected low fees.
  3. How does a growing mempool effect transaction fees?
    They increase because the miner will always select the transaction with the highest fees. As long as a transaction is in the mempool, you could possibly change it. For example I could send A 1 BTC with very low fees which takes hours and tell him I sent the BTC. But right after that I make a second transaction with very high fees transferring the 1 BTC to another address of me instead.
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#4946

1 The mempool is a pool of unconfirmed transactions stored in a node’s memory.

2 If miners cannot keep up with the rate of new transactions, the mempool will grow and transactions will take longer to be confirmed.

3 As the mempool grows, miners will prioritize transactions with higher fees, as they are more profitable. This can lead to higher transaction fees for users.

#4947

  1. A mempool is a data structure with all the unconfirmed transactions which are waiting on a miner to be inserted in the blockchain.

  2. If miners can’t keep up with the rate of new transactions, then the transaction fees will get more expensive and, therefore, transactions with greater fees will be more likely to be included on the next block of the blockchain. Also, transactions will take longer to get the ‘confirmed’ status, specially if the fee you’ve selected is lower than the actual fee that everybody else is paying at that moment.

  3. As said before, a growing mempool will increase the rate of the transaction fees, making it way more expensive that a miner will include your transaction at the next block of the blockchain.

#4948
  1. What is the mempool?

Data structure each node has and list of unconfirmed transactions. Transactions is unconfirmed until the miner makes the next block.

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

Memepool transactions list will grow larger, which will longer transaction times.

  1. How does a growing mempool effect transaction fees?

Limited space of more bytes size, hard drive due to multiple transactions of inputs and outputs The higher transaction fee someone is willingly to pay will be put into the next block and more competition

#4949
  1. The mempool is a data structure that contains all unconfirmed transactions waiting to be included in a block by miners.
  2. If miners can’t keep up with the rate of new transactions, the mempool will grow and confirmation times will increase.
  3. A growing mempool increases transaction fees, as users need to increase fees to have their transactions included in the next block. Conversely, an empty mempool allows for lower transaction fees.
#4950
  1. What is the mempool?
    is unconfermed transaction waiting to be in a block by miners
  2. What happens if the miners can’t keep up with the rate of the new transaction?
    confirmation time will increase
  3. How does a growing mempool effect transaction fees?
    if its has more bytes the fee is gonna be higher
#4951
  1. The mempool is a list of unconfirmed transactions that have been broadcast to the network and are waiting to be included in a block by a miner.
  2. If miners can’t keep up with the rate of new transactions, the mempool will grow, and the time it takes for transactions to be confirmed will increase. This can lead to higher transaction fees as users compete to have their transactions included in the next block.
  3. A growing mempool can increase transaction fees because users may offer higher fees to incentivize miners to prioritize their transactions. Miners prioritize transactions with higher fees, so as the mempool grows, the competition to have a transaction confirmed increases, leading to higher fees.