Homework on Mempool - Questions

Blockchain and Bitcoin 101
#503

  1. The mempool is a collection of all transactions that have yet to be included in the blockchain, or simply unconfirmed transactions.

  2. Each node will keep track of all unconfirmed transactions that they have been broadcast within the node’s mempool. Because a transaction may be broadcast to one node before another, each node’s mempool will differ from other nodes.

  3. If the network becomes congested, miners will prioritize transactions with the highest fees, as the incentive is higher. Therefore, to increase the likelihood of introducing your transaction in the next block, you would increase the included fee within the transaction.

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#504

1- The mempool is a data structure that all nodes have and stores all unconfirmed transactions.

2- if the cannot keep up, the mempool grows and the transaction times become longer.

3- It effects the fees, because miners tent to get the transactions with larger fees to add in the blocks, so the unconfirmed transaction with larger fees tent to get picked first.

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#505

  1. the mempool represents the amount of valid, unconfirmed transactions. Every ten minutes miners take these transaction out of the mempool and put it in a block of the blockchain.

  2. When there is lots of traffic (which means a high amount of transactions) in the network the mempool gets bigger and bigger. The time for confirming your valid transactions gets longer and longer, too. In most cases the transaction fees also increases.

  3. A growing mempool increases the transaction fees, because miners sort the transactions and take the transaction with the highest fees first. Miners get those fees as a financial incentive.

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#506
  1. What is the mempool?
  • It is a data structure that each node has. Unconfirmed transactions that make sense will be stored in the mempool until a miner puts them into a block. Once a transaction is moved into a block it is removed from the mempool.
  1. What happens if the miners can’t keep up with the rate of the new transaction?
  • The mempool will grow larger.
  1. How does a growing mempool effect transaction fees?
  • As it grows larger, the miners are likely to pick the transactions with the highest fees. This can amount to longer waiting times.
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#507

What is the mempool?

  1. The mempool is the list of unconfirmed transactions held on each node in the network.

What happens if the miners can’t keep up with the rate of the new transaction?
2. The miner will look for the transactions with the highest fees and process them first. A backlog will then build up in the mempool.

How does a growing mempool effect transaction fees?
3. If there are more transactions to process in the mempoll then the TX fees go up.

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#508

  1. What is the mempool?
    a nodes holding area for pending transactions.

  2. What happens if the miners can’t keep up with the rate of the new transaction?
    miners can change there fee structure to only accept transactions with the minimal amount of fee’s

  3. How does a growing mempool effect transaction fees?
    fee price will increase with demand

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#509
  1. What is the mempool? The mempool is a list of unconfirmed transactions waiting to be selected by miners.
  2. What happens if the miners can’t keep up with the rate of the new transaction? If the miners can’t keep up the mempool (list of unconfirmed transactions) will grow
  3. How does a growing mempool effect transaction fees? Transaction fees can rise as people set fees higher in hope of having theirs confirmed first.
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#510
  1. A mempool is a list of unconfirmed transactions.
  2. The transaction times take longer.
  3. Transaction fees will go up as miners hunt for the large transactions with the more bytes in them.
#511

  1. A mempool is a list of unconfirmed transactions; they are waiting to be confirmed by miners.

  2. If miners cannot keep up then the list of unconfirmed transactions will grow, and confirmation will therefore take longer.

  3. One way to get a transaction confirmed faster is by increasing the transaction fee. So, if the mempool grows, one can increase the fee to attract miners to prioritize a particular transaction.

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#512
  1. A Mempool is a data structure of a node where there are unconfirmed transactions.
  2. The Mempool will grow in size and it will take longer to make transactions.
  3. A growing Mempool means confirmation time for transactions will be longer, and miners, who are still financially incentivized, will look for the transactions with the highest fees, which in turn will increase the transactions fees in order to be confirmed first.
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#513
  1. What is the mempool?

The mempool is a list of all unconfirmed transactions on a given node.

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

The mempool will grow in size as more unconfirmed transactions build up.

  1. How does a growing mempool effect transaction fees?

Transaction fees will increase as the transactions with higher fees will be picked up first by the miners.

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#514

Homework on Mempool - Questions

1. What is the mempool? Mempool it’s like a DATA sturcture that all NODES have and regroupd a list of Unconfirm Transaction.
**2. What happens if the miners can’t keep up with the rate of the new transaction?**Miner will always select transaction that are in the best interes of making money ( they are INcentive) they can pick up some transaction from another Node but they are also a NODE themself, they can also pick-up transaction in their own MemPool
3. How does a growing mempool effect transaction fees? Because you need to compete will another Transaction that offer better FEES VALUE. More demand, more the price have to be HIGHER for your transaction want to be selected

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#515

1 the mempool is a data structure that each node has and consists of all the unconfirmed transactions waiting for the miner to confirm them and put in the next block
2 if miners cant keep up the mempool grows in size
3 growing mempool pushes transaction fees up because miners are incentivised to add to the next block the transactions with higher fees

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#516

  • The mempool is the shared and updated list of unconfirmed transactions that haven’t been added to a mining job yet.

  • The miner will choose to mine the biggest quantity of transactions with the biggest reward in sat/bytes in order to optimise their reward at the current mining difficulty.

  • With a growing mempool, users will need to increase their fees in order to compete with miners incentives to choose above a fee-reward threshold to prioritise revenue upon number of transactions taken out from the mempool.

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#517

1
The mempool is the list of the transactions to be processed and is present in every node. The transactions propagates in the blockchain to be present in many pool. The miners pick first the most profitable (in terms of satoshi per Byte) and append the confirmed transaction to the block.

2
The transaction will not be picked and stay in the mempool.

3
A big mempool means many transactions were not be picked because there was a small fee for them. So the fees increase as the wallets adjust it to let the transactions be executed.

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#518

  1. A mempool is a collective database of transactions signed by wallets and broadcasted to nodes, though not yet confirmed on the blockchain by a miner. The list of unconfirmed transactions in a particular mempool can be unique to its respective node, depending on the course of propagation. A mempool might be considered a purgatory for transactions awaiting the actions of a miner.

  2. In theory, the mempool should increase and decrease approximately every ten minutes as new transactions are added by nodes and subsequently pulled by miners with the creation of new blocks. If miners cannot keep up with the rate of new transactions, then a backlog of pending transactions will build and the mempool will grow larger, which will contribute to longer wait times for confirmation on the blockchain and higher fees.

  3. Fees are determined by satoshis per byte, meaning that simpler transactions in terms of inputs and outputs are often more affordable regardless of the “amount” being transferred. A sender pays for bytes that take up space in a block. As the mempool grows larger with pending transactions, competition for confirmation on the next available block will also increase. Miners are financially incentivized to select pending transactions with the highest fees for processing, thus driving transactions with higher fees to the front of the queue.

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#519
  1. Each transaction UTXO’s will be stored in the each wallet or participants of the blockchain. That space is called Mempool
  2. I dont think it will happen, but if that happens then the fee will be dropped and balanced out the market competition.
  3. I will make it higher. because the market speculation will be demanded
#520
  • What is the mempool? The mempool stores all the uncomfirmed transactions on the blockchain.
  • What happens if the miners can’t keep up with the rate of the new transaction? The mempool will grow
  • How does a growing mempool effect transaction fees? The transactions fees will increase and those of higher value will get priority by the miners when picking them for the next block.
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#521
  1. A mempool contains transactions which have been approved by the node, however, not yet confirmed by a miner and added to the blockchain.
  2. The size of the mempool will continue to grow resulting in longer wait times for new transactions to be added to the blockchain. Transaction fees will likely increase too.
  3. Transactions fees would be expected to increase as the mempool grows in size.
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#522

It is a node’s collection of unconfirmed transactions, that are waiting to be picked up by a miner and added to the blockchain.

The mempools are getting bigger and bigger.

The transaction fees rise.

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