Homework on Mempool - Questions

Blockchain and Bitcoin 101
#42
  • What is the mempool?
  • a list of unconfirmed transactions to be validated by the miners.
  • What happens if the miners can’t keep up with the rate of the new transaction?
  • confirmation will go slower and mempool will grow.
  • How does a growing mempool effect transaction fees?
    The fees will rise.
#43
  1. the database of unconfirmed transactions
  2. the confirmation of the transaction is delayed until the next block
  3. transaction fees go up because of competition to get an a transaction confirmed
#44

1 a pool of all unconfirmed transactions

2 delay as miners will process the transactions with higher fees first. slow transaction process

3 fees can rise as people will be more likely to pay more if they want their transactions to be confirmed faster.

#45
  1. each node verfies new transaction and put it into the mempool. the mempool is a datastore for all unconfirmed verified txs
  2. the mempool grows, confirmation times gets longer and mostly the tx fee rise
  3. tx fee is rising
#46

A list of all pending transactions.

The transaction takes longer time.

The fees gets higher.

#47

  1. The mempool is a sort of intermediate between transaction requests and confirmed transactions on the blockchain.

  2. If the miners can’t keep up with the new transactions then the mempool grows as transactions wait to be confirmed resulting in higher transaction fees.

  3. A growing mempool increases transaction fees because the miners will prioritize transactions with the most profitable fee to bitrate ratio.

#48

Homework on Mempool - Questions

  1. What is the mempool?
    -List/count of uncofirmed transactions
  2. What happens if the miners can’t keep up with the rate of the new transaction?
    -Transaction times increase so tx fees propably increases as well
  3. How does a growing mempool effect transaction fees?
    -Fees rise. Miners wants to choose the highest paying fees because there is limited amount of bytes in a block.
#49
  1. Its a list of Unconfirmed transactions.
  2. That would affect the Blockchain scalability and the Mempool would get bigger and bigger.
  3. A big Mempool result in higher fees and lower speed for transactions since would get more difficult for a transaction to be validate by a miner and then get in the Blockchain.
#50

  1. A Mempool is a list of unconfirmed transacations that are queuing and waiting to be confirmed by miners. This list is shared by full nodes and by miners who all have their own copy of it. This list also contains the fees for transactions. The miners always choose the transactions that carry biggest fees.

  2. The miners will prioritize the transactions that have the highest fees due to their economic incentives. If there are too many transactions, they will linger in the mempool for a longer period of time before the miners confirm them and append a new block filled with transactions to the chain.

  3. If th mempool is large, there will be a priority to confirm the more expensive transactions that carry higher fees in satoshi per byte of data. The size of the block is limited, therefor the miners want to choose the juiciest and more expensive transactions from the mempool to process first.

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#51

Homework on Mempool - Questions

  1. What is the mempool? A data structure that each node has. A list of unconfirmed transactions and the transaction fees. The mempool may look different for each mode until all transactions are propogated.
  2. What happens if the miners can’t keep up with the rate of the new transaction? The transaction times increase.
  3. How does a growing mempool effect transaction fees? The miner gets the transaction fees and also chooses the highest fees in the mempool. The fees are based on the number of bytes not the bitcoin amount. The fees with more outputs may cost more in fees than a transaction with fewer outputs. This is based on the amount of space that is taken up.
#52
  1. Mempool is a data structure that each node has. Each UTXO lays in mempool.
  2. A block has limited space. Space is determined by bytes (sat/b). A new block is created at ten minute intervals allowing the miner to pick a UTXO from mempool.
  3. A miner will take a UTXO with the highest fee because of the incentive of making money.
#53
  1. A mempool is a list of all unconfirmed transactions
  2. Transactiontime increases and also fees. The backlog will grow.
  3. The fees will increase as a “race” to get addad faster will drive up the offered fees.
#54

Mempool is the temporary storage on nodes and miners where transactions
reside where they are picked up by miners to be processed based on transaction fees.

The transactions remain in the Mempool until they are picked up.

Transaction fees are based on byte size and the Mempool is purged every 10 minutes when the
new block chain is created.

#55
  1. The mempool is the list of transactions waiting to be chosen to be included in a block. The mempool lives on a node and a transaction that is included is shared on other nodes in their own mempools.
  2. The queue of transactions gets longer and transactions get delayed.
  3. Fees increase when there are more transactions waiting to be confirmed.
#56
  1. A mempool is a list of reasonable transactions held by a node.
  2. The mempool size will grow.
  3. The fees will be higher. A miner asks more to write it in his block on the blockchain.
#57
  • What is the mempool?
    A real time database of all unconfirmed transactions waiting to be included in a block on the blockchain.
  • What happens if the miners can’t keep up with the rate of the new transaction?
    The mempool would grow in size. The number of transactions waiting to be included in the next block would increase the mempool size.
  • How does a growing mempool effect transaction fees?
    The miners would be able to pick the transactions with the largest fees and ignore the ones with the smallest fee. This is why when the market is hot and you need to get your transaction processed asap paying a higher fee is a good idea. If you are in no hurry then you could pay a small fee and wait for the mempool to shrink so that a miner will include your transaction.
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#58
  1. A mempool keeps record of uncomfirmed transactions
  2. the confirming process takes longer time and the mempool grows.
  3. The transactions fee will increase, miners allways goes for the highest fee first
#59

  1. What is the mempool?
    Mempool is a data structure all nodes have that lists unconfirmed transactions.

  2. What happens if the miners can’t keep up with the rate of the new transaction?
    The mempool would grow in size, and transaction fees may increase due to demand outpacing mining supply supply.

  3. How does a growing mempool effect transaction fees?
    Increase

#60
  1. the Mempool is the area for the collection or holding of all unconfirmed transactions. Nodes pick unconfirmed transactions from the mempool and decide whether they are valid to be approved or not. Once an unconfirmed transaction in the mempool is confirmed or approved, it then enters the blockchain.
  2. If the miners can’t keep up with the rate of the new transaction, the mining fees will go up.
  3. Miners look for transactions with higher transaction fees and solve the puzzle first.
#61

1 Mempool is a series of unconfirmed valid transactions written by nodes waiting for a miner to pick

2 If the miners cannot keep up with new transactions the network will slow down, increase in time for transactions, the mempool will grow

3 Miners pick transactions on the value of fees, the higher, the more profitable
when the mempool is growing transactions fees increase