Homework on Mempool - Questions

[SGB]

1. What is the mempool?
   The mempool is a data structure held at nodes that keeps a pool of valid unconfirmed transactions.
2. What happens if the miners can’t keep up with the rate of the new transaction?
   The number of transactions in the mempool is going to increase
3. How does a growing mempool effect transaction fees?
   I would guess transaction fees will increase. Wallets/Users will see there is a backlog and to make sure their transaction gets processed in reasonable time will offer a greater fee to be processed as soon as possible. Miners will process pending transactions with the highest fees first

[XyzjynX]

[SGB]

Hey, what tool are you using to generate that answer? Looks great

[Andre_Niederkofler]

1: The Place where the unconfirmed Transactions (of a particular Node) are listed.

2. The Mempool will grow

3. The fees will increase. Miners are financially incentivised to put transactions into the next Block (aprox. every 10 Min a new one is created) so the transactions with the highest fees (Sats/byte)

[Captaincrypto]

1. What is the mempool?
   A list of pending transactions awaiting confirmation.
2. What happens if the miners can’t keep up with the rate of the new transaction?
   The Mempool increases in size.
3. How does a growing mempool effect transaction fees?
   The higher transaction fees will be processed first by the miners.

[Hectorgato]

1. Mempool is the data structure each node has. Each node has a list of unconfirmed transactions it in the process of verifying. Each node gets transaction and logs it into their mempool.

2. The mempool will grow and transactions take longer to complete.

3. The miners have the incentive to pick the transactions that have the highest fees and is so doing will drive the price up.

[XyzjynX]

its called Thortspace. its free. i thought it better to take notes in here and be able to refer to them rather than have them lost in the forum.

[arno_nabuurs]

1. Its a temporary place on a full node where the unconfirmed BTC transaction wait for miners to be transacted

2. The mining fees will go up

3. Because there will be more transactions competing to be mined, so fees will increase.

[Dylan22]

1. The mempool is a data structure within each node. It contains a list of unconfirmed transactions.

2. The mempool grows in size and transactions with higher fees will get priority.

3. The fees will increase.

[AF90]

1. A mempool is a nodes individual list of transactions.
2. If the miners are unable to keep up with the transaction rate, there will be a backlog, which subsequently results in slower verification times.
3. As a mempool increases in size, so do the transaction fees.

[jsd]

1. What is the mempool?

A “pool” of unconfirmed transactions to be confirmed by the miners.

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

Mempool grows in size.

3. How does a growing mempool effect transaction fees?

Fees will go up.

[Nev]

• What is the mempool?
  List of unconfirmed transactions

• What happens if the miners can’t keep up with the rate of the new transaction?
  It takes longer to process and fees go up

• How does a growing mempool effect transaction fees?
  They increase

[WesBit]

A mempool is a list of unconfirmed transactions. If miners can’t keep up with the rate of new transactions the mempools get larger. A growing mempool will result in higher fees.

[Anarchocapitalxx]

1. A ledger of all transactions
2. The transactions will be left in the mempool till the next block is created.
3. Because if all transactions cant fit in the block some will be left in the mempool and the fee will increase.
   ( We saw that example on the last bull run ) fees were extremely expensive )

[Coco]

1. A mempool consists of unconfirmed transactions that will be picked up by miners and then put into the blockchain.

2. If the miners cannot keep up withe the rate of the new transactions the mempool grows larger and larger.

3. The fees most probably will go up because the miners will pick the transaction with the highest fees.

[hoipolloi9]

1. What is the mempool?
   The mempool is the waiting area or pool of valid but unconfirmed transactions waiting to be picked up by a miner to be added into the next block.

2. What happens if the miners can’t keep up with the rate of the new transaction?
   A backlog occurs and we see longer transaction times.

3. How does a growing mempool effect transaction fees?
   Fees will grow higher. If the mempool reaches full capacity then a threshold can be enabled and those waiting transactions with fees below the threshold risk getting dumped.

[Timo_Kussmaul]

1. What is the mempool?
   The mempool consists of all unconfirmed transactions. Miners take out the ones containing the highest fees to combine them within the next block

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

3. How does a growing mempool effect transaction fees?
   They should raise because it gets harder to get into a block then

[Jaap_NL]

• What is the mempool?
  This is the place all unforfirmed transactions are stored untill a miner finds them and process the transaction.

• What happens if the miners can’t keep up with the rate of the new transaction?
  The mempool will increase. (the waiting line for that matter)

• How does a growing mempool effect transaction fees?
  The larger the fee you pay, the higher the chance the miner will pick your unconfirmed trasnaction. Miners work based on financial gains. They will process the transactions based on the fee offered.

[stonedakilla]

• What is the mempool? >> it is the collection of unconfirmed transactions
• What happens if the miners can’t keep up with the rate of the new transaction? The mempool is getting full with transactions and it takes more time to get the transactions confirmed

[SGB]

Brilliant! Thanks for the info, I will check it out…