Homework on Mempool - Questions

Blockchain and Bitcoin 101
#624 
What is the mempool?

The mempool consists of unconfirmed transactions.

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

The mempool grows as a result.

How does a growing mempool effect transaction fees?

As the mempool grows, the transactions with the highest fees are prioritized by miners who collect the fees (as profit) in return. Transactions with lower fees will take longer to get entered into a block for confirmation. The process creates a competition for those who are willing to pay more in fees to have their transaction confirmed faster.

#625
  1. What is the mempool?
    It describes unconfirmed transactions.
  2. What happens if the miners can’t keep up with the rate of the new transaction?
    mempool will increases because there is an increase in number of unconfirmed transactions and a decreases in block mined.
  3. How does a growing mempool effect transaction fees?
    If mempool increases then there will be an increase in transaction fees.
#626

What is the mempool?
Answer: Mempool is where unconfirmed transaction live until they’re place into a block.

What happens if the miners can’t keep up with the rate of the new transaction?
Answer: The mempool grows in size.

How does a growing mempool effect transaction fees?
Answer: Each block has finite amount of space in bytes. The miner will choose the transaction with the highest fee to place in the next block. The growth in mempool mean higher transaction fees.

#627
  1. It’s a collection of not yet approved transactions.
  2. The mempool grows
  3. You might need to pay higher transaction fees to get included in blocks unless your transaction isnt time sensitive and you dont mind waiting
#628
  1. It’s a storage for unconfirmed transactions.
  2. the transactions go to mempool
    3 it doesn’t
#629

Homework on Mempool - Questions

  1. What is the mempool?
    A mempool is a nodes holding area for all the pending traction.

  2. What happens if the miners can’t keep up with the rate of the new transaction?
    Once the Mempool reaches full capacity, the nodes start prioritising transactions by setting up a minimal transaction fee threshold.

  3. How does a growing mempool effect transaction fees?
    Transaction with a fee-rate lower than the threshold are immediately removed from the Mempool and only new transactions with a large enough fee are allow to access to the Mempool. Transaction fee relate to satoshi per byte. The higher amount of satoshi per byte, the greater the change of your transaction being added to the block.

#630
  1. The mempool is a place where unconfirmed transactions wait for a miner to pick them up to add to the next block.
  2. If the miners can’t keep up with the rate then the mempool grows larger and there are longer transaction times.
    3.Transaction fees increase with a larger mempool because of the competition to get the transaction to the next block. Larger fees are offered to miners to get the transaction picked first ( miners incentives )
#631

1/ A mempool is a record of unconfirmed transactions that are waiting to be put in a block by miners
2/ The mempool is grows in size and transactions take longer to occur
3/ Transaction fees go up to incentive miners

#632

  1. The mempool is a data structure containing unconfirmed transactions which is distributed to the nodes. Miners take transactions from the mempool to form new blocks.

  2. If the miners can’t keep up with the rate of new transactions, then it can take longer for transactions to confirm.

  3. As the mempool grows, miners will prioritise transactions which pay higher fees so the fees generally need to rise for people who want their transaction confirmed more quickly.

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#633
  1. A chart of all unconfirmed transactions
  2. The transaction fees increase as well as pending transactions
  3. Who pays more gets his transaction added to the blockchain first
#634

1 a list of unconfirmed transactions

2 het mempool grows

3 the miners confirm the transactions wit the highest fees, so the fees can go up

#635
  1. A list of unconfirmed transactions.
  2. The mempools will increase in size and potentially result in increased fees and transaction times.
  3. New transactions will have higher fees to ensure they are processed; this situation could result in older transactions being processed much after newer ones once the backlog is reduced.
#636

The puzzle is about the difficulty of mining. If miners can’t keep up with the rate of new transactions, the mempool will simply grow in size quicker than miners can process transactions into new blocks. So the fee’s will go up to prioritize

#637
  1. Mempool is a list of unconfirmed transactions in a node.
  2. When miners cant keep up the unconfirmed transactions stack up in the mempool.
  3. Miners start prioritizing transactions with the biggest fees.
#638

Homework on Mempool - Questions

What is the mempool?
The mempool is a collection of transactions that need to still be mined. They are still need to be confirmed by the network.

What happens if the miners can’t keep up with the rate of the new transaction?
The mempool will get larger and only the transactions with high fees will be confirmed.

How does a growing mempool effect transaction fees?
Only high fee transctions will be confirmed, so that means that if you want your transaction to be confirmed your fee should be higher.

#639

  1. Where unconfirmed transactions are stored

  2. mempool fills

  3. Growing mempool means higher fees

#640

  1. Mempool is a temporary list of verified transaction that miners did not confirm yet. Ideally, every full node has the same Mempool.

  2. The mempool list gets longer

  3. Miners proirities higher fees transaction over smaller fees ones. With a growing mempoll, the transaction with biggest fees gets precedence.

#641
  1. Mempool is a set of listed unconfirmed transaction that spreads around the nodes and miners
  2. it will slow down the speed of transaction
  3. when the speed of transaction reduced by the growing mempool, the fees for miners will increase to speed up
#642

  • What is the mempool?
    A mempool is a list of unverified transactions, each of which is then added to the block (or not added if erroneous) by the miners.

  • What happens if the miners can’t keep up with the rate of the new transaction?
    The mempool will grow larger as the list increases in size. Transactions will take longer.

  • How does a growing mempool effect transaction fees?
    The fees go to the miners, so the miners will have more incentive to verify the transactions with higher fees.

#643

1. What is the mempool?
The mempool is a list of transactions that waiting to be confirmed by the network. The transactions are waiting to be picked up by a miner to add them to a block.

2. What happens if the miners can’t keep up with the rate of the new transaction?
The mempool increases in size, which in turn slows down transaction times.

3. How does a growing mempool effect transaction fees?
Miners will choose the transactions that net the most. If people are impatient they will offer more incentive.