Homework on Mempool - Questions

Blockchain and Bitcoin 101
#664
  1. What is the mempool?

List of current pending TX.

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

Miner Fees go up, Block times go up and transactions take longer to conduce.

  1. How does a growing mempool effect transaction fees?
    Miners have higher fee incentives to mine blocks, so higher sats will be paid for speedy TX
#665

Homework on Mempool - Questions

  1. What is the mempool? - Mempool is a pool where all yet unconfirmed transactions go.

  2. What happens if the miners can’t keep up with the rate of the new transaction? - The transaction fee for that transaction is bigger because it takes more Bites and it takes more space so that the other transactions can’t fit in the same block which extends the waiting list for other transactions.

  3. How does a growing mempool effect transaction fees? - If we have a bigger mempool the bigger the fee we put on our transaction, more likely is that our transaction is going to be picked up by the miner.

#666
  1. It’s a waiting room for transaction to be chosen by the miners and later added to the block. Once it added, it’s going to be removed from a mempool.
  2. More and more transactions will be added to mempool.
  3. Transaction fee will increase.
#667
  1. A mempool contains unconfirmed transactions.

2.The mining difficulty is reduced.

  1. More transaction fees are available for miners.
#668
  • What is the mempool?
    The mempool is the station where your transaction is pending to eventually be addet to the block
  • What happens if the miners can’t keep up with the rate of the new transaction?
    The transaction times will take longer due to the limited true put.
  • How does a growing mempool effect transaction fees?
    The transaction fees will get higher.
    The miners always look for the highest amount of satohi’s per bite
#669

1* The mempool is a place where unconfirmed transactions wait for miners to pick them up to add to the blockchain.
2* longer transaction times
3*Transaction fees increase

#670
  1. a mempool is a list of unconfirmed transactions.
    2.there will be a backlog in transactions and transactions will take longer to be confirmed.
    3.the fee will need to go up.
#671

1- Mempool is a list of all unconfirmed transactions in the blockchain
2- The transaction times are going to increase; mining difficulty is going to ease and there would be more miners joining the BTC blockchain
3- Fees in BTC are measured in satoshi’s/bytes. So the larger in size (bytes) the transaction is, the higher the fee is going to be.

#672

  1. The mempool is a list of validated transactions in a full node that are in a waiting stage of a transaction and awaiting further confirmation from a miner.

  2. If the miners can’t keep up with the rate of the new transactions, meaning there is an overload of newly unconfirmed transactions in the mempool, then the node will begin prioritizing transactions with a minimum transaction fee threshold because miners are incentivized to focus on the transactions that will yield them the highest fees. Transactions with a fee lower than the threshold will be removed making room for new transactions with higher fees.

  3. A growing mempool effects transaction fees by the sizes of the transaction in bytes. The bigger the size means the higher the fee because more space is being taken up in a single block with limited size.

#673

  1. The mempool is the list of unconfirmed transactions on the blockchain.

  2. The transactions with the highest sat/b rate of fees will be added to the next block first, and the rest will have to wait which means longer transaction times.

  3. Growing mempools drive up transaction fees.

#674

  1. Where unconfirmed transactions wait to be added to the blockchain.

  2. Mempool grows

  3. The transactions with higher fees will get done first.

#675

  1. A mempool is where a transaction waits to be verified.

  2. if the miners cant keep up with the rate of new transaction, they start picking the transactions with the higher fees and others have to just wait their turn.

  3. Well, the way it was explained, I believe its the transaction fees that effect the mempool, because higher fees would categorize the order in which the miners verify. please tell me if this is wrong

#676

  1. Mempool is a “waiting area” that stores pending TX

  2. The mempool becomes larger in size and fees may be increased.

  3. The fees will increase due to the miners choose to mine more fees transaction first.

#677

The only way for the high fees to persist is for the mempool to get bigger and bigger. If only 1 person decides to pay a fee of 10$ the average fee would still probably be in cents. But if enough people start to want to use the network and keep out biding each other to 10$ then you wouldn’t be able to make a transaction quickly unless you pay 10$ fees.

#678

What is the mempool?

Each node has a mempool and it is where unconfirmed transactions are stored until a miner adds it to a block to be appended on the blockchain

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

the mempool grows if miners can’t process transactions fast enough

How does a growing mempool effect transaction fees?

the larger the mempool the greater the transaction fee will have to be to get your transaction processed the quickest

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#679

  1. Mempool is a list of all unconfirmed transactions that are yet to be added to the blockchain which is shared by all nodes

  2. The unconfirmed transactions get added to the mempool.

  3. A higher fee ensures that a particular transaction gets more preference over other transactions to be added to the blockchain

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#680

1.-
Is the set of transactions that are kept on memory during the process on which a new block is created.
The mempool is mantained by the nodes and transactions are kept there until the block where they are included are confirmed.

2.-
Once mempool reaches full capacity, nodes will start to prioritize transactions by establishing a minimal transaction fee.

3.-
Bigger mempool will increase the time taken for transactions to be confirmed assuming that the block still the same size.
If user want a transaction to be confirmed faster, the protocol push to pay more.

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#681

  • What is the mempool?
    Unconfirmed transactions waiting to be mined and confirmed.

  • What happens if the miners can’t keep up with the rate of the new transaction?
    The mempool grows larger and there will be longer transaction times.

  • How does a growing mempool effect transaction fees?
    When the mempool gets larger, the confirmation process will take longer. Miners will always choose to mine for the highest transaction fees.

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#682
  1. What is the mempool?

The mempool is a log of unconfirmed transactions within a node. The mempool may not be the same in all nodes.

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

If miners can’t keep up with the rate of new transactions the mempool backlog grows larger and larger.

  1. How does a growing mempool effect transaction fees?

A growing mempool affects transaction fees by increasing fees. Larger fees are created to prioritize transactions.

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#683

  1. The “memory/cache” of the combined network, transactions being processed before going onto the permanent blockchain.

  2. Goes up

  3. Comes down

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