Homework on Mempool - Questions

Blockchain and Bitcoin 101
#764
  1. Mempool is unconfirmed transactions awaiting for a miner to pick up.
  2. The Mempool grows larger in size.
  3. The fee’s increase.
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#765
  1. It’s a list of unconfirmed transactions, these lists need space in a memory of the block.
  2. Mempool will increase and the fees can also increase because will need more space into the block.
  3. If a block is full the whoever pays more will have priority for the miner.
#766

1.all unkonferm TX 2.mempool fill up and it will take longer time to konferm.3.miner fist take hig fee TX

#767
  1. A list of unconfirmed transactions that resides on the network nodes.
  2. I’m guessing those transactions would get pushed back to the next block.
  3. A growing Mempool would mean more work for the miners and more money in fees.
#768

1)What is the mempool?

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

3)How does a growing mempool effect transaction fees?

1)A mempool is like the storage area for the unconfirmed transactions.

2)They will pick the transactions that pay the higher fees.

3)The more transactions that have to be squeezed into a block then the higher the fee.They will charge for sat/byte of space.

#769

  1. Mempool is the list where unconfirmed transactions waits for a miner to pick up the transaction and add it into the blockchain.

  2. The time to verify the transaction would take longer as the mempool gets bigger. The transactions with highers fees will get the priority.

  3. The fee will rise.

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#770

What is the mempool?
Basically the list of all still unconfirmed transaction on a node, still waiting to be confirmed by a miner.

What happens if the miners can’t keep up with the rate of the new transaction?
Miners execute before the high rewarding transactions. A very low reward will keep long time the transaction on the Mempool

How does a growing mempool effect transaction fees?
Fees raise on the basis of the occupied bytes on the blockchain

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#771

1- The mempool is like purgatory for unconfirmed transactions
2- The memepool will grow until the miners add the unconfirmed transactions to the blockchain
3- a growing mempool increases the transaction fees

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#772

  1. the mempool is a list of unconfirmed transactions that exists in various nodes.

  2. the transaction will remain in the mempool

  3. in a growing mempool, the fees will go up since miners will choose transactions with higher fees. Demand for block space goes up.

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#773
  1. A bitcoin node contains a data structure that stores all unconfirmed transactions.
  2. The mempool will become larger.
  3. If a mempool becomes full the transaction fees may turn into a competition where users will compete to get their transactions into the next block by including higher fees. Transaction fees will then increase.
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#774

  1. The mempool is a storage for all pending transactions.

  2. The amount of pending transactions increases, this may result in fees increasing.

  3. The block will always prioritize the one with the highest fee for Sat/byte.

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#775

Homework on Mempool - Questions

  1. What is the mempool?
    A pool of unconfirmed transactions.

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

  3. How does a growing mempool effect transaction fees?
    Transaction times and fees will increase, because the miners can choose transactions with the most fees to mine first, this will make it slower for those transactions with lower fees.

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#776

If miners can’t keep up, the mempool will grow bigger in size. Transactions with low fee will probably take much longer time to get confirmed. Most wallets will ask higher fee’s. Wallets check the mempool to calculate normal fee’s (but users can always manually set the fee as well)
Miners will prioritize transaction with higher fees first. So If you want your transaction to be included in the next block, you need to pay a higher fee.

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#777

You can’t make more space in a block. The mempool will grow faster than transactions can get confirmed. Because miners will prioritize transactions with higher fee’s, transactions with low fee may take a very long time to get confirmed

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#778

Miners don’t store transactions in the mempool, but they choose transactions from this mempool to add into their block. They will prioritize transactions with higher fee’s off course. So if miners can’t keep up, the mempool will grow bigger in size and transaction fee’s must go up, otherwise your transaction can take a long time to get confirmed

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#779

if the miners can’t keep up with the rate of the new transactions, the mempool will grow bigger in size, because miners can’t confirm all transactions fast enough. So fee’s will increase and miners will prioritize transactions with the highest fee first. Wich means if you send a transaction with a low amount of fee, it will probably take a long time before your transaction will get confirmed

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#780

Not utxo’s but unconfirmed transactions.
Utxo’s are unspend outputs where you can change ownership in a transaction.

#781
  1. It’s a list of transactions that haven’t been yet confirmed by a miner.
  2. The mempool gets larger, the transactions will take longer.
  3. The transaction fees rise so that the miners pick them first.
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#782

  1. The mempool stores all unconfirmed transactions - waiting for the miners.

  2. The mempool gets bigger in the size and transaction fees goes up.

  3. If the mempool growing in the size - the miners take a first transaction with lower bytes and higher fees first because they are incentivize make a money.

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#783

Homework on Mempool - Questions

  1. What is the mempool?

Memepool is the collective unconfirmed transaction held by nodes awaiting verification and inclusion into the next blocks created by the miners

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

The size of the memepool, transaction time and assosiated transaction fees increase.

  1. How does a growing mempool effect transaction fees?

Fees will increase as transactions compete to be priority selected by miners for addition to the next blocks.

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