Homework on Mempool - Questions

1.record of pending unconfirmed transactions
2.Transaction approval may take longer because mempool will grow
3.transaction cost may be higher .If blockchain is busy and mempool will grow miners can and will prioritize transactions with a higher fees

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  1. Ledger of all transactions
  2. Backlog grows
  3. The fees go up
  1. A mempool is a data structure chart of unconfirmed TX’s each node holds until a minor puts it into a block.
  2. mempool grows and tx’s take longer to confirm, grow in byte size, so tx fees go up
  3. The mempool gets bigger and size of bytes needed go up, thus minors include all for higher fees.
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  1. The mempool (memory pool) is the “waiting room” of unconfirmed transactions waiting to be picked up by a miner in order to be confirmed in a new block. The mempool of each (full)node can vary, for example it can depend on how many unconfirmed transactions have reached a single node.
    Once a transaction has been confirmed (=being added to the next block), the nodes remove it from the mempool.

  2. the mempool continues growing and it can take more time for your transactions to be confirmed.

Not having been said by Ivan in the videos (so I’m unsure if the following infos are correct :wink: ): Believing what is written in the linked article at the beginning of this thread, in case of a full mempool nodes can start inserting only new transactions with a certain minimum fee to their mempool. Also being written in the above mentioned article: after 72 hours of being in a node’s mempool, an unconfirmed transaction will be removed. Being spread through the whole network of nodes, it is probable that other nodes still keep the unconfirmed transaction in their mempool, sharing this information with other nodes and so on… so, theorically an unconfirmed transaction could hang around in node’s mempools also in eternal.

  1. Miners start picking up the unconfirmed transactions with bigger transaction fees. As a consequence, if I want to have my transactions to be confirmed I have to increase my fee.
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  1. What is the mempool?
    The mempool keep track of all unconfirmed transactions until they are processed by a miner.

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

  3. How does a growing mempool effect transaction fees?
    You might need to pay a larger fee to get your transaction confirmed faster because miners will choose the most profitable transactions first.

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1 A space where transactions that have been sent toward the blockchain but net yet have been picked up by a miner.
2 The rate of the new transaction the mempool continues to grow and the fees increase.
3 More growth higher the fee.

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1.- A mempool is a structure which each node has that contains all the unconfirmed TX’s of the blockchain, waiting to miners pick them up and add it to a block
2.- Mempool will grow and the TX’ll take more time to get confirmed and added into the blockchain
3.- Miners choose first the TX with the higher fees, so if the mempool starts to grow, more fees need to be paid to avoid the delay of your unconfirmed TX.

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  1. Mempool shows all unconfirmed transactions as well as the individual transaction fees.
  2. Mempool becomes larger and fees potentially increase in order to secure fast transaction and broadcast.
  3. It can lead to increased transaction fees.
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  1. What is the mempool?
    The place TX goes untill they are confirmed and been put in a block by the miners.

  2. What happens if the miners can’t keep up with the rate of the new transaction?
    The mempool grows and the fees may grow as well.

  3. How does a growing mempool effect transaction fees?
    growing memepool> fees increases> competition among miners.

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  1. What is the mempool? A list of unconfirmed transactions located in each node.
  2. What happens if the miners can’t keep up with the rate of the new transaction? pending transactions and fees increase
  3. How does a growing mempool effect transaction fees? Transaction fees will be more expensive due to competition as the miners are incentivized by Sat/B
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  1. a place for unconfirmed transactions
  2. it leads to overload of pending transactions in the Mempool
  3. increases the fees
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1: The mempool is a list of unconfirmed transactions. Each node has a mempool. The mempool of one node may be different to the mempool of another node, although over time they should look alike.

2: The mempool will grow. This can mean longer times to confirm transactions and maybe more expensive fees.

3: It will make the transaction fees more expensive as people don’t want to wait too long for their transaction to go through.

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1 The mempool is memory of unverified transactions which is stored in nodes. Transactions waits there to be taken for miners and added to the blockchain.
2 Mempool grows
3 They will take those with the highest fee

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  1. What is the mempool? A mempool is a data structure that each node has, basically a list of unconfirmed transactions.

  2. What happens if the miners can’t keep up with the rate of the new transaction? the mempool gets backed up and the transactions times get longer.

  3. How does a growing mempool effect transaction fees? fees will rise and miners will choose transactions with the higher fees first.

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What is the mempool? It is the TODO list of pending transactions to insert into the blockchain that has every full node in the network and provides the miner with the work to do.

What happens if the miners can’t keep up with the rate of the new transaction? This will act as a bottleneck and if the transaction in the mempool takes too long to be picked by the miner then it will be cancelled and the value involved returned to the issuer, prioritizing the transactions more attractive to the miner. The faster the miners produce blocks the better the network will work and user population may grow.

How does a growing mempool effect transaction fees? When mempools grow to full capacity and new transactions are coming in then the transactions with fees lower than a threshold are removed and only transactions with higher fees are allowed to enter de pool for the miner to pick.

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  1. What is the mempool?
    All of the unconfirmed transactions with associated fees

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

  3. How does a growing mempool effect transaction fees?
    Growing mempool will cause transaction confirmations to slow and fees increase.

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  1. What is the mempool?
    The mempool is a list of unconfirmed transactions that were sent by a node

  2. What happens if the miners can’t keep up with the rate of the new transaction?
    The mempool gets backed up with more transactions

  3. How does a growing mempool efffect transaction fees?
    Fee prices increase to compete for validation

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  1. The mempool is where unconfirmed transactions are stored within a node, waiting to be accepted into a blockchain.
  2. If the miners can’t keep up with the rate of new transactions, the mempool increases in size, resulting in longer transaction times.
  3. Miners prioritize transactions with the highest fees. In a growing mempool, one would need to pay a higher fee in order for their transaction to be processed quicker.
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1- mempool where not confirmed transactions are stocked
2- mempool grows if miners cant keep up the rate
3 - well if mempool grows, the fee transaction increases, and competivity of fee starts. The highest rate transactions fee will be chosed by the miners first.

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[1] A mempool is a holding area of unconfirmed transactions that is stored in each node in the blockchain network.

[2] If miners can’t keep up with the rate of new unconfirmed transactions, then the size of their mempool will grow.

[3] A growing mempool usually would necessitate a payment of higher fees if one wants to ensure quicker processing of their transaction.

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