Homework on Mempool - Questions

Blockchain and Bitcoin 101
#985
  1. What is the mempool?

Mempool is the pool of unconfirmed transactions in each full node on the network.

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

The mempool size increases with new unconfirmed transactions.

  1. How does a growing mempool effect transaction fees?

With a larger mempool, new transactions may command higher fees in order to incentivise miners to confirm them.

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#986
  1. A mempool is a data structure of nodes of unconfirmed transactions.
  2. The size of the mempool increases.
  3. A growing mempool will increase the transaction fees.
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#987
  1. Mempool is all unconfirmed transactions
  2. Longer transaction times
  3. Bigger transaction fees
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#988

A mempool is a list of unconfirmed transactions that a node has received.

If the miners can’t keep up, it will lead to longer times for transactions to be confirmed on the blockchain which means the mempool will grow.

The larger the mempool grows, users will need to send with higher fees to receive priority of the miners, or endure longer waiting periods for transaction confirmation.

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#989

It can take a little bit longer that it will be confirmed in the blockchain (because it is getting less priority by the miners). If you would like to have a faster confirmation you need to pay a higher fee.

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#990
  1. What is the mempool?
  • A database of unconfirmed transactions that gets passed from node to node. Miners choose the most profitable transactions from the mempool.
  1. What happens if the miners can’t keep up with the rate of the new transaction?
  • The mempool grows and transactions on average take longer to process. This is good for miners as there are more transactions to choose from.
  1. How does a growing mempool effect transaction fees?
  • Wallets raise transaction fees in order to get a transaction processed in sensible time.
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#991
  1. Mempool is a record of unconfirmed transactions in each node.
  2. If miners can’t keep up with transactions, transaction times will increase.
  3. Growing mempools can increase transaction fees to incentivize miners to convert it to a block.
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#992

1. What is the mempool?
a. The mempool is a holding area for all unconfirmed transactions picked up by a Bitcoin node
What happens if the miners can’t keep up with the rate of the new transaction?
a. The mempool will keep growing, along with the fees
How does a growing mempool affect transaction fees?
b. Transaction fees will go up, because the average sat/B ratio is not high enough for miners to commit transactions to a block

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#993

What is the mempool?
Unconfirmed transactions

What happens if the miners can’t keep up with the rate of the new transaction?
transactions will take longer to confirm

How does a growing mempool effect transaction fees?
transactions with a higher fee will be processed first, therefore fees may increase in order to have your tx processed

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#994
  1. a list of unconfirmed transactions
  2. the mempool will grow and transactions will take longer to be confirmed.
  3. transactions are prioritized on the basis of the fees, sat per byte. the largest fees will come first. So with a large mempool the prices will go up.
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#995
  1. list of unconsummated transaction
  2. transaction time increase
  3. fee increase and miner will choose first the transactions with bigger fee.
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#996
  1. Its a chart where you can see all transactions waiting to be confirmed by miners
  2. Transaction times wil be longer
  3. Fees increase if the satoshi/bite rises
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#997

  1. Mempool is a database of unconfirmed transactions.

  2. If miners can’t keep up, the memepool grows larger, transactions take longer to verify and fees go up.

  3. Fees go up because miners have a deathmatch to get to the transaction with the highest fee first.

1 Like
#998

Homework on Mempool - Questions

  1. What is the mempool?
    The mempool is the node’s holding area for all the pending transactions.

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

  3. How does a growing mempool effect transaction fees?
    The miners may chose the transaction with the higher fee to confirm orders.

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#999

  1. The mempool is the outstanding group of unconfirmed transactions in the blockchain.

  2. If miners can’t keep up with the rates of new transactions, they will pick the transactions with the highest fees first, to add them to the newest blocks. This is because the miners get the fees from these transactions.

  3. Transaction fees will grow if the mempool is larger, because users will inevitably compete with each other to get their transactions processed more quickly.

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#1000

  1. The mempool is a list of unconfirmed transactions each node has, it can slightly vary from node to node but sooner or later they will end up with the same.

  2. Mempool will become larger which can also increase tx fees

  3. Yes, because miners will chose the tx’s with the highest fees to put on a new block. With more competition to get in the block, people may rise the fee in order for their transactions to get into the new block creating a higher standard fee.

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#1001

What is the mempool?

Temporary store for unconfirmed transactions

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

The mempool with get bigger.

How does a growing mempool effect transaction fees?

Fees will increase.

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#1002

  1. The mempool is the list of unconfirmed transactions waiting to be added to a block.

  2. A mempool backlog accumulates

3.transaction fees will be higher

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#1003

The mempool is the storage pool of unconfirmed transactions. Miners will pick transactions up from either their own mempool or the mempool of nodes and add them to blocks at which point the transactions become confirmed. Each node can have a slightly different mempool because transactions may not propagate all throughout the network, at first, but over time they will.

If miners can’t keep up with the rate of the new transactions then the size of the mempool increases and the time that it takes to confirm transactions may also increase.

A growing mempool will increase transaction fees as most people will pay a higher fee to avoid waiting a long time for their transaction to confirm.

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#1004
  1. Mempool is where all uncomfirmed transactions are.
  2. Mempool will be bigger, fees will be higher.
  3. Transaction fees increases.
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