Homework on Mempool - Questions

Blockchain and Bitcoin 101
#1066

a. A list of unconfirmed transactions on a node.
b.The mempool will grow and the transaction time will grow longer.
c. Growing mempool means higher demand for transactions getting in the next block so they all raise there incentive in order to get there goal.

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#1067

1.That’s the list of unconfirmed transactions.
2.The mempool grows.
3.The transaction fees grow as well.

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#1068
  1. What is the mempool?
    A- A mempool is a waiting area for all bitcoin transaction
    The Mempool is a very important part of the Bitcoin network. It allows us to understand how crowded the network is and if there are “transaction traffic jams” which result in slower confirmation times and higher fees.
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#1069
  1. What is the mempool?

The location where unconfirmed transactions are held. (Transaction purgatory)

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

The mempool will grow larger and which will make for longer transaction times and higher fees.

  1. How does a growing mempool effect transaction fees?

A larger mempool will increase the transaction fee as each transaction will increase its price to get the attention of the miners in order to have their transaction confirmed faster compared to other competing transactions in the pool

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#1070

1.unconfirmed tx on nodes waiting for miners to add to block chain.
2 mempool grows in size.
3.tx fees will grow.

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#1071

1 where the unconfirmed transactions are keep
2 The Mempool grows higher.
3 Transactions fees grows bigger.

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#1072

1.) A mempool is a storage list of unconfirmed transactions.

2.) If miners cant keep up with new transactions rates the mempool size will increase as will the transaction times/fees.

3.) As a mempool grows transaction fees grow along with it.

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#1073

Hi bit,

list of all unconfirmed transactions. I would say list of all (realized) transaction is on blockchain.

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#1074 
What is the mempool?

A list of unconfirmed transactions.
Miners pick-up a transaction from the mempool -> add the transaction to a block (transaction is now confirmed) -> block is added to the blockchain.

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

The mempool grows and the transaction confirmation time becomes longer.

How does a growing mempool effect transaction fees?

Miners will prioritise transactions offering higher fees; so as a whole transaction fees rise.

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#1075
  • What is the mempool?
    • A list of unconfirmed transactions.
  • 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 transactions times.
  • How does a growing mempool effect transaction fees?
    • It will increase the transaction fees as there will be more competition to tx that pays more fees will get confirmed first.
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#1076

  1. What is the mempool? it is where the unconfirmed Tx are stored till confirmation by a miner

  2. What happens if the miners can’t keep up with the rate of the new transaction?
    It will take more time to process the Tx

  3. How does a growing mempool effect transaction fees? the pressure to choose the highest fees will come in to play

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#1077

  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?

  4. The Mempool is the place where pending transactions are kept awaiting confirmation

  5. The mempool and the processing time increases and the confirmation rate slows down.

  6. The transaction fees will increase as the miner’s will always process the higher fees first.

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#1078

  1. The mempool is a collection of all the unconfirmed transactions. Then miners choose these preferably by highest transaction fee to add to the blocks. (most fees per block as possible.

  2. If miners can’t keep up with the rate of new transactions we will see an increase in time it takes for new blocks to be produced. (Normally an average of 10 minute interval between blocks)

  3. A growing mempool effects transaction fees by causing a rise in price this happens because if you want your transaction to be mined first and put into the block you set a higher fee then the miners are incentivised to choose the higher fees first.

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#1079

Hi Paul0,
can you tell if i made a transaction with the smallest fee and every next transaction has greater fee than mine, will be ever picked my transaction from the mempool?

Just curious

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#1080

1. What is the mempool?

A Mempool is a list of validated transactions in network, waiting for a confirmation by Miners.

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

This can cause a congested Mempool, depending on how big the congestion is, confirmation can be delayed for several hours or days long.

3. How does a growing mempool effect transaction fees?

The growing Mempool leads to a growing transaction fees. Since miners love to pick tx with the highest fee, the fee market gets aggravated.

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#1081
  1. The pending transactions to be confirmed.
  2. Transaction fees goes up, those transaction with higher fees will get done first.
  3. If increase the transaction pending to be confirmed, then the fees to confirm those will also increase.
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#1082
  1. What is the mempool?
    A mempool is all the transactions that are due to be processed in realtime.
  2. What happens if the miners can’t keep up with the rate of the new transaction?
    Transaction time increases or even i radical cases become stagnated.
  3. How does a growing mempool effect transaction fees?
    The transaction feesincrease
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#1083

  1. Nodes Memory pool of transactions on the block chain not yet confirmed in a block by a miner.

  2. It will be unconfirmed / backlog in the mempool.

  3. Fees will rise.

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#1084

pool of unconfirmed bitcoin transactions

takes longer before a transaction gets confirmed (moves to the next block), so mempool gets bigger

it will make transaction fees go higher as wallets wanting to get access to the next block will have to bid higher fees to get included

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#1085

a list of transactions

the transaction sits in the mempool and it grows due to backlog

a growing mempool increases transaction fees as users pay higher fees to move up in line to get processed first

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