Homework on Mempool - Questions

Blockchain and Bitcoin 101
#1086
  1. list of all transaction in the nodes before miners verification.
  2. traction mempool get bigger and slower.
    3,the transactio fee increase.
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#1087
  1. List of all unconfirmed transactions.
  2. The mempool gets large which translates in to longer wait times.
  3. The transactions fees be higher.
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#1088

What is the mempool?
The mempool is where transactions that have been verified by a node are stored prior to being confirmed by a miner.
What happens if miners can’t keep up with the rate of new transactions?
The number of transactions in the mempool increases.
How does a growing mempool effect transaction fees?
A larger mempool will garner higher fees since the miners will preferrentially select verified transactions to confirm that will pay them the highest fees

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#1089
  1. Mempool is the total UTXOs waiting to be put into a transaction by a miner.
  2. They will choose the transactions with the highest fee sat/byte to put into the blockchain and thus wait times will get longer if you have a smaller transaction fee sat/byte.
  3. The more the mempool grows the higher the competition is to be put onto the blockchain and thus more sats are needed to get onto the blockchain.
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#1090
  1. it is a database or pool of unconfirmed transactions
  2. they give priority to transactions with higher fees.
  3. transaction fees expected will rise
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#1091

It’s a pool of unconfirmed transactions on a node that are awaiting to be written to the block.

It will get larger and then the minors will start to reprioritize the transactions and choose the higher fee transactions as likey everyone, the minors want to make money!

I would assume the transaction fees would increase as the block(s) waiting to be written to would be more valuable so it would simply charge more. Let us hope there are no rouge minors out there!

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#1092

QNS 1. What is the mempool?
Mempool is a pool of unconfirmed transactions which are waiting on a node.

QNS 2. What happens if the miners can’t keep up with the rate of the new transaction?
The amount of unconfirmed transactions will be larger and miners will priortize the transactions which are higher in fee.

QNS 3. How does a growing mempool effect transaction fees?
A growing mempool will increase the transaction fees as there will be large amount of unconfirmed transactions competing with each other in fees.

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#1093

  1. A mempool is a non-blockchain storage that nodes use to store unconfirmed transactions.

  2. Fees go up as well as total unconfirmed transactions.

  3. As answered in 2., fees go up.

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#1094

  1. The mempool is a place where unconfirmed tracations are stored.

  2. If miners cannot keep up with the rate of new transactions, the mempool will grow and fees will increase due to competition caused by incentivised miners.

  3. A growing mempool will in turn cause transaction fees to increase.

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#1095

Homework on Mempool - Questions

  1. What is the mempool?

The mempool is a list with unconfirmed transactions waiting to be picked up by a miner and set into a block.

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

The mempool increases with unconfirmed transactions

  1. How does a growing mempool effect transaction fees?

Miners picks up the transactions with the highest fees, so the average fee will be higher

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#1096

  1. Every node has its own mempool where unconfirmed transactions are saved. The mempools share the information among one another until a new block is mined and the transactions are confirmed.

  2. the miners handle the best paid transactions first and leave the low fees for later.

  3. transaction fees go up.

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#1097

Homework in Mempool

  • Questions What is mempool?

It is a temporary memory where user transactions are momentarily stored.

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

The mempol grows, the transaction confirmation times to enter the blocks are longer.

How does a growing mempool affect transaction fees?

While a mempool is growing, transaction fees are also increasing

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#1098
  1. Mempool is a list of outputs from nodes that has yet to be confirmed and put on the blockchain by a miner.
  2. It would take longer for transactions to get confirmed
  3. Because miners are wants to make money, they will go for the transactions that has the highest fees. Making the fees go up!
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#1099

Homework on Mempool - Questions

What is the mempool?

  1. A mempool is data that is stored on all the network which gathers all the unconfirmed transactions. The miner will be collecting from the mempool all the unconfirmed transactions from the nodes and build the next block on the blockchain.

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

  1. That is where competition comes in the market. If the miners can’t keep up with verifying the unconfirmed transactions more would join the network to be reward the fees for creating the new block. If miners can’t keep up with rates of new transactions then the current block confirmation time will slow down and take longer for transaction to be confirmed.

How does a growing mempool effect transaction fees?

  1. With a growing mempool the miners have to deiced what transactions from the mempool has the best sats/B return. Due to specific space required per block, miners are looking for the best sat/b return on the fee. With Miners incentives being to confirm transactions and keep the fee, they will be looking for the best sats per bite they can make. Leaving transactions with lesser fee being taken longer for miners to confirm and create into a block.
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#1100
  1. What is the mempool?

The mempool is where all unconfirmed transactions sit waiting to be added to a block by a miner.

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

Then the mempool will grow and transactions with the biggest fees will go to the front of the que to be added to a block.

  1. How does a growing mempool effect transaction fees?

Fees will increase.

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#1101

Good question @frabosce! Yes, miners will keep confirming transactions, choosing the ones with higher fees first. Eventually people will stop sending as many transactions as before, because they will have to wait a longer time and pay more fees, so this will decrease the mempool when transactions get processed. Also, unconfirmed transactions can be deleted from the mempool when they have been there for a long time.

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#1102

Good question! That transaction can stay in the mempool until some miner decides to include it in their block, but it will be the last option, because of the small fee. After certain time, transaction can be deleted from the mempool too.

#1103
  1. The mempool is the node’s holding area for all the pending transactions. It is the node’s collection of all the unconfirmed transactions it has already seen enabling it to decide whether or not to relay a new transaction.
  2. the backlog of the mempool builds up.
  3. Bitcoin mempool size spikes, transaction fees increase

Payments made by users await in the mempool until miners arrive to confirm the transactions As a consequence, transaction fees of Bitcoin recommended by wallets surged up to $30, depending on the size of the transaction and the number of inputs or outputs

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#1104

1. What is the mempool?
A mempool is the list of unconfirmed transactions.
2. What happens if the miners can’t keep up with the rate of the new transaction?
The mempool grows and the transaction time takes longer
3. How does a growing mempool effect transaction fees?
When mempool grows larger higher transaction fees are bid as incentive to miners’ priority in order to squeezed into next block.

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#1105
  1. list of how many unconfirmed transaction there are + their fees
  2. mempool files up with pending tx’s: more time
  3. Tx’s fee go up
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