Homework on Mempool - Questions

[dawees]

1. all nodes have their own mempool where are unconfirmed transactions in mempool waiting for miner to take them
2. mempool is bigger so it takes more time to process transactions
3. transactions with higher fee are processed faster

[bianconeri_bear]

1. Mempool is a data structure of unconfirmed transactions. Each node has a mempool and can add your transaction to it if the transaction makes sense. A miner will pick a transaction from the mempool with highest fee and put as many as possible into the next block.

2. If the miners can’t keep up with the rate of new transactions then the mempool will grow in size and it will take longer for transactions to be confirmed.

3. A growing mempool effects transaction fees as miners will add transactions with the highest fees to the blockchain first. Fees will be higher as a result.

[Riteshtrivedi]

1. Mempool - Mempool is basically a data structure where all the unconfirmed transaction is being pushed by the respective nodes . The miners will then pickup the unconfirmed transactions , verify them and put them in to the block ( blockchain )
   After the wallet initiates transaction , it sends them to different nodes it can communicate with to verify them . and then the nodes will send all the transaction to a special place called mempool .

2. If the iners cant keep up with the rate of new transaction , there will be the backlog of unconfirmed transaction .

3. The growing mempool effects in increase in transaction fees .

[IG_McDizzy]

1. 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. If the miners can’t keep up, it will take longer for your transaction to be confirmed.

3. Transaction fees increase since a growing mempool means higher competition to get confirmed more quickly.

[Sebastian_Sporea]

1. What is the mempool?
   The mempool is a chart that shows all the unconfirmed transactions and which are the fees for certain transactions based on satoshi/byte.

2. What happens if the miners can’t keep up with the rate of the new transaction?
   The mempool will increase in size and backlog will get built.

3. How does a growing mempool effect transaction fees?
   A growing mempool will affect the transaction fees, these will go up as the miners are interested in picking up the ones with the biggest fees.

[Ipitos]

1. It stores the pending transactions
2. Transactiontimes are longer
3. If you make a cheaper transaction, it might take longer time for you, since miners prefer transactions with more fee

[angiewinehart]

1. What is the mempool?
   Mempool is a list of unconfirmed transactions waiting to be picked up by a miner

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?
   Fees go up

[RNair21]

1. The mempool is an area for unconfirmed transactions to be temporarily recorded.
2. There would be longer transaction times
3. Transaction fee would go up and larger fees are used as incentive for miners to pick the transaction first.

[Sav-age-chev]

1. Mempool is a list/data structure of unconfirmed transactions each node has. Those type of tx’s are shared between nodes and if they make sense(meaning wallet got funds and address exists) are added to their own mempool until picked to added to the ledger up by miner.

2. The mempool builds-up while the transactions with the highest fee’s are prioritised.

3. Fee’s increase due to competition between senders trying to raise the priorities of their own transaction.

[Alko89]

@Sebastian_Sporea

The mempool is a chart that shows all the unconfirmed transactions

Mempool is actually a data structure. But it can be plotted on a chart

[elrider]

Hi Alko, I’m a bit confused would you say that transactions would take much longer whilst the mempool gets bigger.
Please correct me if this incorrect.
Thanks, @Alko89

[mansoor]

1. What is the mempool?
   its collection of unconfirmed transactions sit in the node waiting to be picked by the miners

2. What happens if the miners can’t keep up with the rate of the new transaction?
   then the mempools will increase in size and numbers

3. How does a growing mempool effect transaction fees?
   it will increase the tx fees

[ANV81]

1. What is the mempool?
   It’s a place where transactions are stored, waiting to be processed by miners.

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

3. How does a growing mempool effect transaction fees?
   Transaction fees get more expensive…

[Ernesto]

1 list of transaction not confirmed
2 if the miners cannot keep up with the rate the mempool will grow and the fees could be bigger also
3.Due to the competition of adding transaction to a new block in the block chain ,bigger fees are offer to miners which is how they get rewarded to confirm and add a block

[Alko89]

You said there would be no Bitcoin as if if the mempool gets full the miners stop working. Sorry if I misunderstood your question
Yes, the cheaper transactions would take longer to confirm if the mempool grows to large to put all txs in a block.

[elrider]

Hi Alko, I like this forum and all the support I’m getting its a cool place to be.
Thanks, @Alko89

[Taran]

1. The mempool is a data structure that stores all unconfirmed transactions.

2. The mempool will inflate larger, until other miners can verify the transaction remove the transaction from the mempool and add it to the new block. When More transactions enter the mempool the transaction times lengthen

3. More expensive fee market, increasing the return in transaction fees

[thebunga]

1. memory-pool of all unconfirmed transactions awaiting a miner to add them to the next block.
2. the mempool grows, longer tx times, fee can go up due to increased demand .
3. increases fees due to higher demand relative to the number of miners. of course, this also invites more miners to enter the network which can restabilize/lower fees and tx times.

[briPod]

1. What is the mempool?
   A list of the unconfirmed transactions waiting to be processed

2. What happens if the miners can’t keep up with the rate of the new transaction?
   mempool grows in size, tx times and fees can increase

3. How does a growing mempool effect transaction fees?
   can be higher (pay more if you want to be processed faster)

[Jose76]

1._ is a list of data structure of a unconfirmed transactions .
2._ growing in size
3._ the transaction it will be more higher in fees