While the transaction times may drop for a short period of time due to new miners, the difficulty of the network will be adjusted slowing the bitcoin network down again. Bitcoin has an average of 2000 transactions per block no matter what. 
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Homework: Mempool
- A data structure for unconfirmed transactions.
- Mempool grows with unconfirmed transactions.
- A larger mempool means more expensive transactions fees. The mempool becomes a transaction marketplace for miners.
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- The mempool is the place where nodes put transactions waiting for miners to take, confirm and add to the blockchain. Think of the mempool as the “waiting area” that transactions go to before they are released.
- The mempool will get bigger and transactions will take longer to get confirmed. In addition, senders will be forced to pay higher fees if they need to send transactions quickly. This was what happened during the 2017 bubble.
- A growing mempool will cause congestion and therefore increase fees because miners will cherry pick those transactions in the mempool that will earn them the highest fees and leave the lowest fee earning transactions to last.
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1. What is the mempool?
It is a pool of unconfirmed transactions waiting for miners to put them on the block.
2. What happens if the miners can’t keep up with the rate of the new transaction?
Transaction confirmation time will escalate
3. How does a growing mempool effect transaction fees?
The fees will increase.
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What is the mempool?
The Mempool is where a Node stores Unconfirmed transactions. There you find information about how much you can earn per bite (Satoshi per bite) -
What happens if the miners can’t keep up with the rate of the new transaction?
There would be an issue with slow transactions. But the Mempool would grow the fees that the transactions get attracted. -
How does a growing mempool effect transaction fees?
They will increase
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The Mempool is the node’s holding area for all the pending transactions.
The Mempool is filling up with pending transactions and the Fees increase because of that.
The Fees will increase.
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The mempool is a data structure used by nodes to store a list of unconfirmed transactions
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The mempool grows, and transactions generally take longer to be mined
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The end result is typically higher fees, since you want your transaction to be mined in a reasonable timeframe
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- Mempool is a list of all unconfirmed transactions on a node.
- If the miner can’t keep up with the rate of transactions, the mempool will enlarge and there will be longer transaction times.
- And if the mempool is growing, this incentivizes the miners with higher fees. the transactions with higher transaction fees become higher priority.
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What is the mempool?
the home of unconfirmed transactions pending -
What happens if the miners can’t keep up with the rate of the new transaction?
traffic jam ! unsatisfied people…time of transaction increasing -
How does a growing mempool effect transaction fees?
the biggest fees / transaction are selected by miners
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Homework on Mempool - Questions
1. What is the mempool?
A full-nod will receive a list of UTXO:s (inputs and outputs) transaction from wallets, and it will sooner or later be spread out to all nodes in the networks.
Each nod will save the collected list of unconfirmed transactions in the mempool, if none protocol violation is done. Before a block is appended to blockchain and gets confirmed , a miner need to pick it from mempool and usually picks the block witch gives the highest fees as rewards is in sat/bit in the block. When a block is appended to blockchain the list of UTXO:s will be removed from mempool by all nodes.
2. What happens if the miners can’t keep up with the rate of the new transaction?
The size of the mempool will be increased more and more, and that will cause increase of fees for transactions, and by that give more rewards for miners to work harder to pick up unconfirmed transaction an append them to blockchain and get better than normal rewards.
3. How does a growing mempool effect transaction fees?
Will cause increase of fees for transactions, and by that give better than normal rewards for miners.
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A mempool is a data structure that each node has that has a list of unconfirmed transactions.
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If the miners cannot keep up with the rate of the new transactions the memepools grow larger and the transaction times increase
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A growing mempool will result in longer time needed for transaction and higher fees.
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- What is the mempool?
Answer
Mempool is a place where unconfirmed transactions go and wait for a miner to be picked up and confirmed.
- What happens if the miners can’t keep up with the rate of the new transaction?
Answer
The size (or the number of transactions inside the mempool waiting) grows.
- How does a growing mempool effect transaction fees?
Answer
A growing mempool increases the average fee rate. Spenders’ transactions have to compete against other spenders’ transactions for the limited space on the block. As the mempool grows, because of increased transactions waiting to be confirmed, spenders have to increase their fees to be more attractive to miners so their transaction gets picked before the competition.
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- What is the mempool?
- What happens if the miners can’t keep up with the rate of the new transaction?
- How does a growing mempool effect transaction fees?
- Mempool is a list of unconfirmed transaction that each node holds.
- There will be more and more mempool with unconfirmed transactions and it will take time to get confirmed.
- It causes transaction jams on network and transactions with highest fees will be selected and get confirmed. So, transaction cost will be increased.
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What is the mempool?
A list of unconfirmed transactions, held by each node.
What happens if the miners can’t keep up with the rate of the new transaction?
The mempool grows, i.e. the list of unconfirmed transactions gets longer.
How does a growing mempool effect transaction fees?
Wallets will suggest higher fee’s to guarantee decent confirmation time for the transaction.
You may ignore this, and set a lower fee, thus waiting for the mempool to shrink.
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The mempool is the list of all unconfirmed valid transactions waiting to be confirmed by network and added to a block; each node has its own local copy.
Increased number of transactions causes congestion in network’s ability to validate transactions and add them to a block, so the mempool grows larger with unconfirmed transactions and confirmation times take longer.
Because miners are monetarily incentivized, naturally, transactions with higher fees will be prioritized.
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What is the mempool?
R: The mempool is a list of unconfirmed transactions. -
What happens if the miners can’t keep up with the rate of the new transaction?
R: The mempool will grow and the transaction will take longer. -
How does a growing mempool effect transaction fees?
R: The transaction fees will increase.
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oke so aout question number 2…
2. What happens if the miners can’t keep up with the rate of the new transaction?
The anwer is … The fee will be higher?
are my other answeres right?
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It is a list of unconfirmed transactions. UTXOs are unspent outputs from a transaction 
Yes and yes! Good job! 
could you explain to me in more detail how the nonce works and how it is generated? I still don’t understand about the many 0000 in front of it etc.