Homework on Mempool - Questions

[Cryptoscoot]

1.) The Mempool is all unconfirmed transactions in the node(s.)

2.) If the miners can’t keep up with the new transaction(s) then the Mempool can become back logged and transaction time will increase, especially for those transactions with lower transaction fees.

3.) Yes, a growing Mempool would probably push up the fees per transaction due to the miners picking and choosing the transactions with the highest fees in the Mempool to add to the next block.

[write2tapas]

1. Mempool is list of unconfirmed transaction in a node.

2. Number of unconfirmed transaction in mempool will be increased. So the trsanctions with lower fees will be delayed to add into the blockchain.

3. Growing mempool will attract higher transaction fees in order to get a Transaction added in the blockchain with priority .

[yash]

1. The mempool is the list or data of unconfirmed transactions happening.
   2.If miners cannot keep up with the rate of transactions the mempool will grow bigger and transaction amounts become higher as the nodes take transactions with higher fees to make money in turn slowing them and then slowing all.
   3.A growing mempool makes transaction fees higher.

[Jaroslaw_Cebula]

1. Mempool i a storage for unconfirmed transactions. I could call it a waiting room.
2. Those transactions will be added to one of blocks in future.
3. We have to pay more fee to get to a block in reasonable time.

[LeoClickWorks]

Homework on Mempool - Questions

1. What is the Mempool?

It is a storage place for unspent transactions to wait until a miner can pick them up and close the next block.

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

The mempool grows larger, becomes crowded, and transactions slow down.

3. How does a growing Mempool effect transaction fees?

The fees grow higher to compete with other transactions.

[mvanbebber]

@ivan

1. What is the mempool?

The mempool is a data structure within each node that stores unconfirmed transactions.

@ivan

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

The mempool becomes larger, filled with more unconfirmed transactions. Confirmations take longer.

@ivan

3. How does a growing mempool effect transaction fees?

Fees increase with growing mempool size, in order to process higher fees first.

[rhotoshi]

1. the collection of unconfirmed (yet to be confirmed) transactions
2. The mempool becomes crowded
3. transactions with higher fees tend to get confirmed faster so a growing mempool is an indication of higher fees necessary for transactions to be confirmed quickly

[RJCola]

1. The memory is where transactions wait to be confirmed and added to the blockchain.

2. If miners can’t keep up with new transaction rate, mempool grows, confirmation slows and fees go up.

3. Increased transactions waiting in the mempool allow miners to focus on high fee transactions causing the users to pay higher amounts if they want their transaction to be prioritized.

[Mechman]

1. List/pool of all unconfirmed transactions broadcasted to the network.
2. They will choose the transaction with they highest fees.
3. A growing mempool means more transactions in the waiting line for confirmation by the miners, miners choosing the highest paying txs, so there will be a competition between the spenders to pay higher fees than their peers so their transaction gets confirmed sooner, therefore we’ll get higher transaction fees overall.

[LTL]

1. A list of unconfirmed transactions.
2. Mempool will increase.
3. Fees will likely rise.

[VICBTC]

1. What is the mempool?
   the Mempool is a list if all the transactions waiting to be bundles into a block by all the nodes in the network

2. What happens if the miners can’t keep up with the rate of the new transaction?
   **it means longer transactrion times and higher fees **

3. How does a growing mempool effect transaction fees?
   higher transaction fees

[Jaroslaw_Cebula]

In order to understand it fully, I’ve got a qestion…
Correct me if it isn’t the right place for that.

Are nodes reciving TXs from many nodes, or just when they get the first one, they don’t ask for any other?

I will explain what i mean on the picture.

Are only green arrows allowed, or orange are also important for checking information? I guess, they are, but it wasnt said on the video from that topic.

I would be greatful for the unswear!

[Lilian]

1. Mempool is the pool where the nodes confirm the transactions, they send them into the mempool awaiting to form a blockchain.

2.If the miners can not keep up with the transactions, then no blockchains are created.

3. Miners chose transactions with high fee because the gain from it. The more you pay the faster your transaction is processed.

[manonYm]

1. What is the mempool?

The mempool is a place where unconfirmed transactions wait for a miner to pick them up to add to the next block.

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

If the miners can’t keep up with the rate then the mempool grows larger and there are longer transaction times.

3. How does a growing mempool effect transaction fees?

Transaction fees increase with a larger mempool because of the competition to get the transaction to the next block. Larger fees are offered to miners to get the transaction picked first.

[andrewb]

1. What is the mempool?

A mempool is a list of all unconfirmed transactions that is accessible by all full nodes on the blockchain. It is used by miners to add transactions to the next appending blocks in the blockchain in order to verify and confirm the transactions.

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

If the miners cannot keep up with the rate of transactions then the mempool will increase in size resulting in longer transaction times and possibly higher fees and an increase in waiting times for confirmations to be made.

3.How does a growing mempool effect transaction fees?

The fees will increase with a larger mempool because the miners have a financial incentive to add transactions which have higher fees first the each appending block.

[Finu]

1. A pool of “unconfirmed” transactions waiting to be picked up by miners.
2. The size of the mempool grows and transaction speeds get slower
3. All fees become highers since miners are taking the transactions with the highest fees.

[Alko89]

@Jaroslaw_Cebula

Are only green arrows allowed, or orange are also important for checking information?

It actually depends on the protocol, but basically the nodes gossip (like old women) to each other about the transactions they contain and if a node doesn’t have a tx that some other node is broadcasting, it will store it in the mempool and broadcast it forward to other peers

[Alko89]

@Lilian

If the miners can not keep up with the transactions, then no blockchains are created.

The blocks continue to get mined, but if not all txs go into one block they will have to wait for the next block or until they will be important enough to get included (mostly dependent on their fee)

[Ricardo_Okazawa]

1. list of pending transactions
2. the list of transactions will grow
3. fee is going up

[Jaroslaw_Cebula]

Thank you!
It was very helpful.