Homework on Mempool - Questions

Blockchain and Bitcoin 101
#1768

[quote=“ivan, post:1, topic:8438, full:true”]
Homework on Mempool - Questions

1.- Mempools is a database structure that keeps all the transactions that have no been taken for a miner and therefore are not yer appended to the blockchain.

2.- the number of transactions in the mempool will increase, causing more time to be appended to the blockchain.

3.- Miner will choose the transaction with the higher fee.

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#1769

  1. What is the mempool?
    The mempool is where unconfirmed transactions are kept until a miner chooses the transactions to add to a block.

  2. What happens if the miners can’t keep up with the rate of the new transaction?
    When miners can’t keep up with the mempool, the pool grows larger and the transaction time is slower.

  3. How does a growing mempool effect transaction fees?
    When a mempool grows larger in size, the competition for transactions to be confirmed increases and therefore users offer larger fees for their transactions to be completed sooner.

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#1770

  1. A waiting area for unconfirmed transactions and where miners go to select transactions to confirm.

  2. The system slows down and fees increase.

  3. As more people wait for transactions to be completed, they start to offer miners higher fees to attract their attention in hopes of being selected for the next blocks. Miners are driven by profit so they select the transactions with the highest fees.

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#1771

Homework on Mempool - Questions

  1. What is the mempool?
    It is the uncomfirmed transactions waiting to get confirmed by all nodes
  2. What happens if the miners can’t keep up with the rate of the new transaction?
    The mempool gets larger in size and the new transactions may take longer time to get confirmed and this may cause higher fees.
  3. How does a growing mempool effect transaction fees?
    It increases the transaction fees
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#1772

A mempool is a datastructure on a node that holds a list of unconfirmed transactions.

A miner will pick the transactions from a mempool with the highest fee, and the mempool grows.

A growing mempool will result in increasing transaction fees required before miners incorporate the transactions in a subsequent block.

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#1773
  1. What is the mempool? It’s where all the unconfirmed transactions hang out
  2. What happens if the miners can’t keep up with the rate of the new transaction? There will be longer transaction times
  3. How does a growing mempool effect transaction fees? Transactions with higher fees are prioritized so if you want faster transactions you have to pay more
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#1774

The system actually works with a more or less constant rate, it would just mean more transactions are left in the mempool. :slight_smile:

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#1775

  1. A mempool is a list of unconfirmed transactions that have yet to be added to the blockchain.

  2. The transactions would then take longer to be confirmed and mempool would grow in size.

  3. Fees would go up.

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#1776
  1. Mempool is the list unconfirmed transactions.
  2. Mempool and transaction fee will increases.
  3. It increases the transaction fee.
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#1777
  1. Mempool is the holding area that stored all the valid and unconfirmed transactions, and are picked up by the nodes.
  2. Mempool will have more transactions or backlog.
  3. Higher transactions fees will be pick up by the miners first, thus lower fees will take longer to be push to the blockchain.
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#1778

  1. What is the mempool?
    Answer: The mempool is a data structure of all unconfirmed transactions awaiting validation.

  2. What happens if the miners can’t keep up with the rate of the new transaction?
    Answer: If the miners can’t keep up with the rate of the new transaction, then the mempool gets bigger and miners will prioritize higher fee transactions.

  3. How does a growing mempool effect transaction fees?
    A growing mempool will increase transaction fees because miners are incentivized to confirm transactions. When the network is busy, they will confirm higher fee transactions and the low fee transactions will be neglected or remain low priority until the mempool regulates.

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#1779
  1. The mempool is the data structure that each node in a blockchain network uses to keep a list of all unconfirmed transactions in that blockchain network. Each node in the network has its own mempool consisted of all transactions that each particular node has verified. So the mempool of each node in a single blockchain network will not all be exactly the same.
  2. If the miners cannot keep up with the rate of new transactions in a mempool, then fees will increase for transactions to be confirmed and the transactions will take longer to be confirmed because there would be a higher volume of transactions that the particular miner has to deal with.
  3. A growing mempool will increase transaction fees because the appropriateness of the fees paid to miners is based on the amount of satoshi per bytes of space in the blockchain for the miner to confirm a transaction The larger the mempool, the more space in a particular block becomes high in demand so transactions with higher paid fees are buying their spot in the front of the line of transactions to be confirmed by the miner.
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#1780

1- A mempool is a list (data pool) of unconfirmed transactions, with should be very similar across nodes, but not necessarily the same
2- There is a backlog and they will prioritze those with the higher fees (sat/byte)
3- A growing mempool should increase the transaction fees as there will be more unconfirmed transactions competing for the same blockspace

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#1781

1. What is the mempool?
a list of all transactions that havent been added to the blockchain yet
2. What happens if the miners can’t keep up with the rate of the new transaction?
the mempool becomes fill with transactions which means people will increase there transaction fee so there transaction will be priorities over the others
3. How does a growing mempool effect transaction fees?
the more transactions there are in the mempool the more people will be inclined to increase there transaction so that miner priorities there transaction over the others

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#1782

1 - A mempool is a place where ‘checked’ but unconfirmed transactions are stored temporarily until processed by a miner a put into a block.

2 - The mempools get bigger and the time for a transaction to get confirmed will be longer.

3 - Transaction fees will get higher because in this situation the miners will choose transactions with the highest fees first and if you’ll want your transaction to be processed you’ll need to pay such high fees.

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#1783
  1. What is the mempool?

Mempool is the collection of unconfirmed transactions on a node.

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

The unconfirmed transaction goes to the Mempool.

  1. How does a growing mempool effect transaction fees?

The increase competition therefore increase fees to be processed.

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#1784

  1. The Mempool is the list of unconfirmed transactions on the nodes

  2. The Mempool list of transactions will increase if the miners can’t keep up

  3. A growing Mempool will increase the value of transaction fees as space (bytes) on the block is limited

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#1785

  1. mem pool are a aggregated list of valid and unconfirmed Transactions.

  2. mem pool gets larger, resulting in longer transaction times and higher fees

  3. more competition to add your block into the blockchain, so you have to pay higher fees to incentivize the miner to add your transaction.

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#1786

  1. A mempool, memory pool, is where transactions are parked before they enter into the block or mined. Each Node has the same list of transactions in transit waiting to be mined for the right fee.

  2. Then the time it takes to complete the transaction will be more, the better the rate the faster the transaction.

  3. Fees go higher with larger volume of mempool since competition for mining transactions and getting them mined faster is increased.

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#1787
  1. unconfirmed transactions
  2. the mempool will increase
  3. transaction get more expensive
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