Homework on Mempool - Questions

The mempool is a data structure found at every node along the blockchain network. It holds all unconfirmed transactions, though in no particular order.

If miners can’t keep up with the rate of the new transaction then the mempool grows in size. Higher fees may occur during this situation and until the mempool shrinks down again.

A growing mempool effects transaction fees by causing them to rise. Miners are looking to be efficient and get as many bytes onto a block as they can; a backed up mempool creates complications for miners, thus higher fees.

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1.) Mempool is a data structure contained by each node that stores unconfirmed transactions. Mempools may be different for each node.
2.) The mempools grows.
3.) Higher transaction fees

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  1. The mempool is the location where a node stores all unconfirmed transactions. The mempool is propagated (common) between all the nodes. These unconfirmed transactions are awaiting to be included in the blockchain by a miner.

  2. The mempool increases in size and only the transactions with the highest fees get selected to be included in the next produced block.

  3. Transaction fees will be higher, otherwise a transaction with a lower fee will never get confirmed.

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  1. What is the mempool?
    The mempool is a database of all the pending transactions on the BTC blockchain at any given time.

  2. What happens if the miners can’t keep up with the rate of the new transaction?
    The mempool backs up and transactions take longer to get confirmed.

  3. How does a growing mempool effect transaction fees?
    Users of the network pay higher fees in order to get their transactions confirmed faster since miners have a financial incentive to add transactions to their blocks with higher fees.

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a list kept by nodes of unconfirmed transactions that have at least passed the protocols for validation and have yet to be confirmed in a block.

mempool grows and results in longer transaction times

growing mempool means the transaction offering higher fees get taken first.

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  1. Pending Tx are stored in Mempool
  2. Mempool grows, longer Tx time, and expensive Tx fee
  3. Tx with higher fee are taken first
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  1. The mempool is a list of unconfirmed transactions
  2. The pool backlogs/increases in size
  3. Fees are increased to incentivize miners to process txns
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  1. A mem pool is a memory pool of transactions to be picked up by the miners.
  2. If the miners can’t keep up with the new transactions, only the transactions with the highest fees will be mined, thus leaving lower fee transactions delayed/pending or cancelled all together(uniswap)
  3. A growing me pool will increase transaction fees as the higher the fee the higher the likelihood of being included in the next blocks.
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  1. A place where unconfirmed TX wait to get confirmed by miners.
  2. The mempool grows increasing TX time.
  3. Fees also increase because miner competition grows. Transactions with the highest fees will go first.
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  1. The mempool is a list of all unconfirmed transactions on the blockchain which have been pre-approved by the nodes.

  2. If the miners fall behind, the mempool grows.

  3. A growing mempool would lead to higher fees as transactors compete for miners’ services.

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  1. where the nodes put the unconfirmed transactions
  2. the mempool grows larger
  3. To have the transaction confirmed in a timely manner the fees go up as the miners can choose transactions with higher fees
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  1. The mempool contains all of the pending transaction on the blockchain.
  2. If miners can’t keep up with transactions, the transactions take longer to process.
  3. The larger the mempool is, the higher the fees will be.
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  1. The mempool is the pool of unconfirmed transactions floating around on nodes waiting to be picked up by miners.
  2. The pool of transactions increase.
  3. This creates more demand for the miners attracting larger tx fees.
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  1. A mempool is a list of all unconfirmed transactions.
  2. The mempool grows which benefits miners in the long run
  3. A growing mempool increases transaction fees, because its based transaction by byte size.
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  1. What is the mempool?

collection of numerous transactions residing in a block pending for confirmation into the block chain
2. What happens if the miners can’t keep up with the rate of the new transaction?

Once the Mempool reaches full capacity, the nodes start prioritizing transactions by setting up a minimal transaction fee threshold. they can also direct the overflowing transactions to other nodes. At times some transactions may never make it ,which in turn will result in transaction being canceled.

  1. How does a growing mempool effect transaction fees?
    Fees are increased in order to control the transaction flow
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Transactions in a mempool are not yet part of a block :slight_smile:

The transaction fee actually grows organically by parties that want their transaction to get in the block as soon as possible when there is congestion. It is not actually a value set by the miners in particular :slight_smile:

Transactions in a mempool are not yet part of a block :slight_smile:

Gotcha thanks !

mempool is the space where all unconfirmed transaction go

mempool grows larger and so do transaction times

if it is a growing mempool transaction with higher fees will go first

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  1. A store of transactions that have not been finalized
  2. If miners can’t keep up with the rate that transactions are being posted to the mempools, the mempools will grow larger and processing times for transactions will be longer
  3. Transactions compete to be in the next block in the blockchain, wanting to get processed or finalized first. Larger mempools mean larger transaction fees as miners want to make money and transactions that pay larger fees are selected by miners from the mempools before transactions that are paying lower transaction fees
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  1. Mempool is a list of unconfirmed transactions that each node has. Those trbansactions wait to be validated and mined into a block

  2. The mempools grow miner’s fees increase.

3.Fees will grow.

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