Homework on Mempool - Questions

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  1. What is the mempool?
    A: The mempool is a data structure in nodes that houses unconfirmed transactions while they wait to be confirmed.

  2. What happens if the miners can’t keep up with the rate of the new transactions?
    A: The mempool will grow in size, creating a longer list of unconfirmed transactions. This will create longer transaction times.

  3. How does a growing mempool affect transaction fees?
    A: As the mempool grows, the fees will rise.

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  1. What is the mempool?
    All unconfirmed transactions.

  2. What happens if the miners can’t keep up with the rate of the new transaction?
    They will be added to the memepool and stay as a unconfirmed transaction.

  3. How does a growing mempool effect transaction fees?
    The fees will go up. Since the miner will pick the ones with highest fees to add to the block. Once will lower fees will stay in memepool as unconfirmed.

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  1. A database consisting of all unconfirmed transactions waiting for approval.
  2. The fees typically go up due too supply and demand.
    3.Rising them as miners prioritize highest bidders.
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1.What is the mempool?
unconfirmed txs are in recorded in mempool of nodes until a miner accepts to put it in a block and once the tx is confirmed it goes out of mempool.
2.What happens if the miners can’t keep up with the rate of the new transaction?
the transaction fees then will increase end as a result more miners will be incentivized .
3.How does a growing mempool effect transaction fees?
when there is too many options for the miner to chose, the competition is severe and eider you should pay higher fee or wait more.

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  1. The mempool is a pool of unconfirmed transactions received by the node. If a proposed transaction makes sense to the node perhaps if the person attempting the transaction has enough funds the node will put it in the mempool.

  2. The amount of unconfirmed transactions will grow larger in the mempool, this may slow down the formation of blocks.

  3. The fees will rise as the miners will prioritise transactions with the highest fees as measured in sat/b.

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  1. The unconfirmed transactions on a node or with a miner that are waiting to be picked up by a miner for confirmation.
  2. The mempool will grow in size.
  3. Miners have a financial incentive for certain transactions since they are paid to mine. Higher transaction fees incentivise the miners to pick up those transactions first.
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  1. The mempool is a collection of unconfirmed transactions recieved by a node waiting to be confirmed by a miner.
  2. It will get larger.
  3. Fees are going to rise as miners will prioritise TXs with significantly higher fees.
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  1. Mempool is collection of unconfirmed transactions given to the node for validation and adding to the next block.
  2. It leads to longer transaction time and mempool keeps on stacking.
  3. Growing mempool leads to higher fee transaction priority and increase the transaction fee
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  1. The mempool is a repository of unconfirmed transactions found on every node, before those transactions are picked up by a miner and inserted into a new block.
  2. The Mempool gets larger which slows down transaction times.
  3. Once the Mempool starts to grow, the miners pick up the transactions offering the highest fees first. So fees start to rise so that you can ensure your transaction is confirmed.
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  1. What is the mempool?

transactions which are unconfirmed waiting for a miner to add to next block

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

mempool grows larger and longer transaction times

  1. How does a growing mempool effect transaction fees?

fees go up

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  1. The pool of unconfirmed transactions.
  2. The mempool will increase in size
  3. Fees will rise because those who want to skip to the front of the line will be willing to pay more.
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1- mempool is a database that hold all unconfirmed transactions.
2- longer time for the block to be index in blockchain and this the fees for transaction will go up.
3- growing mempool will increase the transaction fees.

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  1. List of unconfirmed transactions, transactions have to be deemed valid by the respective node to make it to the mempool.

  2. Mempool becomes flooded with unconfirmed transactions which causes longer transaction times, paying higher fees can get your transaction processed faster because miners work based on financial incentives.

  3. Fees rise with a growing mempool

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  1. The space where unconfirmed tx wait for a miner to add to a block.

  2. The mempool gets backlogged and tx takes longer

  3. Fees get higher as congestion of the mempool increases.

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  1. a place where all transactions are not yet validated by miners’ node
  2. the mempool gets bigger and bigger.
  3. the bigger the mempool the higher the transaction fees.
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  1. mempool is a pool that contains all unconfirmed transactions on each node, waiting miner to put on the blockchain;
  2. there will be other miners to confirm the transaction, therefor taking fee;
  3. depending on how much byte the transaction will use. Miner will chose to confirm transactions with highest fees.
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  1. The mempool is a storage pool on each node where valid, unconfirmed transactions are stored before propagating to additional nodes on network.
  2. Bottlenecks on the network will occur and confirmation time will increase resulting in higher priority fees due to block size limit (1MB) and average block creation time (10 min).
  3. A growing mempool will be indicative of high network traffic resulting in higher fees given that miners will typically choose the highest fees and wallets will typically choose a fee to get your tx onto the blockchain based on recent transaction fees.
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  1. The mempool is a data structure of unconfirmed transactions that each node has.
  2. If the miners can’t keep up with the rate of the new transaction the mempool size will grow and transactions will take longer to go through.
  3. A growing mempool causes transaction fees to go up.
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A temporary list of validated unconfirmed transactions held by nodes

The mempool increases

Because minors are financially incentivised they will look at the higher transaction fees

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