Homework on Mempool - Questions

1: Its the place where unconfirmed transactions go.

2: The mempool grows big and the time a transaction takes is longer.

3: The fees goes up and the highest fees go through the fastest.

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  1. What is the mempool?

A. The mempool is an ongoing database that tracks all of the UTXO’s coming and going from the blockchain as well as the pending transactions fees for the miners across all nodes.

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

A. Slow mining would be reflective of algorithm difficulty being too high. This would eventually lower the target difficulty of hash algorithms but may induce higher transaction fees due to more network power needing to be used.

  1. How does a growing mempool effect transaction fees?

A. A growing mempool implies that there are more transactions taking place. More transactions means that more bytes of space will need to be used by the miners, thus raising the transaction fees.

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  1. Mempool is a pool of unconfirmed transactions.
  2. Mempool grows
  3. A growing mempool will bring higher transaction fees.
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  1. A mempool is a list of unconfirmed transactions stored by a node

  2. The fees will increase and transaction times will take longer

  3. A growing mempool will result in the transactions with the highest fees becoming prioritized by the miners

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  • What is the mempool?
    A list of unconfirmed transactions
  • What happens if the miners can’t keep up with the rate of the new transaction?
    more time to include transactions on new blocks
  • How does a growing mempool effect transaction fees?
    the fees could goes up
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1- The mempool is a datastructure that each node has, a list of unconfirmed transactions. The mempool can be different on different nodes as the node might not be aware of the other transaction yet. A miner with ask the nodes for transactions in their mempool and pick the transactions that have the higher fees. The miner will then append the block to the blockchain.

2- If the miner cannot keep up with the transaction rate, the mempool will grow in size. Transactions are removed from the mempool once added to a block.

3- A growing mempool will cause a rise in transaction fees as there will be more competition to create the next block. Since miners are financially incentivized and a block has a limited size, the miner will pick transactions that have higher fees to binary size. fees = sat/byte

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  1. Mempool is a list of unconfirmed transactions that is waiting to be picked up by a miner to be added in a block. All nodes have a mempool though not all nodes have the same mempool data at a given time.

  2. The mempool will grow in size and the transaction confirmation time will also be longer which could lead to scalability problem.

  3. Transaction fees will eventually increase as there will be a competition to be picked first. Miners always pick a transaction with a higher fee.

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  1. mempool is a database that each full node, miner have that stores all the new transaction that have not been put into a block.

  2. if miners cant keep up with the rate of new transaction the mempool will get bigger and transactions will be delayed. minors will target high fees before low fee transactions. I had a transaction suck in mempool for almost a week back in 2017.

  3. The wallets will be calculating fees based on the size of mempool and the average fees showing up in current blocks.

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  1. What is the mempool?

A mempool is a chart that shows all the count of unconfirmed transactions and the relating fees associated with each transaction.

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

The mempool will take longer to confirm transactions because the mempool is continually growing in size. And since unconfirmed transactions have to be confirmed by miners and they are not able to keep up with the growth then it’ll pretty much bring the wait time for a transaction to be confirmed come to pretty much a snail’s pace. A real recent example, (I know this is about bitcoin) was with etherum last night. The ordeal with their network being completely slammed because of a big airdrop of a new coin. This brought loads of people onto their network putting in transactions to pick up the new coin and then some of those same people may have quickly input in another transaction to unload some or all of the coin they just picked up from the airdrop. During all of this the wait time for a confirmed transaction was sky high.

  1. How does a growing mempool effect transaction fees?

As a mempool keeps growing the effect on transaction fees is that they’ll go up. Because miners have the incentive to pick the transactions with the higher fees to place on their block because they make money off the fees. Also their block has a limited amount of space so they have to pick the transactions that’ll be worth the space it’ll be taking up on their block. Going back to my previous example in question 2. Along with the long wait times to be confirmed, if you didn’t want to wait for a long time, you had to set your fees a lot higher than normal so it could be confirmed quickly and put onto the block.

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  1. Mempool is a place in a node that stores the unconfirmed transactions created by the wallet

  2. Then there will be a lot of unconfirmed transactions in the nodes, and increasing the size of the mempool. Transaction takes longer time to being confirmed

  3. Growing mempool will increase the transaction fees, because more and more delay in transactions. Transactions are competing with each other in term of fees.

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1.A list on unconfirmed transactions held by each node
2.Mempool will get larger making transaction times longer
3. miners go for highest transaction fees so fees will rise and time will lengthen

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  • What is the mempool?
    Is where all the valid transactions wait to be confirmed by the Miners
  • What happens if the miners can’t keep up with the rate of the new transaction?
    This would result to congesting leading to longer average confirmation time and higher priority fees
  • How does a growing mempool effect transaction fees?
    Transaction fees goes up.
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So you are talking about the stimulus check of Uniswap :slightly_smiling_face:

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  1. The mempool is a list of unconfirmed transaction that every node has. It may differ at a certain point in time from one node to another since transaction confirmations must travel among nodes. When a block is created (around every 10 minutes) a bunch of transactions get confirmed and into the blockchain, and at the same time out of the mempool.

  2. The mempool fills up with more pending transactions.

  3. The more transactions there are pending, the more the fees will increase.

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  1. Valid but unconfirmed TX are stored in a nodes mempool, i.e a space for those TX waiting to be picked up by a miner.
  2. The TXs will be unconfirmed and wait in the mempool.
  3. The fees will be higher since the higher fees will be prioritized into the next block. It’s market economy, competition between those who want their TX to be put into the block.
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Hahaha, Yeah, that would be the stimulus airdrop that I used in my example :slight_smile:

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  1. The Mempool contains list of all the unconfirmed transactions

  2. The mempool grows and confirming transaction will take longer

  3. Transaction fees increase

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  1. What is the mempool?
    Designated space within each node where the list of unconfirmed transactions reside.

  2. What happens if the miners can’t keep up with the rate of the new transaction?
    Mempool grows larger, may need higher fees to process.

  3. How does a growing mempool effect transaction fees?
    Causes the fess to go up.

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  • What is the mempool?

A mempool is a list of all transactions.

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

The mempool grows larger causing backup and slowing transactions

  • How does a growing mempool effect transaction fees?

Transaction fees increase and transactions in a block slow down.

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1.- A waiting area for TX verify by nodes and unconfirmed TXs.

2.- The memory pool start been full so the TX will take more time to be confirm.

3.- As more booked is the Mempool as more expensive are the fees and as long it takes to confirm TXs (like Etherium at this moment).

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