Confusion level : Medium
I WILL DONATE 0.003 BTC for a resourceful answer.. so please help out a noob.. i am a true bitcoin enthusiast
I understand that the miners confirm transactions from memory pool . Well...
Do the miners have their own memory pool ?
I WILL DONATE 0.003 BTC for a resourceful answer.. so please help out a noob.. i am a true bitcoin enthusiast
I understand that the miners confirm transactions from memory pool . Well...
Do the miners have their own memory pool ?
Yes, each full node has. Mempool are just all transactions stored in the nodes RAM.
or which mempool they get the transactions to confirm ?
How can you start a mempool ? Can anyone have a mempool that other miners can connect to ?
How can you start a mempool ? Can anyone have a mempool that other miners can connect to ?
Yes, to have your own, run a full node, like e.g. bitcoin core.
Every time i look at different block explorer mempool size they all vary... So is there a central mempool where all the tx gets dumped as soon as it broadcast?
No, there is no central mempool, but transactions are passed along from node to node. If we all would stop creating new transactions for a few minutes, most mempool would be the same.
When i run bitcoin core wallet i see that i also have a mempool and its constantly increasing and decreasing after a block is found . So i does that mean i so have my own mempool that other miners are connected to ?
Maybe not miners directly, but other nodes yes.
Can i run a mempool and set some rules on which kind of transaction can be added to my mempool ?
You can modify your nodes rules in regards to which transactions are accepted and which are not, yes.
And i can honestly go on and on .. to be honest i understand that each time a tx is broadcasted it is added to mempool but considering there are so many of pools i am just confused about whats going on after broadcast
You send a transaction to all nodes you are connected to at the time. Each of them checks your transactions and if its sounds according to their rules, they store in memory (mempool) and broadcast it to other nodes. This continues until almost all nodes know about your transaction. A few of these nodes are miners and eventually confirm the transaction storing it forever in a bitcoin block.
