More clarification about Memory pool and Candidate block

ABCbits

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Quote from: Charles-Tim on February 26, 2023, 03:44:43 AM

Quote from: Dzwaafu11 on February 26, 2023, 03:14:10 AM

*I'm curious how the memory pool works and why there is only one temporary storage location for bitcoin at the moment.

One? No because all nodes have their own memory pool (mempool)

It's also worth to mention it has implication mempool on each node store different set of transaction due to various reason such as transaction propagation or maximum RAM allocated for mempool.

Quote from: Nheer on February 26, 2023, 04:14:09 AM

The blockchain will be updated with the block that a miner is currently working on.

Wrong, blockchain only updated (as in has new block) when miner has done working on that block (as in find hash which has value less than current difficult target) and broadcast that block.

Nheer

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Quote from: Charles-Tim on February 26, 2023, 04:37:56 AM

Quote from: Nheer on February 26, 2023, 04:14:09 AM

In order to validate them, candidate blocks select transactions from the memory pool.

Miners select the unconfirmed transactions into their candidate block.

Quote from: Nheer on February 26, 2023, 04:14:09 AM

Transactions yet to be confirmed are held in the momory pool and lined up waiting to be confirmed before being added to the block.

The transactions are not lined up to be included into a block, the ones that are having highest fee have most likely chance to be included into the next block.

Quote from: Charles-Tim on February 26, 2023, 04:37:56 AM

Quote from: Nheer on February 26, 2023, 04:14:09 AM

In order to validate them, candidate blocks select transactions from the memory pool.

Miners select the unconfirmed transactions into their candidate block.

Quote from: Nheer on February 26, 2023, 04:14:09 AM

Transactions yet to be confirmed are held in the momory pool and lined up waiting to be confirmed before being added to the block.

The transactions are not lined up to be included into a block, the ones that are having highest fee have most likely chance to be included into the next block.

Oh thanks I made a mistake there, i was too fast typing so i made a mistake. I’ll make corrections to that. Miners select the unconfirmed transactions from the memory pool to their candidate block. Thanks

Charles-Tim

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Quote from: Nheer on February 26, 2023, 04:14:09 AM

In order to validate them, candidate blocks select transactions from the memory pool.

Miners select the unconfirmed transactions into their candidate block.

Quote from: Nheer on February 26, 2023, 04:14:09 AM

Transactions yet to be confirmed are held in the momory pool and lined up waiting to be confirmed before being added to the block.

The transactions are not lined up to be included into a block, the ones that are having highest fee have most likely chance to be included into the next block.

Nheer

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Activity: 658

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Quote from: Dzwaafu11 on February 26, 2023, 03:14:10 AM

Hello to everyone.
Because I'm new here, I decided to do some research to learn more about bitcoin and cryptocurrencies, and I discovered two things.

• Memory pool
• Candidate block

I bring this up for more clarification because I'm not sure about these two things.

*I'm curious how the memory pool works and why there is only one temporary storage location for bitcoin at the moment.

*I need more information about this candidate block because it's confusing me.

Then please what is the difference between the two.

What I understand is that A candidate block is a temporary block produced by a miner that may be accepted or rejected. The blockchain will be updated with the block that a miner is currently working on. In order to validate them, Miners select the unconfirmed transactions from the memory pool to their candidate block.
And then,Memory pool is like the store room for unconfirmed transactions. Transactions yet to be confirmed are held in the momory pool and lined up waiting to be confirmed before being added to the block.

Charles-Tim

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When transactions are broadcasted, it got into a memory pool, waiting for miners to include it into a block. If miner select the transactions (which are not yet confirmed), they included the unconfirmed transaction selected into a candidate block. The candidate block is first created and each node tries to add the candidate block into blockchain.

You need to read these, short and simple:
https://learnmeabitcoin.com/technical/candidate-block
https://learnmeabitcoin.com/technical/memory-pool

Let me make it easy. Candidate block is a block that miners included the unconfirmed transactions, miners can add the transactions of their choice, if the miner mine the next block, nodes validates that and becomes a valid block mined.

Quote from: Dzwaafu11 on February 26, 2023, 03:14:10 AM

*I'm curious how the memory pool works and why there is only one temporary storage location for bitcoin at the moment.

One? No because all nodes have their own memory pool (mempool)

Dzwaafu11

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Hello to everyone.
Because I'm new here, I decided to do some research to learn more about bitcoin and cryptocurrencies, and I discovered two things.

• Memory pool
• Candidate block

I bring this up for more clarification because I'm not sure about these two things.

*I'm curious how the memory pool works and why there is only one temporary storage location for bitcoin at the moment.

*I need more information about this candidate block because it's confusing me.

Then please what is the difference between the two.

Topic: More clarification about Memory pool and Candidate block (Read 176 times)