Topic: What is Bitcoin mempool? (Read 181 times)
I never thought that some online articles are misleading newbies and those who didn't know what they are trying to share to help others. My opinion is that we should help someone who post a thread that is misleading because of the source that is misleading into thinking the wrong meaning about a topic like this.
Each running full node on the Bitcoin network is connected to this mempool, especially the miners.
The miners, ... try to solve an energy-intensive math problem.
The miners, ... try to solve an energy-intensive math problem.
please refrain from creating "educational" topics such as this about a subject that you don't fully understand yourself. you'll end up doing more harm than good by misleading others.
Each running full node on the Bitcoin network is connected to this mempool, especially the miners.
The miners, ... try to solve an energy-intensive math problem.
The miners, ... try to solve an energy-intensive math problem.
please refrain from creating "educational" topics such as this about a subject that you don't fully understand yourself. you'll end up doing more harm than good by misleading others.
Those "The Mempool" phrase from online articles and posts are usually the culprit why beginners are mislead into thinking that there's a central mempool in the network.
But that's the shortest way to tell "my/your node's mempool" so I can't blame them, "the" is a very general determiner anyways
But that's the shortest way to tell "my/your node's mempool" so I can't blame them, "the" is a very general determiner anyways
Each running full node on the Bitcoin network is connected to this mempool, especially the miners. The miners, working at their respective nodes, collate a bunch of transactions from this mempool, and then they try to solve an energy-intensive math problem.
It sounds like you think that mempool is some sort of a single centralized database that exists independently from full nodes. This is wrong, because in fact there's no single mempool, every full node maintains their own mempool. This is why when a transaction gets stuck for long, you can notice that it sometimes it disappears from blockchain explorers, but can be available on other explorers. This is because some nodes choose to delete it, while others still keep it.
Due to this online topic that let newbies think that they are right and cause harm to newbies and also myself.
What is Bitcoin mempool?
The Bitcoin mempool is where the unconfirmed Bitcoin transactions on the Bitcoin network. When a Bitcoin transaction is created on Bitcoin’s blockchain, it is not immediately added instead it goes into this pool of in-motion transactions to be solved and confirmed.
Every running full node on the Bitcoin network maintains their own mempool and then the miners will collate a bunch of transactions from a mempool that is maintain by a running full node and then they try to solve an energy-intensive math problem.
The collection of these transactions is called a “block”, and whichever miner first solves the math problem gets to add this block to Bitcoin’s blockchain. This is the first confirmation of that block. I'm sure most people knew that blocks time is 10 minutes.
After a miner that solve the block first will get the block reward and also the total amount of fee in each transactions on the block. Some transactions are delayed because miners are not picking out our transactions from the mempool and may take up several hours.
Take a look at this example about transactions added to a mempool. Image below.
How to make our transactions confirmed faster?
It is very simple, you have to pay a higher fee to get your transactions confirm faster but if you prefer normal or possible lowest transaction fee then you'll have to wait and if it is delayed then you can broadcast your transaction by using either of these two https://www.blockchain.com/btc/pushtx and https://coinb.in/#broadcast by pasting raw transaction in hex format.
You can check the size of mempool in chart. https://www.blockchain.com/en/charts/mempool-size
SOURCE OF INFORMATION:
https://coinsutra.com/bitcoin-mempool/?amp
https://www.blockchain.com/btc/pushtx
https://coinb.in/#broadcast
https://www.blockchain.com/en/charts/mempool-size
What is Bitcoin mempool?
The Bitcoin mempool is where the unconfirmed Bitcoin transactions on the Bitcoin network. When a Bitcoin transaction is created on Bitcoin’s blockchain, it is not immediately added instead it goes into this pool of in-motion transactions to be solved and confirmed.
Every running full node on the Bitcoin network maintains their own mempool and then the miners will collate a bunch of transactions from a mempool that is maintain by a running full node and then they try to solve an energy-intensive math problem.
This is why when a transaction gets stuck for long, you can notice that it sometimes it disappears from blockchain explorers, but can be available on other explorers. This is because some nodes choose to delete it, while others still keep it.
The collection of these transactions is called a “block”, and whichever miner first solves the math problem gets to add this block to Bitcoin’s blockchain. This is the first confirmation of that block. I'm sure most people knew that blocks time is 10 minutes.
After a miner that solve the block first will get the block reward and also the total amount of fee in each transactions on the block. Some transactions are delayed because miners are not picking out our transactions from the mempool and may take up several hours.
Take a look at this example about transactions added to a mempool. Image below.
How to make our transactions confirmed faster?
It is very simple, you have to pay a higher fee to get your transactions confirm faster but if you prefer normal or possible lowest transaction fee then you'll have to wait and if it is delayed then you can broadcast your transaction by using either of these two https://www.blockchain.com/btc/pushtx and https://coinb.in/#broadcast by pasting raw transaction in hex format.
You can check the size of mempool in chart. https://www.blockchain.com/en/charts/mempool-size
SOURCE OF INFORMATION:
https://coinsutra.com/bitcoin-mempool/?amp
https://www.blockchain.com/btc/pushtx
https://coinb.in/#broadcast
https://www.blockchain.com/en/charts/mempool-size
Jump to: