Bitcoin mempool

Technical Terms

Posted by Massimo Musumeci Dec 19, Cryptocurrencies 0 Everyone always get informations about mempool size for example and about bitcoin transactions fees, but these infos are many times quite confusing.

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The bitcoin network is a decentralized network populated by peers which are communicating each others. Therefore there is no centralized memory pool.

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Instead each node has its own mempool and manages it depending on bitcoin core configuration. The configuration can be changed in order to match bitcoin mempool needs of the node owner.

Spesso dopo aver effettuato un invio di Bitcoin ci si trova a chiedersi dove sono finiti? Perchè non sono ancora arrivati? Ma andiamo con ordine, la Mempool, termine abbreviato che indica la Memory Pool, è la bitcoin mempool mondiale di tutte le transazioni che devono essere processate, e che verranno poi scritte nella Blockchain. La Blockchain è una sorta di registro digitale, ha un database pubblico e distribuito, nel quale vengono registrate in maniera sicura le transazioni che si realizzano in rete. La Mempool si basa su un sistema ad asta, ovvero le transazioni che pagano di più passano prima, e ogni transazione viene inviata da un nodo alla rete Bitcoin attraverso gli altri Nodi.

So it is normal that size of mempool is different on different nodes. The default mempool maximum size is set to MB but you can raise it by setting the maxmempool variable in the bitcoin.

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This variable is important bitcoin mempool managing the transactions standing in the mempool. Infact when this value is reached, the node will start to remove the transactions with lover fee rate and thus accept only fee with an higher minimum fee increasing the minMempoolFeeRate var.

Algoritmo di firma digitale basato sulla curva ellittica EN :Ethereum Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference. The risk of a Finney attack cannot be eliminated regardless of the precautions taken by the merchant, but the participation of a miner is required bitcoin mempool a specific sequence of events must occur. Quando il merchant eroga il bene o il servizio il miner trasmette il proprio blocco con la transazione fraudolenta EN :Flood attack A flood attack is the process of sending thousands of transactions to "flood" the mempool, filling new blocks to the maximum size of 1MB, and subsequently delaying other transactions. It is easy to send transactions to yourself repeatedly, but it is made expensive with transaction fees.

This adjustment makes possible to maintain the size at the maximum size set. So it will send to the other nodes the signal not to forward to it transactions below that size.

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The majority of nodes have MB or less. This means that many low fees transactions will not be confirmed for longtime and probably will need to be bumped in fees to be accepted by nodes and then confirmed. This is normally accomplished by the RBF notification.

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