{"id":16729,"date":"2023-05-18T13:58:16","date_gmt":"2023-05-18T13:58:16","guid":{"rendered":"https:\/\/www.bitnovo.com\/blog\/?p=16729"},"modified":"2022-11-22T03:04:12","modified_gmt":"2022-11-22T03:04:12","slug":"what-is-mempool","status":"publish","type":"post","link":"https:\/\/www.bitnovo.com\/blog\/en\/what-is-mempool","title":{"rendered":"What is Mempool?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Alternar tabla de contenidos\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #ffffff;color:#ffffff\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #ffffff;color:#ffffff\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-mempool\/#why_is_mempool_important\" >Why is Mempool important?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-mempool\/#the_solution_a_transaction_pool\" >The solution: a transaction pool<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-mempool\/#how_does_the_mempool_work\" >How does the Mempool work?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-mempool\/#first_phase_receipt_of_the_transaction\" >First phase: Receipt of the transaction<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-mempool\/#second_phase_access_to_transactions\" >Second phase: Access to transactions<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Tiempo de lectura:<\/span> <span class=\"rt-time\"> 4<\/span> <span class=\"rt-label rt-postfix\">minutos<\/span><\/span><p style=\"text-align: left;\">If you are a Bitcoin user, one of the most important concepts you should know is the <strong>Bitcoin mempool<\/strong>. You may not know what it is, but whenever you make a transaction with this cryptocurrency, this tool intervenes. When you make a Bitcoin transaction, the <strong>transactions<\/strong> are not processed or confirmed immediately. As they are not processed<strong> immediately<\/strong>, these transactions are stored temporarily in the<strong> mempool<\/strong> or, in other words, the <strong>Bitcoin memory pool.\u00a0<\/strong><\/p>\n<p style=\"text-align: left;\">The mempool has one<strong> main purpose<\/strong> and that is to<strong> buffer or hold transactions.<\/strong> When transactions arrive in this room they are stored until the miners start selecting transactions to be included in the block they are solving. This process is necessary to finally move the transactions from <strong>unconfirmed to confirmed status<\/strong>. In this last phase the transaction is successfully confirmed and becomes integrated into the <strong>blockchain.<\/strong><\/p>\n<p>In this article we will tell you all about the mempool, why it is important and how it works in Bitcoin.<\/p>\n<h2 style=\"text-align: left;\"><span class=\"ez-toc-section\" id=\"why_is_mempool_important\"><\/span><strong>Why is Mempool important?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: left;\">A transaction<strong> waiting room<\/strong> may not seem entirely necessary to you, but it is. The first thing to keep in mind is that Bitcoin works as a network of nodes connected to each other, all within a completely decentralized <a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-a-peer-to-peer-network\">P2P<\/a> scheme. In this mechanism there are no central servers that control everything. This has led the <a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-bitcoin\">Bitcoin<\/a> system to develop protection mechanisms against<strong> different types of attacks.<\/strong><\/p>\n<p style=\"text-align: left;\">Among these mechanisms is the creation of a predictable block generation and transaction confirmation scheme. In other words, it is Bitcoin&#8217;s ability to generate blocks every <strong>10 minutes on average<\/strong> and on a regular basis. The process of<strong> creating blocks<\/strong> at defined time intervals is responsible for <strong>miners<\/strong> being able to<strong> successfully<\/strong> mine. In addition, this process prevents certain operations from negatively affecting the network. Among these operations are the generation of invalid transactions en masse. These operations could end up <strong>blocking<\/strong> the network and prevent users from using it <strong>freely.<\/strong><\/p>\n<h3 style=\"text-align: left;\"><span class=\"ez-toc-section\" id=\"the_solution_a_transaction_pool\"><\/span><b>The solution: a transaction pool<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: left;\">Addressing these potential problems, the best apparent solution was the creation and <strong>development of a mempool.<\/strong> With the mempool in place, every transaction that is created and sent to the network first goes through the waiting room. Thanks to this waiting room the transaction will never get lost, it will simply be in this room waiting for a miner to decide to include it in his block. With this system, Bitcoin network users can make any transactions they want. The rest of the work will be done by the network. It will simply <strong>process<\/strong> them over time. In the Bitcoin network about <strong>2100 transactions are processed every 10 minutes<\/strong>, or in other words, every time a new block is generated. This is how the mempool accumulates large amounts of transactions, however, despite being accumulated, the network will not stop <strong>processing<\/strong> them.<\/p>\n<p style=\"text-align: left;\">It should be noted that this system would not be possible in situations such as <strong>PayPal. In this system the centralization<\/strong> of the system allows a great speed in the transactions, but these are susceptible to moments of <strong>high demand<\/strong> or attacks that generate a high demand of its centralized servers.<\/p>\n<div class=\"is-divider divider clearfix\" style=\"text-align: left;\"><\/div>\n<div id=\"image_1023114951\" class=\"img has-hover x md-x lg-x y md-y lg-y\" style=\"text-align: left;\">\n<div class=\"img-inner dark\"><img fetchpriority=\"high\" decoding=\"async\" class=\"attachment-large size-large lazyloaded\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/03\/Mempool.jpg\" sizes=\"(max-width: 768px) 100vw, 768px\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/03\/Mempool.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/03\/Mempool-300x205.jpg 300w\" alt=\"Mempool\" width=\"768\" height=\"526\" data-srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/03\/Mempool.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/03\/Mempool-300x205.jpg 300w\" data-src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/03\/Mempool.jpg\" data-sizes=\"(max-width: 768px) 100vw, 768px\" \/><\/div>\n<\/div>\n<div class=\"is-divider divider clearfix\" style=\"text-align: left;\"><\/div>\n<h2 style=\"text-align: left;\"><span class=\"ez-toc-section\" id=\"how_does_the_mempool_work\"><\/span><strong>How does the Mempool work?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: left;\">As mentioned above, the mempool is a temporary storage space where cryptocurrency transactions wait. Initially, this task is easy to perform. In the case of <strong>Bitcoin<\/strong>, the functions of a mempool are regulated through the <strong>BIP-35<\/strong>. If you don&#8217;t know what it is, a <a href=\"https:\/\/www.bitnovo.com\/blog\/en\/bitcoin-bip-improvement-proposals\">BIP<\/a> is a document in charge of standardizing certain procedures or functions within the Bitcoin network.<\/p>\n<p style=\"text-align: left;\">The operation of the Mempool is divided into<strong> 2 phases<\/strong>, which will be described below:<\/p>\n<h3 style=\"text-align: left;\"><span class=\"ez-toc-section\" id=\"first_phase_receipt_of_the_transaction\"><\/span><strong>First phase: Receipt of the transaction<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: left;\">In the first phase, the mempool is responsible for <strong>receiving the transactions<\/strong> that have been generated by users within the network. This is a relatively simple process, taking no more than <strong>10 seconds<\/strong> to complete. Once the first step has been completed, the transaction will begin a lengthy confirmation process. To begin this process, the transaction must be<strong> transmitted to the network<\/strong> for processing.<\/p>\n<p style=\"text-align: left;\">Now that we know the<strong> first step<\/strong>, we must take into account that this process is carried out on a <strong>massive scale<\/strong>. The reality is that hundreds of thousands of users perform this process at the same time and in a relatively short period of time. This large number of transactions generates <strong>high transaction traffic<\/strong> on the network. Obviously, this traffic is <strong>efficiently<\/strong> controlled and we will see this in the next phase.<\/p>\n<p style=\"text-align: left;\">This first part is where the Mempool performs its most important role, <strong>receiving<\/strong> all transactions from the network. This whole process is carried out with the <strong>objective<\/strong> that the transactions are effectively processed by the miners in due time.<\/p>\n<div class=\"is-divider divider clearfix\" style=\"text-align: left;\"><\/div>\n<div id=\"image_835677292\" class=\"img has-hover x md-x lg-x y md-y lg-y\" style=\"text-align: left;\">\n<div class=\"img-inner dark\"><img decoding=\"async\" class=\"attachment-large size-large lazyloaded\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/03\/Mempool2.jpg\" sizes=\"(max-width: 768px) 100vw, 768px\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/03\/Mempool2.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/03\/Mempool2-300x205.jpg 300w\" alt=\"Mempool\" width=\"768\" height=\"526\" data-srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/03\/Mempool2.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/03\/Mempool2-300x205.jpg 300w\" data-src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/03\/Mempool2.jpg\" data-sizes=\"(max-width: 768px) 100vw, 768px\" \/><\/div>\n<\/div>\n<div class=\"is-divider divider clearfix\" style=\"text-align: left;\"><\/div>\n<h3 style=\"text-align: left;\"><span class=\"ez-toc-section\" id=\"second_phase_access_to_transactions\"><\/span><strong>Second phase: Access to transactions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: left;\">In this <strong>second phase<\/strong>, the cryptocurrency miners see all the transactions that have been made by Bitcoin users. We must remember that each and every one of these transactions is in the <strong>waiting room<\/strong> to be processed.<\/p>\n<p style=\"text-align: left;\">To choose transactions, miners enter the <strong>mempool<\/strong> and select the transactions they want to include in the next block in the chain. As transactions are chosen, the mempool <strong>frees up more space<\/strong> and the network becomes more balanced. This means that as fewer transactions are <strong>stored in the mempool<\/strong> there is less pressure on the network and this leads to faster commits. For this reason, when a mempool is \u00ab<strong>full<\/strong>\u00ab, commits take longer to complete.<\/p>\n<p style=\"text-align: left;\">The process of <strong>transaction resolution<\/strong> by miners is relatively <strong>fast<\/strong>. However, miners will take longer to confirm your transaction when the mempool is full of transactions. When this happens, users tend to pay more commissions in order for the miners to give more <strong>priority to their transaction<\/strong>. The more commission a user pays, the more likely their transaction will be chosen <strong>quickly.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Tiempo de lectura:<\/span> <span class=\"rt-time\"> 4<\/span> <span class=\"rt-label rt-postfix\">minutos<\/span><\/span>If you are a Bitcoin user, one of the most important concepts you should know is the Bitcoin mempool. You may not know what it is, but whenever you make a transaction with this cryptocurrency, this tool intervenes. When you make a Bitcoin transaction, the transactions are not processed or confirmed immediately. As they are [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":6829,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-16729","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-criptomonedas"],"_links":{"self":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/16729","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/comments?post=16729"}],"version-history":[{"count":0,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/16729\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/media\/6829"}],"wp:attachment":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/media?parent=16729"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/categories?post=16729"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/tags?post=16729"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}