Decoding Bitcoin: Why Mempools Are More Important Than You Think - Bitcoin Q&A
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- Опубликовано: 21 апр 2023
- This Q&A is an excerpt from an answer Andreas gave during the March 2023 Q&A session for patrons. The question was related to the large reorg that happened during Bitcoin's early days and specifically what happened to the transactions that weren't actually confirmed. During the answer, it became clear that people needed clarification as to what "the" mem pool actually is and what it's not. Hint: there is no "the" mem pool. If you want to join the Q&A sessions, simply become a patron at / aantonop
Video description: Welcome back to our deep dive into the world of bitcoin. Today, we're spotlighting 'mempools', an often overlooked but crucial part of every blockchain node. Mempools are, in essence, a waiting area for unconfirmed transactions. They're used by both miners, who are looking for transactions to include in the next block, and wallets that need to keep tabs on unconfirmed payments and pending transactions.
And here's where it gets interesting - even though each node has its own mempool, they're almost identical, with over 99.99% of the transactions being the same across different mempools. This high degree of synchronicity is what makes the blockchain system work. Even in the case of a rollback, where blocks are discarded, nodes can quickly repopulate their mempools either from their own backlog or from other nodes, ensuring that no transaction gets lost in the shuffle.
So if you're into #BlockchainTechnology, #CryptocurrencyMining, or just want to know #HowBitcoinWorks, keep watching our videos to get the lowdown on these important topics. Remember to subscribe and hit the bell icon to stay updated on our latest content! #BitcoinExplained #Mempools #Decentralization
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Thank you for your Bitcoin education. I go back and watch your speeches from 7 years ago just to see how far we’ve come. ❤️
Great you're back again! Finally I got a simple and good explanation about the mempool. Please stay with us in this phase of growing Regulation and political influence on BTC. Tnx for your time.
We need more Andreas!!! More now than ever!!!!
I've learned so much from your videos. Thank you for sharing since the beginning!
So nice to see you again. Your education and insight is the best. Love to see you on Rogan again.
Hi Andreas, your ability to simplify complex concepts and make them accessible to the average person is truly commendable, your explanation about the seed words being the real 'store' of wealth was a game-changer. It's clear that the real value lies in the blockchain and the seed words, not the physical device. This video has been incredibly enlightening and I want to thank you for the work you're doing. Your channel is hands down the best technical yet accessible resource for crypto information. Keep up the excellent work! Cheers from Portugal !!
Great to see you Andreas. Thanks for being so inspirational!
The go to for btc education, has been for almost a decade for me. You mean a lot to all us Andreas 🙏
A current video of your current thoughts on many unconfirmed transactions would be cool to see. I already know what your going to say but always nice to see it anyway.
Andreas, it’s good to see you pop-up again every once in a while !
Is it worth following you on patreon ?
My man! From Nagasaki Japan, learned so much over the years.
Let’s go! Andreas is back
Great to hear from you again ant. I'd love to hear from you about bitcoin and privacy. What privacy improvements might be coming in the near future. How can one maintain privacy using bitcoin against chainalysis companies.
We can say this video came at the appropriate time.
Nicely explained
So happy to be seeing you again on your channel
happy to see you in my timeline Andreas.
So glad you are back 😊
Thanks, Andreas, good to keep in mind.
Thank you!
Thank you for your time.
great, one of the OG in crypto.
Would love to hear your opinion on Blockdag
goat. glad he back on yt now the price back up lol
Thank you. Bitcoin isn’t going anywhere and neither should you! Good to see you back again. I can just see SEC taking alts out of the cryptocurrency category and put them under a new type of 24hr stock market. If a token has utility then it’s a tech stock. We hear this coin can do this and this token can do that. I don’t want my money to cook my breakfast!
Tache game getting stronger
The mempool = the collective mempool.
The blockchain = the collective blockchain.
This is a very important query for the bitcoin world.
There has been an impressive increase in transaction costs and delays in Bitcoin confirmations and it can be understood that it is because of the increase in transactions related to NFT's, miners crash their servers due to the digital weight of NFT images.
Practically the whole bitcoin world will collapse.
Is it possible for Adreas to comment on this?
Hector Gonzalo
Χριστός Ανέστη, υπάρχει η δυνατότητα να βρούμε τα βιβλία σου σε ελληνική γλώσσα?
to differ by a few
I miss your educational videos.
look what yall did to this man. He's got grey facial hair now. Welcome back Andreas!
bitcoin is old like a dinosaur, time to move on,Cardano is the way.
Lol you completely clueless
🤮
Yes, let's compete with Bitcoin that imposed a hard cap on the issuance of currency by... Minting a new currency.
hahahahaha🤣 💩coin