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
Thanks for watching!
COMMENT below and let us know what you think of the video. Post your follow-up questions there too!
SUBSCRIBE to this RU-vid channel and select the bell 🔔 for notifications: / @aantonop
JOIN this RU-vid channel to become a RU-vid Community Member and access custom emoji and other perks: / @aantonop
BECOME a Community Builder: / aantonop
LEARN from Andreas in one of his popular Workshops which will teach you practical crypto skills. There’s even a FREE Intro to Bitcoin & Open Blockchains to get you started. aantonop.io/takeaworkshop
You can also learn from one of aantonop's many books. Andreas has written three technical books for developers about blockchain technology, Mastering Bitcoin, Mastering Ethereum, and Mastering the Lightning Network published by O’Reilly Media. He’s also written The Internet of Money Series books, which explain why bitcoin, ethereum, and open blockchains matter.
About aantonop: Andreas isn't promoting a company or an organization; he's paid by the community (people who support this work on Patreon and RU-vid) and provides an unbiased look at open blockchain technologies, what they can do for our societies, and how to get involved. Learn more at aantonop.com
From Andreas: You may already know that my mission is to educate as many people as possible about #Bitcoin and open blockchain technologies. Watching these videos and sharing them with others is a big part of that. Thank you for being part of this mission.
**Learn More From Andreas’ Workshops, Books & Events*
Amazon & Kindle: www.amazon.com/-/e/B00MVAG8Z8
Audible: www.audible.com/author/Andrea...
E-books & Merch: aantonop.io/shop
Patreon: / aantonop
Website: aantonop.com
Workshops: aantonop.com/workshops
**Connect with Andreas on Socials**
Facebook: / andreasmantonopoulos
Instagram: / amantonop
LinkedIn: / aantonop
Twitter: / aantonop
Thanks for watching, sharing, and subscribing!
21 апр 2023
