how mempool works??

[kasunrandil]

may anyone explain me please how mempool work and  how many mempools are there plz.BTC

[pooya87]

may anyone explain me please how mempool work

When you broadcast a new transaction, it has to reside somewhere in temporary memory until it is included in a new block. That temporary memory is called memory pool or mempool for short.

how many mempools are there

Each full node has its own mempool that contains transactions that they verify themselves and prefer to hold.

[hZti]

The mempool holds unconfirmed transactions until they get confirmed. It can sometimes take days for a transaction to get confirmed if the mempool is very crowded, since one block can only hold a maximum amount of transaction. You can check the current usage here: https://mempool.space/

[kasunrandil]

may anyone explain me please how mempool work

When you broadcast a new transaction, it has to reside somewhere in temporary memory until it is included in a new block. That temporary memory is called memory pool or mempool for short.

how many mempools are there

Each full node has its own mempool that contains transactions that they verify themselves and prefer to hold.

ok the. just think i join as node to the newtwork and i start mining proces. must i join with a mining pool like binance pool or somethin other pool or am i able to mine solo??

[pooya87]

ok the. just think i join as node to the newtwork and i start mining proces. must i join with a mining pool like binance pool or somethin other pool or am i able to mine solo??

Technically you can mine on your own, you can run your own full node and construct blocks that you are about to mine yourself. But that works best if you have a lot of hashrate so that you can find a block on regular basis instead of once a month for example.

But when you join a mining pool you will get paid for the work you perform regardless of whether you find the block yourself or another participant of the pool does.
It is also more convenient since you don't have to run your own full node but that also means you are giving up some control over what you mine.

[franky1]

ok the. just think i join as node to the newtwork and i start mining proces. must i join with a mining pool like binance pool or somethin other pool or am i able to mine solo??

i explained your question about mempool in the other topic you made.

but to answer this question about mining

to find a difficult blockhash for bitcoin collated transction data. requires alot of effort from special devices called asics. that do trillions of hashes a second to find a difficult hash that meets the requirements of the network difficulty.

at the moment there are about 1.5million of these asics running 24/7 and only one manages to find a block solution hash that meets the standard every ~10minutes.

for you as a solo miner to have a chance of mining a block every 10 minutes means you need to own as many asics as the whole network. (1.5mill asics at this time)
so do the math

there are only 52560 blocks a year but 1.5m asics all the time fighting to solve a block
meaning 1.5m asics are fighting for a block over 10minutes
meaning 250k asics are fighting for a block over an hour
meaning ~11k asics are fighting for a block over a day
meaning ~29 asics are fighting for a block over a year

meaning 1 asic might get a block every 29.5 years
(if the difficulty/hashrate didnt change for 30 years to keep the competition/luck the same throughout)

but your costs of mining 24/7 waiting for that time you manage to get a block is costing you money upfront, and so you might prefer regular smaller income rather then lengthy wait for lumpsums

by joining a mining pool(a syndicate of people helping each other to share the reward), managed by a pool operator. the pool manager calculates that X blocks a day will be mined by their pool. and so they look at how many asics are under their management and offer out shares for the workload effort being put into their mining pool. so when the pool gets a solved blocks more regularly because of the shared effort, and the reward is confirmed when its block is added to the blockchain that everyone accepts as valid. the pool then divide that reward up to give to their users that joined the pool. meaning all that large amount of hashrate(asics) all helping together means more regular blocks for that pool. meaning more to share for the users of the mining pool, more regularly.

so if you are solo mining with 1 asic you might get 1 block of 6.25btc every 3 decades (if lucky)
however if in a mining pool(syndicate) you might get like a few sats per block time on average
which soon add up over the year/decade

different pools have different fee's/reward share policies.
and different pools manage a different amount of asics which dictate different amount of blocks the pool solves and a different amount of reward to then share. so do your research on the expected returns and expectations of earnings

[kasunrandil]

ok the. just think i join as node to the newtwork and i start mining proces. must i join with a mining pool like binance pool or somethin other pool or am i able to mine solo??

i explained your question about mempool in the other topic you made.

but to answer this question about mining

to find a difficult blockhash for bitcoin collated transction data. requires alot of effort from special devices called asics. that do trillions of hashes a second to find a difficult hash that meets the requirements of the network difficulty.

at the moment there are about 1.5million of these asics running 24/7 and only one manages to find a block solution hash that meets the standard every ~10minutes.

for you as a solo miner to have a chance of mining a block every 10 minutes means you need to own as many asics as the whole network. (1.5mill asics at this time)
so do the math

there are only 52560 blocks a year but 1.5m asics all the time fighting to solve a block
meaning 1.5m asics are fighting for a block over 10minutes
meaning 250k asics are fighting for a block over an hour
meaning ~11k asics are fighting for a block over a day
meaning ~29 asics are fighting for a block over a year

meaning 1 asic might get a block every 29.5 years
(if the difficulty/hashrate didnt change for 30 years to keep the competition/luck the same throughout)

but your costs of mining 24/7 waiting for that time you manage to get a block is costing you money upfront, and so you might prefer regular smaller income rather then lengthy wait for lumpsums

by joining a mining pool(a syndicate of people helping each other to share the reward), managed by a pool operator. the pool manager calculates that X blocks a day will be mined by their pool. and so they look at how many asics are under their management and offer out shares for the workload effort being put into their mining pool. so when the pool gets a solved blocks more regularly because of the shared effort, and the reward is confirmed when its block is added to the blockchain that everyone accepts as valid. the pool then divide that reward up to give to their users that joined the pool. meaning all that large amount of hashrate(asics) all helping together means more regular blocks for that pool. meaning more to share for the users of the mining pool, more regularly.

so if you are solo mining with 1 asic you might get 1 block of 6.25btc every 3 decades (if lucky)
however if in a mining pool(syndicate) you might get like a few sats per block time on average
which soon add up over the year/decade

different pools have different fee's/reward share policies.
and different pools manage a different amount of asics which dictate different amount of blocks the pool solves and a different amount of reward to then share. so do your research on the expected returns and expectations of earnings

got it sir. tank you