Nate Maddrey
@nmadd
The mempool is the place your transactions go after you submit them but before they're officially confirmed on the blockchain. So in other words when you send a tx and get a "transaction pending" message, your transaction is in the mempool Mempool stands for "memory pool" and it's basically just a temporary holding zone. Blockchains are peer to peer network, so when you send a tx it's messaged to all other nodes on the network and temporarily stored in the mempool. Miners or validators then pick txs out of the mempool and order them to form a block. Once a tx is confirmed in a block it's removed from the mempool Miners typically order the txs from highest to lowest fees and choose the txs with the highest fees (they're incentivized to do this since they keep the fees if they win the block), but could really order the txs any way they want This is where MEV comes into play. For certain DeFi txs validators can pocket a profit for themselves by ordering the txs in an unexpected way
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Chase Sommer
@chasesommer.eth
Wow this is a fantastic summary! Thank you!!
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