Definition ∞ An On-Chain Transaction Pool, often called a mempool, is a temporary storage area where unconfirmed transactions reside before being selected and included in a block by network validators or miners. When a user broadcasts a transaction, it first enters this pool, awaiting processing. Validators then choose transactions from this pool, typically prioritizing those with higher fees, to include in the next block. This pool represents the set of pending operations within a blockchain network.
Context ∞ The state of the On-Chain Transaction Pool is frequently reported in crypto news, especially during periods of high network activity or congestion. Discussions often revolve around transaction fees, confirmation times, and the impact of mempool dynamics on user experience. A large or congested pool can indicate high demand for block space, leading to increased costs and delays. Monitoring the transaction pool provides insight into the real-time demand and operational efficiency of a blockchain network.
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