A transaction pool, also known as a mempool, is a temporary storage area where unconfirmed transactions await inclusion in a blockchain block. Nodes collect these pending transactions, verify their validity, and hold them until a miner or validator selects them for processing. The size and content of the transaction pool reflect network congestion and demand for block space. It acts as a staging area for network activity.
Context
The state of the transaction pool is a critical indicator of network health and user experience on public blockchains, particularly during periods of high activity. Fluctuations in gas fees or transaction priority often relate directly to the volume of pending transactions in the mempool. News frequently reports on strategies to optimize transaction processing and reduce congestion, such as layer-2 solutions or dynamic fee mechanisms.
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