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What is mempool?

Mempool: A broad term which can refer to:

  • A component of validating and full nodes which accepts not-yet-finalized transactions for future inclusion in a block (only validating nodes can produce new blocks).
  • The fuzzy set of not-yet-finalized transactions included in the network's individual mempools. This set is fuzzy because individual mempools are unlikely to be consistent at any given time due to network delays and partitions.

How does mempool work?

Transaction requests are sent to mempool and be pending for execution. Mempool functions as a queue to store the pending transaction and arrange their order to be executed by nodes. The ranking formulation follows the criteria:

  • Transactions are executed sequentially according to nonce, a component of the account requesting these transactions.
  • Validating node chooses transactions reasonably to maximize the benefits (Tip, Gas Price, etc.) gained by executing them.
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