Description: The Mempool, short for ‘Memory Pool’, is a collection of unconfirmed transactions waiting to be added to the blockchain. Whenever a user makes a transaction on a blockchain network, it is sent to the network and temporarily stored in the Mempool of nodes. The Mempool acts as an intermediate storage space where transactions are verified and organized before being included in a block. The importance of the Mempool lies in its function as a buffer that allows miners and validators to select the transactions they wish to process, often prioritizing those with higher fees. This means that the Mempool not only reflects network activity but also influences fee dynamics and confirmation times. In the context of various blockchain networks, the Mempool can also contain transactions related to smart contract execution, adding an additional layer of complexity. In summary, the Mempool is an essential component in the infrastructure of cryptocurrencies, facilitating the efficient management of transactions before their inclusion in the blockchain.
