Understanding the Bitcoin Mempool and Why It’s So Important

The Bitcoin Mempool is a critical component of Bitcoin's core functionality. Mempool is simply a shortened version of the phrase “Memory Pool.” This protocol is the first place that any new transactions are noted on Bitcoin's blockchain. In essence, it’s a holding pen for all pending transactions before they are presented to miners. Notably, every node maintains a Mempool. Mempool allows Bitcoin’s network to keep track and manage all of its transactions in an organized and democratic manner. Remember, Bitcoin…