We want to wish the entire community well during the COVID-19 pandemic. While things are turbulent right now, we wanted to share a new post that dives deep into the mempool so that you can dig into an important part of the Web3 ecosystem.
Blockchains are transaction machines. But on-chain data represents value-at-rest — confirmed transactions. While pre-chain, or mempool, data explores value-in motion — transactions in flight.
To date, the industry has largely focused on value-at-rest. This is an important piece of the Web3 puzzle. But for any transaction to be included in a block, it must move through the mempool. And unlike the blockchain — which acts as a definitive record — the mempool is chaotic, fragmented, and often unpredictable.
In the course of building infrastructure to monitor the mempool, we've learned a lot about how it works. And at ETHDenver 2020 Matt Cutler, Blocknative's CEO and co-founder, shared some important lessons in his talk Mastering the Mempool: