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Master Seed

    A master seed is a collection of all the private keys necessary to generate every address for a cryptocurrency wallet. A wallet is generally just a single complete instance of those keys, along with other associated data like transactions and balances. Data for wallets and seeds are typically stored locally on a hardware device.
    Mempool (or memory pool) is a temporary storage area for unconfirmed transactions on a blockchain. Transactions enters the mempool upon creation. Block miners, in turn, take groups of transactions from the mempool to build blocks.