A memory pool is simply a "waiting room" that holds the unconfirmed transactions.
One of the most prominent uses of the Mempool is to get pending transactions.
When a node receives a transaction, it will propagate the transaction to peer nodes until a farmer approves the transaction and adds it to a new block.
As the transaction move from mempool to the farmers, they are sorted and processed according to profitability.
1. Mem size
It is the number of transactions in mempool to,that is to be processed.
A high mempool size indicates more network traffic which result in higher priority fees.
2. Mem fee
It shows how much people paying for the transaction.
If mempool is not full, It will accept all transactions regardless of fees.
3. Min fee
It is the minimum relay fee for the mempool when the mempool gets too big.
When mempool becomes full it will start rejecting or it will not accept any more transactions.
It is the total number of mempool added to the queue.
After a new block added to the blockchain, all full nodes check out the coins that are spent and remove them from mempool.