2

What I am wondering is how the Merkle tree for a MAM stream is implemented in the Tangle. Is each set of new data in the stream basically a "leaf", and considered a separate transaction on the Tangle that requires confirmation from two tips?

1

Yes exactly, each leaf is a new transaction.

However, since Mam transactions do not have any “value”, they do not actually need any validation. They are immediately available to fetch after they are published

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-1

this article should help understand how MAM works:

https://medium.com/coinmonks/iota-mam-eloquently-explained-d7505863b413

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