diff --git a/Paper.tex b/Paper.tex index 57975d1e..18c05588 100644 --- a/Paper.tex +++ b/Paper.tex @@ -690,7 +690,7 @@ \section{Gas and Payment} \label{ch:payment} Since the introduction of EIP-1559 by \cite{EIP-1559} in the \textit{London} hard fork, every transaction included in a block must pay a \textit{base fee}, which is specified as wei per unit of gas consumed and is constant for each transaction within a block. The ether that is paid to meet the base fee is burned (taken out of circulation). The base fee adjusts dynamically as a function of the previous block's gas consumption relative to its \textit{gas target} (a value that is currently half the block's gas limit, which can be adjusted by validators). If the previous block's total gas consumption exceeds the gas target, this indicates excess demand for block space at the current base fee, and the base fee is increased. Conversely, if the gas consumed in the previous block is lower than the gas target, demand for block space is lower than the gas target at the current base fee, and thus the base fee is decreased. This process of adjusting the base fee should bring the average block's gas consumption in line with the gas target. Refer to section \ref{subsec:The_Block} for greater detail on how the base fee is set. -To incentivize validators to include transactions, there is an additional fee known as a \textit{priority fee}, which is also specified as wei per unit of gas consumed. The total fee fee paid by the transactor therefore is the sum of the base fee per gas and the priority fee per gas multiplied by the total gas consumed. Ether used to satisfy the priority fee is delivered to the \textit{beneficiary} address, the address of an account typically under the control of the validator. +To incentivize validators to include transactions, there is an additional fee known as a \textit{priority fee}, which is also specified as wei per unit of gas consumed. The total fee paid by the transactor therefore is the sum of the base fee per gas and the priority fee per gas multiplied by the total gas consumed. Ether used to satisfy the priority fee is delivered to the \textit{beneficiary} address, the address of an account typically under the control of the validator. Transactors using type 2 transactions can specify the maximum priority fee they are willing to pay (\textbf{maxPriorityFeePerGas}) as well as the max total fee they are willing to pay (\textbf{maxFeePerGas}), inclusive of both the priority fee and the base fee. \textbf{maxFeePerGas} must at least as high as the base fee for the transaction to be included in a block. Type 0 and type 1 transactions have only one field for specifiying a gas price--\textbf{gasPrice}--which also must be at least as high as the base fee for inclusion in a block. The amount by which \textbf{gasPrice} is higher than the base fee constitutes the priority fee in the case of a type 0 or type 1 transaction.