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imp (docs): Point to Evmos mempool docs for tx prioritization #1536

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Dec 7, 2022
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imp (docs): Point to Evmos mempool docs for tx prioritization #1536

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a4c1622
Adjust priority tip docs to point to Evmos mempool docs
Dec 6, 2022
c3f58bd
remove some typos and out of place commas in feemarket concepts
Dec 6, 2022
fbe672b
add missing "in"
Dec 6, 2022
3e2c106
Merge branch 'main' into malte/minor-docs-fix
MalteHerrmann Dec 6, 2022
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Merge branch 'main' into malte/minor-docs-fix
fedekunze Dec 7, 2022
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24 changes: 18 additions & 6 deletions x/feemarket/spec/01_concepts.md
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Expand Up @@ -14,18 +14,26 @@ Before EIP-1559 the transaction fee is calculated with
fee = gasPrice * gasLimit
```

, where `gasPrice` is the price per gas and `gasLimit` describes the amount of gas required to perform the transaction. The more complex operations a transaction requires, the higher the gasLimit (See [Executing EVM bytecode](https://docs.evmos.org/modules/evm/01_concepts.html#executing-evm-bytecode)). To submit a transaction, the signer needs to specify the `gasPrice`.
where `gasPrice` is the price per gas and `gasLimit` describes the amount of gas required to perform the transaction.
The more complex operations a transaction requires, the higher the gasLimit (See [Executing EVM bytecode](https://docs.evmos.org/modules/evm/01_concepts.html#executing-evm-bytecode)).
To submit a transaction, the signer needs to specify the `gasPrice`.

With EIP-1559 enabled, the transaction fee is calculated with

```
fee = (baseFee + priorityTip) * gasLimit
```

, where `baseFee` is the fixed-per-block network fee per gas and `priorityTip` is an additional fee per gas that can be set optionally. Note, that both the base fee and the priority tip are a gas prices. To submit a transaction with EIP-1559, the signer needs to specify the `gasFeeCap` a maximum fee per gas they are willing to pay total and optionally the `priorityTip` , which covers both the priority fee and the block's network fee per gas (aka: base fee).
where `baseFee` is the fixed-per-block network fee per gas and `priorityTip` is an additional fee per gas that can be set optionally.
Note, that both the base fee and the priority tip are gas prices.
To submit a transaction with EIP-1559, the signer needs to specify the `gasFeeCap`, which is the maximum fee per gas they are willing to pay in total.
Optionally, the `priorityTip` can be specified, which covers both the priority fee and the block's network fee per gas (aka: base fee).

::: tip
The Cosmos SDK uses a different terminology for `gas` than Ethereum. What is called `gasLimit` on Ethereum is called `gasWanted` on Cosmos. You might encounter both terminologies on Evmos since it builds Ethereum on top of the SDK, e.g. when using different wallets like Keplr for Cosmos and Metamask for Ethereum.
The Cosmos SDK uses a different terminology for `gas` than Ethereum.
What is called `gasLimit` on Ethereum is called `gasWanted` on Cosmos.
You might encounter both terminologies on Evmos since it builds Ethereum on top of the SDK,
e.g. when using different wallets like Keplr for Cosmos and Metamask for Ethereum.
:::

## Base Fee
Expand All @@ -39,13 +47,17 @@ Instead of burning the base fee (as implemented on Ethereum), the `feemarket` mo

## Priority Tip

In EIP-1559, the `max_priority_fee_per_gas`, often referred to as `tip`, is an additional gas price that can be added to the `baseFee` in order to incentive transaction prioritization. The higher the tip, the more likely the transaction is included in the block.
In EIP-1559, the `max_priority_fee_per_gas`, often referred to as `tip`,
is an additional gas price that can be added to the `baseFee` in order to incentivize transaction prioritization.
The higher the tip, the more likely the transaction is included in the block.

Until the Cosmos SDK version v0.46, however, there is no notion of transaction prioritization. Thus the tip for an EIP-1559 transaction on Ethermint should be zero (`MaxPriorityFeePerGas` JSON-RPC endpoint returns `0`). Have a look at [ADR 067](https://github.com/tendermint/tendermint/blob/master/docs/architecture/adr-067-mempool-refactor.md) to read about future plans on transaction prioritization in the Cosmos SDK.
Until the Cosmos SDK version v0.46, however, there is no notion of transaction prioritization.
Thus, the tip for an EIP-1559 transaction on Ethermint should be zero (`MaxPriorityFeePerGas` JSON-RPC endpoint returns `0`).
Have a look at the [mempool](https://docs.evmos.org/validators/setup/mempool.html) docs to read more about how to leverage transaction prioritization.

## Effective Gas price

For EIP-1559 transactions (dynamic fee transactions) the effective gas price descibes the maximum gas price that a transaction is willing to provide. It is derived from the transaction arguments and the base fee parameter. Depending on which one is smaller, the effective gas price is either the `baseFee + tip` or the `gasFeeCap`
For EIP-1559 transactions (dynamic fee transactions) the effective gas price describes the maximum gas price that a transaction is willing to provide. It is derived from the transaction arguments and the base fee parameter. Depending on which one is smaller, the effective gas price is either the `baseFee + tip` or the `gasFeeCap`

```
min(baseFee + gasTipCap, gasFeeCap)
Expand Down