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Automatically merged updates to draft EIP(s) 3416 (#3442)

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EIPS/eip-3416.md
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@ -11,13 +11,13 @@ created: 2021-03-18
## Simple Summary
A transaction pricing mechanism that includes an fixed-per-block network fee plus a *median* premium fee per transaction and chosen by sender. Also, dynamically expands/contracts block sizes to deal with transient congestion. Wallets are not affected by this proposal, and initial prices continue from previous point.
A transaction pricing mechanism with a fixed-per-block network fee and a median inclusion fee.
## Abstract
There is a base fee per gas in protocol, which can move up or down by a maximum of 1/8 in each block. The base fee per gas is adjusted by the protocol to target an average gas usage per block instead of an absolute gas usage per block. The base fee is increased when blocks are over the gas limit target and decreases when blocks are under the gas limit target. Transaction senders specify their fees by providing *only one value*:
* The fee cap which represents the maximum total (base fee + gas premium) that the transaction sender would be willing to pay to get their transaction included. Resembles the current maximum gas price specified by senders but in this protocol change proposal the final gas price paid, most of the time, will be lower than the proposed by the transaction sender.
* The fee cap which represents the maximum total (base fee + gas premium) that the transaction sender would be willing to pay to get their transaction included, resembles the current maximum gas price specified by senders but in this protocol change proposal the final gas price paid, most of the time, will be lower than the proposed by the transaction sender.
Then there is a gas premium that is directly computed as 50% of (fee cap - base fee). This gas premium gets added onto the base fee to calculate the gas price that will be used in the weighted median computation. The gas premium, determined directly by a specified fee cap, can either be set to a fairly low value to compensate miners for uncle rate risk only with the base fee, or to a high value to compete during sudden bursts of activity. Using all transactions that the miner wants to include in the block, a **weighted median gas premium** is computed, not considering in the computation 5% of gas price outliers on the upper-side for extra robustness against miner manipulation. The median gas premium *plus the base fee* is given to the miner.