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Update EIP-7788: fix spelling error #9345

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6 changes: 3 additions & 3 deletions EIPS/eip-7788.md
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## Motivation

Ethereum currently uses a target of 50% capacity for blob count, with [EIP-1559](./eip-1559.md) smoothing out short term spikes and pushing average throughput towards the target. A dynamic target is orthogonal to EIP-1559, tweaking the target itself over a longer timescale to aim for some desired blob cost.
Ethereum currently uses a target of 50% capacity for blob count, with [EIP-1559](./eip-1559.md) smoothing out short-term spikes and pushing average throughput towards the target. A dynamic target is orthogonal to EIP-1559, tweaking the target itself over a longer timescale to aim for some desired blob cost.

With static targeting the target may be higher than the actual demand, causing the protocol to undercharge for blobspace. This decreases the amount of fees burned, negatively affecting the price of ETH and total network security.

As an example, consider what would happen if there was a large increase in max blob count due to DAS implementation but the target remained at 50%. It is unlikely that demand would immediately jump to anywhere near the target, and so for months or years the protocol would effectively charge nothing for L2 transactions. With a dynamic target, the target blob count would drop until the cost of blobspace for an L2 transaction approximated some affordable constant value. In this way, some fees are still burned by the protocol, but new L2s are not discouraged from using Ethereum blobspace, knowing that the target will increase in response to an increase in demand and blob fees will remain reasonably consisent.
As an example, consider what would happen if there was a large increase in max blob count due to DAS implementation but the target remained at 50%. It is unlikely that demand would immediately jump to anywhere near the target, and so for months or years the protocol would effectively charge nothing for L2 transactions. With a dynamic target, the target blob count would drop until the cost of blobspace for an L2 transaction approximated some affordable constant value. In this way, some fees are still burned by the protocol, but new L2s are not discouraged from using Ethereum blobspace, knowing that the target will increase in response to an increase in demand and blob fees will remain reasonably consistent.

While the max blob count and max target are hard constraints based on resource utilisation limits, setting the target itself is far more subjective. A dynamic target can optimise for constant and affordable L2 transaction costs without requiring regular intervention by core developers to make tweaks based on changes in demand.

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(23 / 125000) * TARGET_BLOB_COST ≈ 104 gWei
```

At todays prices, $1 would cover blobspace for around 3700 simple transfers on L2. The blob cost target should be chosen with extensive community involvement. Note that this is the cost of blobspace for an L2 transaction; the total cost will be more due to rollup execution costs.
At today’s prices, $1 would cover blobspace for around 3700 simple transfers on L2. The blob cost target should be chosen with extensive community involvement. Note that this is the cost of blobspace for an L2 transaction; the total cost will be more due to rollup execution costs.

`TARGET_BLOB_COUNT_CHANGE_RATE` is chosen as a compromise between the system being reactive to changes in demand, and not having large jumps in average throughput. `BLOB_COST_CHANGE_MARGIN` is set such that target blob count will stay static when blob costs are within a range ±50% of `TARGET_BLOB_COST`.

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## Security Considerations

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Needs discussion.

## Copyright
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