fix typos and grammer

econ/Makefile

@@ -2,19 +2,22 @@ BASEDIR  = $(CURDIR)
 INPUTDIR = $(BASEDIR)/source
 OUT_DIR  = $(BASEDIR)/output
 OUT_FILE = akash-econ
+
+TEMPLATE = $(BASEDIR)/support/template.latex
 PDF_OUT  = $(OUT_DIR)/$(OUT_FILE).pdf
 TEX_OUT  = $(OUT_DIR)/$(OUT_FILE).tex
 HTML_OUT = $(OUT_DIR)/$(OUT_FILE).html
 
-FILTERS = -F support/plugins/pandoc-crossref -F pandoc-citeproc
-BIB = support/bib.yaml
-CSL = support/ieee-with-url.csl
+FILTERS = -F $(BASEDIR)/support/plugins/pandoc-crossref -F pandoc-citeproc
+BIB = $(BASEDIR)/support/bib.yaml
+CSL = $(BASEDIR)/support/ieee-with-url.csl
+PANDOC = pandoc -s -N --template=$(TEMPLATE) $(FILTERS) --csl $(CSL) --bibliography $(BIB)
 
 default: pdf
 	open ${PDF_OUT}
 
 pdf: $(INPUTDIR) dirs
-	pandoc -s -N --template=support/template.latex $(INPUTDIR)/*.md -o $(PDF_OUT) $(FILTERS) --csl $(CSL) --bibliography $(BIB)
+	cd $(INPUTDIR) && $(PANDOC) $(INPUTDIR)/*.md -o $(PDF_OUT)
 
 html: $(INPUTDIR) dirs
 	pandoc -s -N --template=support/template.latex $(INPUTDIR)/*.md -$(FILTERS) --csl $(CSL) --bibliography $(BIB) -o $(HTML_OUT)

econ/source/01-intro.md

@@ -1,13 +1,11 @@
 
 # Introduction
 
-Akash is a permission-less marketplace for trading compute cycles where early adopters can enjoy upto **10x** *lower cost* than the current market.
-
-In this paper, we present the economics of the Akash Network by introducing the Akash Token (AKT) model, which is designed to a) maintain ecosystem sovereignty, b) provide economic security, and c) encourage early adoption. Let us begin by reviewing some definitions:
+Akash is a permission-less marketplace for trading compute cycles. In this paper, we present the economics of the Akash Network by introducing the Akash Token (AKT) model, which is designed to a) maintain ecosystem sovereignty, b) provide economic security, and c) encourages early adoption by offering *10x lower* cost than current market solutions. Let us begin by reviewing some definitions:
 
 Akash Token (AKT)
 
-:  AKT is the native token of the Akash Network. The core utility of AKT is to act as a staking mechanism to secure the network and normalize compute prices for the marketplace auction. The amount of AKTs staked towards a validator defines the frequency by which the validator may propose a new block and its weight in votes to commit a block. In return for bonding (staking) to a validator, an AKT holder becomes eligible for block rewards (paid in AKT) as well as a proportion of transaction fees (paid in any of the whitelisted tokens).
+:  AKT is the native token of the Akash Network. The core utility of AKT acts as a staking mechanism to secure the network and normalize compute prices for the marketplace auction. The amount of AKTs staked towards a validator defines the frequency by which the validator may propose a new block and its weight in votes to commit a block. In return for bonding (staking) to a validator, an AKT holder becomes eligible for block rewards (paid in AKT) as well as a proportion of transaction fees and service fees (paid in any of the whitelisted tokens).
 
 Validator 
 
@@ -21,17 +19,17 @@ Provider
 
 :  Providers offer computing cycles (usually unused) on the Akash network and earn a fee for their contributions. Providers are required to maintain a stake in AKT as collateral, proportional to the hourly income earned; hence, every provider is a delegator and/or a validator.
 
-Tenants
+Tenant
 
-:   Tenants lease computing cycles offered by providers for a market-driven price (set using a reverse auction process).
+:   Tenants lease computing cycles offered by providers for a market-driven price (set using a reverse auction process described in below section).
 
 ## Marketplace Overview
 
-A unit of computing ($U \equiv \{ CPU, Memory, Disk \}$) is leased as a container on Akash. A container [@container] is a standard unit of software that packages up code and all its dependencies, so the application runs quickly and reliably from one computing environment to another. A container image is a lightweight, standalone, executable package of software that includes everything needed to run an application: code, runtime, system tools, system libraries, and settings. 
+A unit of computing (*CPU, Memory, Disk*) is leased as a container on Akash. A container [@container] is a standard unit of software that packages up code and all its dependencies, so the application runs quickly and reliably from one computing environment to another. A container image is a lightweight, standalone, executable package of software that includes everything needed to run an application: code, runtime, system tools, system libraries, and settings. 
 
-Any one with a physical machine can slice the machine's resources into containers using a process called virtualization. Docker is a company that provides widely adoption container virtualization technology, and it is common to refer to containers as "docker images." The relation between a physical computer and a container is illustrated in [@fig:containers]).
+Any one with a physical machine (ie, computer, server) can slice the machine's resources into containers using a process called virtualization. Docker is a company that provides widely adopted container virtualization technology, and it is common to refer to containers as "docker images." The relation between a physical computer and a container is illustrated in [@fig:containers]).
 
-All marketplace transactions are persisted on the Akash blockchain. To lease a container, the *tenant* (developer) requests a deployment by specifying the type(s) of unit(s), and the quantity of each type of unit. To specify a type of unit, the tenant specifies attributes to match, such as region (e.g. US) or privacy features (e.g. Intel SGX). The tenant also specifies the maximum price they're willing to pay for each type of unit.
+All marketplace transactions are on the Akash blockchain. To lease a container, the *tenant* (developer) requests a deployment by specifying the type(s) of unit(s), and the quantity of each type of unit. To specify a type of unit, the tenant specifies attributes to match, such as region (e.g. US) or privacy features (e.g. Intel SGX). The tenant also specifies the maximum price they are willing to pay for each type of unit.
 
 An *order* is created in the order book (upon acceptance by a validator).
 

econ/source/012-provider.md

@@ -1,6 +1,6 @@
 # Provider Economics
 
-In section, we present economics for a provider offering computing services on Akash. 
+In this section, we present economics for a provider offering computing services on Akash. 
 
 First, let us examine the current pricing model on popular cloud infrastructure providers, Amazon Web Services (AWS), Google Compute Platform (GCP), and Microsoft Azure. Most providers now offer virtualized computing packaged as *containers*.
 
@@ -11,7 +11,7 @@ $$
 UnitCost(t) = \frac{ServerCost(t)}{UnitYield \times Utilization(t)}
 $$
 
-where `ServerCost` is the capital and operational expenditure for the server and `Utilization` is the amount of resources consumed (without the operating overheard). 
+where $ServerCost$ is the capital and operational expenditure for the server and $Utilization$ is the amount of resources consumed (without the operating overheard). 
 
 As of the writing of this paper, the current prices to lease a *container-unit* (1 GB Memory and 1 CPU) for an hour are as follows:
 
@@ -29,7 +29,7 @@ Lets us now determine a provider's cost-benefit to offer containers by consideri
 
 In this scenario, consider $Provider_A$ has a fleet of underutilized servers and intends to recover deployed capital and subsidize operating expenditure. These servers (also referred to as "rack units") are enclosed in a *cabinet* hosted at a datacenter. A server cabinet (also referred to as a "rack") is a standardized enclosure for mounting multiple servers. Datacenter providers typically charge by cabinet for electricity, real estate, and high-performance internet connectivity.
 
-Considering a typical cabinet costs around USD *559,176* in capital expenditure and USD *1,800* in operating expenditure as illustrated in [@fig:cabinet-cost] with a shelf life (time for performance deprecation to sub-optimal levels) of *3 years*, the provider needs to earn $559,176 + 1800 \times 3 \times 12 = 688,776$ USD (or 229,592 USD / Year) for full capital recovery.
+A typical cabinet costs around USD *559,176* in capital expenditure and USD *1,800* in operating expenditure as illustrated in [@fig:cabinet-cost] with a shelf life (time for performance deprecation to sub-optimal levels) of *3 years*, the provider needs to earn: $559,176 + 1800 \times 3 \times 12 = 688,776$ USD (or 229,592 USD / Year) for full capital recovery.
 
 Considering a unit yield of *3,192 per Cabinet*, at 100% utilization, the provider can offer a container for no less than *0.013* USD and, at 40% utilization, the price will be *0.034* USD.
 
@@ -47,7 +47,7 @@ The utilization risk combined with a low-value proposition is a reason why provi
 
 ## Akash Advantage
 
-By capitalizing on AKT's staking incentives along with employing *re-stake mining strategy* described in [@sec:restake-mining], both $Provider_A$ and $Provider_B$ can offer to compute at ***10x*** lower cost than AWS while earning a profit as illustrated in [@fig:stake-income]
+By capitalizing on AKT's staking incentives along with employing *re-stake mining strategy* described in [@sec:restake-mining], both $Provider_A$ and $Provider_B$ can offer to compute at/up to ***10x*** lower cost than AWS while earning a profit as illustrated in [@fig:stake-income]
 
 ![Staked income for providers over three years when re-staking on the initial stake for three years](figures/stake-income.png){#fig:stake-income}
 

econ/source/013-pos.md

@@ -13,7 +13,7 @@ Voting power is determined by a validator’s bonded stake (not reputation or re
 
 These security deposits are locked in a bonded account and only released after an “unbonding period” in the event the staker wishes to unbond. Slashing allows for punishing bad actors that are caught causing any attributable Byzantine faults that harm the well-functioning the system.
 
-The slashing condition and the respective attributable Byzantine faults and punishments are beyond the scope of this paper.
+The slashing condition and the respective attributable Byzantine faults and punishments are beyond the scope of this paper. (For more information on these, please review Akash Network Technical White paper).
 
 ## Limits on Number of Validators