Listen to conversations between two veterans of the crypto industry: Su Zhu, CEO and CIO of Three Arrows Capital, and Hasu, Strategy lead at Flashbots. Exploring the big ideas in crypto from first principles.

In this episode, Hasu sits down with two Ethereum Foundation researchers, Danny Ryan and Tim Beiko, to explore Ethereum's upcoming transition to PoS. Topics discussed include:

• Why do blockchains need consensus?
• How does PoW consensus work today, and how will it change after PoS?
• What happens between the last block of PoW and the first block of PoS?
• The role of client modularity and diversity
• How to test for such an important upgrade

00:00 Intro and guests 03:02 Proof of Stake since 2017  08:18 PoS - Idea to production  12:24 Why do Blockchains need consensus? PoW & PoS Basics  22:21 Why switch to PoS?  37:03 The Merge - How does it happen?  45:14 The Merge - Unbundling of the Consensus & Execution layer  1:01:45 How do you test for such an important upgrade?  1:09:55 End

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