Proof of Stake vs Proof of Work

5min Snip

00:00

Play full episode

Summary

Transcript

Episode notes

In proof of work, we make a claimh if not more than 50 % of anyone on the network has more than 50% of the mining assets and power. And so you do that, you solve these kind of hashingalgaritm puzzles through the burning of energy. The protocol incentivizes those that get to make a block. They get some sort of issuance. So they get new assets, also, new ether n the form of the theorium m. Also get to get transaction fees or other types of privileged things related to making blocks. In proof of stake, i take, it's a very similar idea. I like to call it proof of dedication of scarce resource to the

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

SUBSCRIBE to the Podcast

FOLLOW your hosts