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Blockchain technology is about to transform every trust-based interaction of our lives, from financial services to identity, from health care to our Internet of Things devices. In this podcast, host Laura Shin talks with industry pioneers across tech, financial services, health care, government and other sectors about how the blockchain and cryptocurrency will open up new opportunities for incumbents, startups and everyday people to interact more efficiently, directly and globally.

Aug 5, 2022

Kevin Zhou, co-founder of Galois Capital, comes to talk about the possibility of a Proof of Work chain on Ethereum after the Merge, the LUNA death spiral, how he plans to play the Merge, and much more... 


Show highlights:

  • how Kevin got started in crypto 
  • what Galois Capital is and what its investment thesis is
  • why Kevin was more vocal than most about the possibility of the LUNA death spiral
  • whether Kevin made money out of the Terra collapse and what was his strategy
  • what the difficulty bomb in Ethereum is
  • the potential scenarios that could arise after the Merge
  • whether the public is not considering the risks of the Merge
  • how the fact that everybody was telling the same narrative about ETH made Kevin suspicious
  • how Chandler’s statement about forking Ethereum made it a lot more likely that it would happen
  • the groups behind the encouragement of a proof-of-work Ethereum chain
  • whether there is a value proposition for a Proof of Work chain
  • how Kevin used The Cryptopians to remember how the DAO fork went
  • what replay protection is and why it is important when forking a chain
  • why anyone would want to keep the difficulty bomb in a potential proof of work chain
  • Kevin’s predictions about the market cap of the potential Ethereum forks
  • how a proof of work chain of Ethereum would function without the biggest stablecoins like USDT and USDC
  • whether Tether is going to support Ethereum 2
  • why Kevin writes using metaphors related to history and gaming and how those analogies relate to Ethereum
  • how Kevin wanted to “stick it” to the Ethereum Foundation by offering his services
  • whether Vitalik trolled Kevin on Twitter
  • whether Kevin will apply the same strategy he used with ETC after the DAO fork


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What is the Merge?:


Proof of Work Chain

Kevin’s analogy:

Haseeb’s answer to Kevin’s arguments:

Chandler Guo’s proposal:

Kevin’s consulting offer:

BitMEX researchers on the possibility of an Ethereum PoW chain:

CoinDesk article:

Poloniex’s announcement:

Justin Sun’s support of ETHW: