#shanghai

Judge Sun Jie of the Shanghai Songjiang People’s Court published an article on the Shanghai High People’s Court’s official WeChat account, clarifying the legal stance on virtual currencies.

JPMorgan’s research report reveals that Ethereum has witnessed a surge in ETH staking following the Merge and Shanghai upgrades. However, this growth comes at a cost: increased centralization and reduced overall staking yields.

A research team from Shanghai University executed the first successful quantum attack on encryption algorithms. In the paper “D-Wave Advantage,” the team wrote they could crack classic encryption algorithms using a computer from Canada’s D-Wave Systems.

Ethereum supporters are looking forward to the upcoming crypto spring. Another network update, dubbed Shanghai Fork, is scheduled for March. Shanghai Fork will allow users to access the funds locked into the Ethereum Beacon Chain. Depositors will be able to participate in validating transactions and earn newly-created Ethereum. J.P. Morgan believes Shanghai Fork will be a pleasant surprise for Coinbase as well. It estimates that up to 95% of retail investors of this crypto exchange will be able to participate in Ethereum staking after the update. The matter is that Coinbase may get additional revenue of about $225-$545 million per year.