Ethereum Shanghai Upgrade & Ripple XRP CaseWe bring the latest news in Cryptocurrency. Ethereum is set to receive a major upgrade with its "Shanghai" hard fork. The upgrade was announced on the official Ethereum blog and is expected to be implemented in July of this year. In addition, Ripple's legal battle against the U.S. Securities and Exchange Commission (SEC) continues as XRP holders have requested to be allowed to intervene in the case.
The much-awaited Ethereum hard fork is scheduled for mid-July this year and will see its blockchain updated with performance enhancements, security patches, and changes that improve scalability. This upgrade was initially planned for late 2020 but had to be postponed due to various technical issues.
The new features included in Ethereum's Shanghai upgrade are improvements on scalability, privacy, decentralization, and interoperability between blockchains. Additionally, the new version will also include an increase in Ether’s supply cap from 14 million ETH per month to 18 million ETH per month.
Elsewhere in crypto news, one of the biggest legal battles between Ripple labs and U.S Securities Exchange has taken another twist with XRP holders filing a motion requesting permission from a U.S court to intervene in the case.
This controversial lawsuit revolves around whether or not XRP should be classed as a security or not by the SEC. If it were deemed as such then it would lead to Ripple having to register with various US regulatory bodies which could potentially cause significant problems for the company.
The motion filed by XRP holders aims to be represented in the court proceedings so that they can present their own views on why they believe that XRP should not be classified as a security.