Ether, the native coin of Ethereum, has risen more than 5,000 percent in 2017. It peaked at $396.40. Investors first attributed the surge in the Ethereum price to its faster platform, which processes transactions more quickly than Bitcoin’s. But it turns out that transaction times are just the tip of the iceberg.
Smart contracts, initial coin offerings (ICOs), variable block sizes - the evidence is overwhelmingly in Ethereum’s corner, regardless of what you might hear from so-called purists within the Bitcoin community. Even major institutions are siding with Ethereum. For instance, the Central Bank of Russia is currently testing an Ethereum fork for its own monetary system. This will effectively create the world’s first national cryptocurrency, a service that Bitcoin is incapable of providing.
Some in the community argue this unchangeability is precisely what protects Bitcoin price. To them, Blockchain technology only exists in service to Bitcoin to the singular vision of a decentralized currency