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The rise and rise of Ethereum

Move over bitcoin. Ether is fast becoming the digital currency of the moment.

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Fans cool racks of bitcoin-mining machines at a server farm in Guizhou, China. The value of ether, the digital money that lives on an upstart network known as Ethereum, has risen an eye-popping 4,500 per cent since the beginning of 2017, and may soon surpass bitcoin, its inspiration.

THE price of bitcoin has hit record highs in recent months, more than doubling in price since the start of the year. Despite these gains, bitcoin is on the verge of losing its position as the dominant virtual currency.

The value of ether, the digital money that lives on an upstart network

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