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Though all three have increased in value during the past 12 months, Ethereum has charted its own distinct path, spiking in June 2017 and surpassing 1,000 in early January 2018. In fact, a group of companies and universities has formed a nonprofit expressly to legitimize Ethereum; promote it as an open-source platform and not a commercial enterprise per se; and develop and support those applications that run. Bitcoin has spawned hundreds of cryptocurrencies. Of course, buyers and sellers can simply trade Ether independently of these activities. If only it was that easy. A Litecoin block takes only.5 minutes to hash, compared to the 10 minutes it takes to hash a bitcoin block.