We present a continuum theory which predicts the steady state propagation of cracks. The theory overcomes the usual problem of a finite time cusp singularity of the Grinfeld instability by the inclusion of elastodynamic effects which restore selection of the steady state tip radius and velocity. We developed a phase-field model for elastically induced phase transitions; in the limit of small or vanishing elastic coefficients in the new phase, fracture can be studied. The simulations confirm analytical predictions for fast crack propagation.