By CCN Markets: Year-to-date, litecoin price has increased by 357 percent against the U.S. dollar, outperforming every top ten crypto asset in the global market including bitcoin, Ethereum, and EOS. The consistent increase in the value of the crypto asset is said to have been triggered by the anticipation of its block reward halving that is expected to occur in about two months. Crypto assets based on proof-of-work (PoW) blockchain networks that involve mining in the likes of bitcoin and litecoin go through a mechanism called halving every four years, an event that reduces the rate of the production of
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