Dictionary
Words, grammatical forms and meanings linked to the ontology.
premine en · NOUN
Etymology
From pre- + mine.
Meanings
-
An instance of premining.
Podcast host and Bitcoin enthusiast Matt Odell brought up these criticisms in October 2018 and Vitalik responded on Twitter, “I personally am really proud to have helped set the precedent of small premines being legitimate. […]
2020 November 7, Camila Russo, “Sale of the Century: The Inside Story of Ethereum's 2014 Premine”, in CoinDesk, archived from the original on 17 Jun 2024:
Forms
premine en · VERB
Etymology
From pre- + mine.
Meanings
-
(transitive) To mine (units of a cryptocurrency) in advance of that currency being made available to the public.
Ethereum and other projects that premine their coins are criticized because control of the cryptocurrency’s supply is potentially more centralized among “insiders” who participated in the presale and could manipulate the price or influence governance decisions. […] The sale documents said that once the Ethereum blockchain launched and the premined ether was issued, miners would generate new ether initially at an annual rate of 26% of the amount of ether issued in the crowdsale – the issuance rate isn’t fixed and is capped at 18 million ETH minted per year.
2020 November 7, Camila Russo, “Sale of the Century: The Inside Story of Ethereum's 2014 Premine”, in CoinDesk, archived from the original on 17 Jun 2024:"Premining" is where the currency creator mines a certain amount of coins for themselves before they release the currency for other miners.
2014 June 13, Black Market Cryptocurrencies:
Forms