Premining

pre-mine, premine, premining

1. | definition

The mining of a certain number of coins prior to the cryptocurrency being made available to the public. This is generally done by developers prior to the source code being released to the public allowing anyone to mine.

1.1 > Ex.

Ethereum (ETH) was pre-mined for a time before going public.

1.2 > Ex.

Coins issued through an ICO are generally not pre-mined, rather they are simply created and distributed through a smart contract.

* All terms and definitions may change as the Cryptionary improves