Premine: Defined in CryptoCurrency

Premine: Defined in CryptoCurrency

 

Premine is a condition of some new cryptocurrencies, where the max supply has already been created before being made publicly available. This means, no new coins will be creating during the mining process. 

Mining is a computer process of recording and verifying information on the digital record known as the blockchain. Each computer that fulfills this process can earn a reward in digital money and with cryptocurrencyes that have not been premined, a reward of brand new coins.