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The Ethereum Premine Debate On Fairness, Regulation, and Centralization
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You may not be aware of this, but back in July 2014, Ethereum (ETH) had a premine in which around ETH 60m (worth around USD 272bn now) tokens were sold for a total of USD 18.3m, while 12m was kept aside for early contributors and the Ethereum Foundation. At ETH 72m, this total accounts for around 63.7% of Ethereum’s current total supply, raising the specter of centralization, particularly as the platform transitions to a proof-of-stake (PoS) consensus mechanism.
Indeed, for many of Ethereum’s
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