Instamining (from the words “instant” and “mining”) is usually used alternatively for premining in the cases where closed groups , usually consisted of the developers of a cryptocurrency project, mine a huge number of the coins before launching it to the public.
The difficulty level in such scenarios is insanely low, so having just a few mining units exclusively mining the currency, leads to colossal rewards , because every block reward is awarded to just a few people before more the public launch where everybody can join with the difficulty rising and the rewards being distributed to all the people who support the network.
The outcome is quite the same with that of “premining”.
In other words, instamining was created as a different approach for the same goal, in most cases simply just targeting to get rid of the “premining” label.
Yet again, the consequenses are the same , leading to a feeling of lack of transparency for the digital currencies offered to the public, because with instamine developers are able to “supernaturally” mine and allocate a huge number of coins to themselves before releasing the the project to the public.
It is rumoured that even Satoshi Nakamoto himself and his close friends had “instamined” the legendary Bitcoin, accumulating huge amounts of the coin, however this has never been completely verified .
Instamining should not be confused with the ultra low difficulty in the mining procedure of a digital coin for a period (even a long one) because of its unpopularity or the lack of interest. This is not instamining , from the moment that the source code has been released publicly. The very low difficulty is completely expected , and this is obviously the reason why a closed group of people seem to have made it to accumulate large amounts of the original bitcoin, simply because during the first months , or even years of the legendary cryptocurrency , almost noone had even heard of it or was believing in the success of the project so the block rewards were huge for the very few who mined it.
BitcoinZ , following the steps of the original Bitcoin , and being launched during a period that almost everyone had heard of cryptocurrencies, made it to be even more transparent, because everyone could mine it with a completely fair balance of rewards, from the very first moments after its public launch, without any instamine period and of course with zero premine.