The cryptocurrency craze is scattering like wildfire and does not seem to stop anytime soon. The ‘crypto-fever’ has been caught by the Merriam Webster dictionary, the most trusted online dictionary in America for the Queen’s dialect. The highly regarded dictionary for English word pronunciation, meanings and definitions has included blockchain, initial coin offerings and cryptocurrency to its database.
Cryptocurrency Progressively Going Mainstream
For some people, anything that is not written and its meaning included in the Webster’s dictionary is termed as not existing. The English dialect is among the most dynamic languages around the globe, whereby new words are regularly added to the dictionary. On March 5, 2018, in a press release, Merriam Webster stated of updating its dictionary by putting 850 more new phrases, words and meanings including initial coin offering, cryptocurrency, and blockchain.
From the announcement, an excerpt read, “The language does not take the vacation, and neither the dictionary. The words we employ are continually changing in major and small ways, and we are here to witness those changes.”
Merriam Webster associate editor, Emily Brewster said, “To add a word in the dictionary, it has to have a broad, meaningful and sustained use. The new words are included in the dictionary since they have become a strong part of the English dialect and are the terms people can encounter.”
Official Definitions
In the Merriam Webster dictionary, cryptocurrency is defined as any currency that merely exists in digital form, has no regulating authority or central issuing but rather applies the decentralized system to manage and record transactions and issuance of new units, and which depends on cryptography to avoid fraudulent and counterfeiting transactions.”
The blockchain is described as “a digital database holding information (such as records of monetary transactions) that can be concurrently utilized and shared within a big decentralized and publicly accessible network; likewise: the technology applied in creating such a database.”
In the dictionary, ICO is described as initial cryptocurrency offering to the public. However, ‘Hodl,’ a typographical hold error which has presently become common with bitcoiners, has not become an authorized term.
Nevertheless, the inclusion of blockchain, cryptocurrency and ICO words into Webster English dictionary is a huge feat. The progression goes a lengthy way in showing that cryptocurrency revolution is true and the world is steadily feeling the vibe!
