One of the most important dictionaries of the world, the Merriam-Webster, has gotten an update this week. The dictionary announced this Monday that the words “blockchain”, “cryptocurrency” and “Initial Coin Offering” has been added along with 800 new entries.
Three New Entries In The Websters’s Dictionary
The company has stated that this decision was taken to help in the clarification of terms of the digital finances market. The definition of the word “Cryptocurrency” in the Webster dictionary is “any form of currency that only exists digitally, that usually has no central issuing or regulating authority”. It also states that the coins have their transactions automatically recorded and that they are encrypted.
“Blockchain” is another term to appear in the Merriam-Webster dictionary. It states that blockchains are digital databases which can be used for the creation of a decentralized network.
These additions have appeared almost two years after “Bitcoin” was added to the dictionary. Terms like “mining”, though, still do not have a proper cryptocurrency definition on the dictionary.