The crypto craze is spreading like wildfire, and it doesn’t seem like it’s going stop anytime soon. The Merriam Webster dictionary, which is America’s most trusted online dictionary for the Queen’s language, has caught the ‘crypto-fever.’ The highly reputable dictionary for English word definitions, pronunciation and meanings have added cryptocurrency, initial coin offerings and blockchain to its database of English words.
Cryptocurrency Steadily Going Mainstream
The English language is one of the most dynamic languages in the world, with new words added to the dictionary regularly. On March 5, 2018, Merriam Webster stated in a press release that it had updated its dictionary, adding 850 new words, phrases and new meanings for existing words; including cryptocurrency, blockchain and initial coin offering.
An excerpt from the announcement reads:
“The language doesn’t take a vacation, and neither does the dictionary. The words we use are constantly changing in big ways and small, and we’re here to record those changes.”
Emily Brewster, an associate editor at Merriam Webster, said, “In order for a word to be added to the dictionary, it must have a widespread, sustained and meaningful use. These new words have been added to the dictionary because they have become established members of the English language and are terms people are likely to encounter.”
The Merriam Webster dictionary defines cryptocurrency as “any form of currency that only exists digitally, that usually has no central issuing or regulating authority but instead uses a decentralized system to record transactions and manage the issuance of new units, and that relies on cryptography to prevent counterfeiting and fraudulent transactions.”
The blockchain is defined as “a digital database containing information (such as records of financial transactions) that can be simultaneously used and shared within a large decentralized, publicly accessible network; also: the technology used to create such a database.”
ICO is in the dictionary as an initial offering of a cryptocurrency to the public.
‘Hodl,’ a typographical error of hold which has now been made famous by bitcoiners, is yet to become an official term.
However, the addition of the words blockchain, cryptocurrency and initial coin offering into the English dictionary is a great feat. This development goes a long way to show that the crypto revolution is real and the world is gradually feeling the vibe.