Dictionary plays a pivotal role in guiding students or anyone who is searching for a precise definition of a word. The trusted source like Merriam Webster Dictionary will be helpful for the public to find the accurate meaning of cryptocurrency and the words surrounding this topic.
The Merriam Webster is a reputed dictionary from the United States. Already since 1831 words and their definitions are listed there. Today it belongs to the even more prestigious Encyclopedia Britannica. Per the statements from the publisher, the dictionary will contain the words “cryptocurrency”, “ICO” and “blockchain”. The publisher announced that more than 850 new words from various areas that have become common in English usage are listed. Among other things, you can also find the words “dumpster fire,” “glamping,” “welp,” and “life hack,” in the future.
Statement from the publisher reads as below,
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. Each word has taken its own path in its own time to become part of our language — to be used frequently enough by some in order to be placed in a reference for all. If you’re likely to encounter a word in the wild, whether in the news, a restaurant menu
The dictionary defines cryptocurrencies as “any form of currency that exists only digitally and is not ordinarily enacted or regulated by a government, but instead uses a decentralized system for recording transactions and creating new entities, and which uses cryptography, to prevent counterfeiting and frauds “. The first currency that meets this definition dates back to 1990, which, according to Merriam-Webster, happened 18 years before the introduction of Bitcoin.
The first official use of the word Blockchain is attributed to 2011. An ICO is defined as “Initial Coin Offering of a Cryptocurrency to the Public”. This form of cryptocurrency exists according to the dictionary since 2014.