Loading cryptocurrency prices...

What Is Cryptocurrency? Just Look It Up In The Merriam-Webster Dictionary!

- Advertisement -

The editors of the Merriam-Webster Dictionary have announced that a slew of new words have been added to their official lexicon, including “cryptocurrency,” and “ICO.”

It seems that “cryptocurrency” and “ICO” are among the 850 new words that are to be added to the Merriam-Webster Dictionary. Inclusion is determined by a daily process conducted by the editors called “reading and marking.”

The editors closely monitor the frequency and way in which a word is used in order to track its permeation into the public vernacular. In recognition of their classification as two of the “words people use most,” the definitions for “cryptocurrency” and “ICO” are as follows:

Cryptocurrency: 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.

ICO: an initial offering of a cryptocurrency to the public.

The term bears striking similarity to the traditional financial phrase “initial public offering,” despite notable regulatory deviations, like accredited investor requirements.

- Advertisement -

“Each word has taken its own path in its own time to become part of our language,” notes Merriam-Webster, “to be used frequently enough by some in order to be placed in a reference for all.” 

These new words will join other ecosystem terms previously recognized by Merriam-Webster, like “Bitcoin” and “blockchain,” in the dictionary’s efforts to help define “the sometimes perplexing domain of digital financial exchanges” that is, in part, now comprised of cryptocurrency transactions. 

Jordan Daniell is a full-time staff writer for ETHNews with a passionate interest in techno-social developments and cultural evolution. Jordan enjoys the outdoors, especially astronomy, and likes to play the bag pipes and explore southern California on foot in his spare time. Jordan lives in Los Angeles and holds value in Ether.

Like what you read? Follow us on X @Bitnewsbot to receive the latest Merriam-Webster Dictionary, Merriam-Webster or other Ethereum lifestyle news.



Previous Articles:

- Advertisement -

Latest News

Theta Partners with Ulsan HD FC to Launch AI Fan Agent

THETA Network partners with Ulsan HD FC, South Korea’s football club and three-time K...

Semler Scientific Shareholder Sues to Block Strive Bitcoin Merger

A shareholder filed a lawsuit to block the merger of Semler Scientific and Strive,...

The 15 Best Crypto Advertising Networks to Grow Your Project

You've launched your crypto project. You've got the tech, the tokenomics, and maybe even...

71 Nations Dump Dollar as Gold Buying Surges, JPMorgan Warns

The share of U.S. dollar reserves worldwide has dropped below 60% for the first...

Bitcoin Risks Deeper Drop as $107K Support Faces Critical Test

Bitcoin’s recovery after Friday’s crash remains weak, with prices hovering just above a key...
- Advertisement -

Must Read

Top 10 Best Blockchain Games

If you want to know about the best blockchain games then read this article carefully. We listed the best games you can play and...