The Merriam-Webster dictionary, a reference for many English-speaking people around the world, has added 850 new words. They include “cryptocurrency”, “blockchain” and “Initial Coin Offering (ICO)”.
According to the dictionary, a cryptocurrency is:
“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.”
Their definition of Blockchain is the following:
“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.”
While the way they defined ICOs goes like this:
“the first sale of a cryptocurrency to the public conducted for the purpose of raising funds (as to support a start-up).”
The dictionary also added words like “kombucha” and “life hack” and many others.