On Oct. 9, The Oxford English Dictionary (OED) made an announcement stating that it had decided to add the word “Satoshi,” — Bitcoin’s (BTC) smallest unit.
Besides being the most recent addition in the dictionary, OED noted on the firm’s update blog published that the word’s use first started seven years ago.
According to the announcement:
“A satoshi is the smallest monetary unit in the Bitcoin cryptocurrency, and is named after Satoshi Nakamoto, the—probably pseudonymous—developer(s) of Bitcoin,” the announcement noted.
Dictionaries’ Crypto jargon
This latest addition of a word that contained in the crypto industry jargon to be part of the reputable English-language vocabulary is not the first.
‘Bitcoin’ as a word was added by OED added in 2013, where it was defined as “a digital currency in which transactions can be performed without the need for a central bank.”
The world’s arbiter on what forms English, Oxford Dictionary Online, furthermore, also decided to accept Cryptocurrency as a word in 2014.
Essentially, it defined Cryptocurrency as “a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank.”
A word that enters into ODO can be removed while the one that enters in the OED can never be removed. The two dictionaries resources also differ in another way in that OED shows how words and meanings supposed to have changed over time, but ODO delves more on the current language and its practical usage.
‘Miner,’ and ‘blockchain’ are also other common terms amongst several crypto and blockchain-related words that Oxford Dictionaries Online (ODO) also defined.
The above cases show how mainstream institutions are continuously accepting and recognizing the cryptocurrency market.