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'Cryptocurrency','Initial Coin Offering' and 'Blockchain Officially Added to Webster's Dictionary

Merriam-Webster, one of the most popular dictionaries in the world, has just begun embracing the world of cryptocurrency with the addition of the words ‘cryptocurrency’, ‘blockchain’, and ‘initial coin offerings’ to its ever-expanding words list. The new words are part of a batch of about 800 new words.
The agenda behind this move is to “help clarify the sometimes perplexing domain of digital financial exchanges, striving to use examples as a guiding point.” According to the company: “The sometimes perplexing domain of digital financial exchanges opens a window into a subject that requires explanation for many of us, hence the detailed definition of cryptocurrency, as well as an entry for initial coin offering, which refers to the first sale of Bitcoin-like digital currency.”
Cryptocurrency is defined as “any form of currency that only exists digitally, that usually has no central issuing or regulating authority.” It explains further by noting that the system records transactions and uses cryptography to prevent counterfeit or fraudulent transactions.
As for the term ‘blockchain’, it is being defined as a digital database used within a decentralized network. ‘Initial Coin Offering’ however still has no working page at the moment.
The new additions are a big leap considering it came two years after ‘bitcoin was added to Merriam-Webster Dictionary.

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