October 29, 2020

The term Satoshi is included in the Oxford English Dictionary

The term Satoshi is included in the Oxford English Dictionary

The Oxford English Dictionary (OED), which positions itself as the “final record of English language, ”added the word“ satoshi ”to his database.

The dictionary is published with the participation of OxfordUniversity (OUP) and monitors the development of the English language over the past hundreds of years, "providing an exhaustive resource to scientists and academic researchers, as well as describing the use in many of its variations around the world."

Work on the dictionary began in 1857, and althoughthe most recent print edition (2nd edition) was published in 1989, and an online version has been available since 2000. Editors are currently working on the third edition of the dictionary, which will include more than 600,000 words.

According to a dictionary blog post, in its latest quarterly update, the word “satoshi” has become the latest addition, here is the official definition:

“The smallest monetary unit in the digital payment system of bitcoin, equal to one hundred millionths of BTC.”

The dictionary also provides the etymology of the word "satoshi":

"The name of Satoshi Nakamoto (supposedly born in 1975), who is credited with creating bitcoin, is supposedly the pseudonym of one or more unknown persons."

As for the word "cryptocurrency", it is defined as follows:

  • Informal, substitute currency (rarely).
  • Any of the various digital payment systems,functioning independently of the central authority and using cryptographic methods to control and verify transactions in a unique unit of account; (also) the accounting units of such a system, taken together.