Global Exchange- The Oxford English Dictionary (OED) announced the introduction of the word “Satoshi,” the smallest unit of Bitcoin (BTC) in its latest update. Bitcoin’s smallest unit ‘Satoshi’ makes its way to the dictionary.
According to the official definition by the OED, a ‘satoshi’ is:
“The smallest monetary unit in the Bitcoin digital payment system, equal to one hundred millionth of a bitcoin.”
Previously in 2014 update, the dictionary defined Bitcoin as “a digital currency in which transactions can be performed without the need for a central bank.”
“Satoshi is the smallest monetary unit in the Bitcoin cryptocurrency, and is named after Satoshi Nakamoto, the—probably pseudonymous—developer(s) of Bitcoin,” as per the OED update.
The OED also added the term “cryptocurrency” to its list in the latest quarterly update, describing it in two ways:
First, as “an informal, substitute currency. rare,” and second as “any of various digital payment systems operating independently of a central authority and employing cryptographic techniques to control and verify transactions in a unique unit of account; (also) the units of account of such a system, considered collectively.“
Oxford Dictionaries Online (ODO) also defines several words relevant to the crypto and blockchain industries, including “cryptocurrency,” “bitcoin,” “blockchain,” and “miner.”- Globalexchange
Investment encyclopedia-like online learning platform, Investopedia had dubbed Bitcoin as ‘Term of the Year’ in 2017.
According to the official definition by the OED, a ‘satoshi’ is:
“The smallest monetary unit in the Bitcoin digital payment system, equal to one hundred millionth of a bitcoin.”
Previously in 2014 update, the dictionary defined Bitcoin as “a digital currency in which transactions can be performed without the need for a central bank.”
“Satoshi is the smallest monetary unit in the Bitcoin cryptocurrency, and is named after Satoshi Nakamoto, the—probably pseudonymous—developer(s) of Bitcoin,” as per the OED update.
The OED also added the term “cryptocurrency” to its list in the latest quarterly update, describing it in two ways:
First, as “an informal, substitute currency. rare,” and second as “any of various digital payment systems operating independently of a central authority and employing cryptographic techniques to control and verify transactions in a unique unit of account; (also) the units of account of such a system, considered collectively.“
Oxford Dictionaries Online (ODO) also defines several words relevant to the crypto and blockchain industries, including “cryptocurrency,” “bitcoin,” “blockchain,” and “miner.”- Globalexchange
Investment encyclopedia-like online learning platform, Investopedia had dubbed Bitcoin as ‘Term of the Year’ in 2017.
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