Annually, philologists write and edit official dictionaries by adding revised and new entries to them. This year 850 new words and definitions were added to the world-famous dictionary at Merriam-Webster.com. Among them are cryptocurrency related terms such as Cryptocurrency, Blockchain, Bitcoin and Initial Coin Offering.

The Merriam-Webster company believes that “domain of digital financial exchanges opens a window into a subject that requires explanation for many of us”. Therefore the cryptocurrency terms were given detailed definitions with examples.

This is noteworthy that adding new words to the dictionary means they have received frequent enough usage as well as social significance.

Merriam-Webster Inc. is an America's leading publisher of reference books. Since 1964, the company has been a subsidiary of Encyclopedia Britannica, Inc. In 1996, it launched its own website to provide free access to the online dictionary.