Merriam-Webster adds 370 new crypto-related terms

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Merriam-Webster, one of America’s most trusted dictionaries, has included many crypto words in its latest edition. According to Merriam-Webster, an additional 270 words are used primarily in conversations about cryptos, NFTs, and the Metaverse.

Some of these terms included in the edition include “‘Altcoins'” and “”Metaverse”. Strictly speaking, these terms describe the technical and practical aspects of the emerging digital space, thereby creating recognition for its users.

A randomized controlled version defines a “metaverse” as “a continuous virtual environment that allows the access and interaction of multiple individual virtual realities.” This definition contrasts “physical space” with “the physical world and environment, especially the virtual world of cyberspace.”

Merriam-Webster defines altcoins as assets that are “considered alternatives to established cryptos, and in particular Bitcoin and Ethereum. This definition is likely to cause controversy, particularly from Bitcoin and Ethereum apologists, who have recently insisted that both assets should not be classified as altcoins.

The version defines a “use case” as “what the function or property can perform”. The findings also added terms such as “unbanked” and “underbanked”. As stated, these individuals cannot access financial services. “Shrinkflation” is another new term in recent publication that refers to a general reduction in output of a given price.

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Merriam-Webster to continue updating the vocabulary in future editions

According to America’s longest-running dictionary publishing company, it will continue to improve its dictionary with subsequent editions, believing that the dictionary must meet the evolving nature of language.

Merriam-Webster says, “New words and new uses for existing words are a constant in the living language, and our latest list brings together a wide range of new and potentially common words.”

This latest addition comes ten months after the dictionary’s publisher unveiled the previous edition with new words. Merriam-Webster added hundreds of words in October to meet trends caused by the coronavirus pandemic.

According to the company, “The fast and informal nature of messaging, texting and tweeting has contributed to a new vocabulary rich in efficiency and conciseness. Today, the company enjoys over fifty million monthly views.


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