The word Satoshi in Oxford English Dictionary is nothing short of an event in the crypto realm. The crypto word ‘Satoshi’ is now an official English word in the Oxford English Dictionary (OED). Adding it to its official words database, the wordbook published under the Oxford University Press has once again shown how it keeps pace with the newest developments in the English language.
Satoshi word was added to after the September quarterly update. As per the official definition, “It is the smallest monetary unit in the Bitcoin digital payment system, equal to one hundred millionth of a bitcoin.”
The same dictionary also added ‘Bitcoin’ word to its lexicon in the year 2014 when it was highly popular. Bitcoin is defined as a digital currency allowing users to carry out transactions without requiring any central bank.
What is a Satoshi?
A ‘Satoshi’ is the smallest unit represented on the bitcoin blockchains. It reflects a decimal, seven zeros and, a one, which is then followed by any one bitcoin tickers including bitcoin cash (BCH), bitcoin (BTC), or a bitcoin SV (BSV). Mathematically, it is read as 0.00000001.
SAT is getting popular as its practical usage increases with respect to the growing number of blockchain applications. #SAT is also witnessing viral publicity in the Twitter world. Naturally, it was about time to add the word Satoshi in Oxford English Dictionary.
Satoshi in Oxford English Dictionary represents a milestone
Addition of Bitcoin in OED represents an essential milestone in the cryptocurrency’s life. Recently, it added a definition of ‘cryptocurrency’ as well wherein it was stated to be a ‘substitute, informal currency rare’. Its second definition termed it as myriad payment methods that operate without any primal authority and make use of cryptographic techniques for verification and control of transactions in a unique account unit.
Oxford Dictionary Online also has many definitions pertaining to words such as Bitcoin, crypto, and miner words. However, what makes OED entry a whole new game is that words cannot be deleted from the OED database ever. But words that are added to Oxford Dictionary Online’ can be edited or deleted. Moreover, ODO operates in the current context of the language, along with its real-world usage. On the other hand, OED represents how words and their meanings evolve. That means Satoshi in Oxford English Dictionary is here to stay forever.