In the update published on the firm’s blog, OED notes that the word is the most recent addition to its dictionary, claiming the word was first used seven years ago. The announcement notes:
“A satoshi is the smallest monetary unit in the Bitcoin cryptocurrency, and is named after Satoshi Nakamoto, the—probably pseudonymous—developer(s) of Bitcoin.”
Crypto jargon in dictionaries
This is the latest addition of a word that is part of the crypto industry jargon to the reputable English-language vocabulary, but not the first. In 2013, OED added “Bitcoin” as a word, defining it as “a digital currency in which transactions can be performed without the need for a central bank.”
Furthermore, in 2014 the Oxford Dictionary Online, the world’s arbiter on what is and isn’t English, accepted cryptocurrency as a word.
Cryptocurrency is defined as “a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank.”
Additionally, Bitcoin has been named 2017 Term of the Year by investment encyclopedia-like online learning resource Investopedia.