The Merriam-Webster dictionary was supplemented with 850 new words, among which was the terms of cryptocurrency: cryptocurrency, blockchain, bitcoin, and Initial Coin Offering.
The term «cryptocurrency» refers to any form of assets that exists solely in digital form, with no single Issuer or regulator and uses a decentralized system for recording transaction and regulating the issue of new coins, which is based on cryptography to prevent fraudulent transactions and other fraud.
The meaning of the word «bitcoin» is defined as «digital virtual currency for peer-to-peer network transactions», the ICO is the primary offering of coins (tokens) and the blockchain as a digital database that can be used to simultaneously transmit within a decentralized public network. The same term denotes and technology, which is based on such a framework.
It should be noted that the Russian Association for electronic communications (RAEC) in the autumn of last year offered his own terminology dictionary consisting of 8 pages. Literally at the end of January 2018 in the Russian Federation appeared the bill as a legitimate means of payment cryptool. However, the Minister of communications and mass communications of the Russian Federation Nikolai Nikiforov has considered the use of this term is not quite correct and suggested to use the name «digital token».