The Oxford English Dictionary adds the term Satoshi as the smallest Bitcoin monetary unit
by Alexander Romero 
The Oxford English Dictionary adds the term Satoshi as the smallest Bitcoin monetary unit.
With time, Bitcoin, cryptocurrency and blockchain make their place in everyday life and also in dictionaries.
Bitcoin, blockchain technology have created many new terms that must be explained to the general public but also to developers, economists, researchers etc… who will be interested in this new financial, cultural, economic and technological ecosystem.
See also our crypto dictionary with many terms and definitions about the world of Bitcoin and blockchain.
In its October 2019 update, the Oxford English Dictionary (OED) has therefore added the term Satoshi and gives this definition:
“A satoshi is the smallest monetary unit in the Bitcoin cryptocurrency, and is named after Satoshi Nakamoto, the—probably pseudonymous— developer(s) of Bitcoin.”
The Oxford English Dictionary is published by Oxford University Press, it traces the historical evolution of the English language and is a comprehensive resource for students, researchers and the general public.
This addition to the Oxford English Dictionary is important especially for the fact that the use of the word satoshi to name fractions of a Bitcoin BTC is official.
A Bitcoin is divisible into 100 million satoshi precisely, some people think sometimes that you can only buy a whole Bitcoin.
This dictionary formalizes the term satoshi to name this unit of measurement of a fraction of Bitcoin.
Satoshi which comes of course from the name of the creator of Bitcoin, Satoshi Nakamoto, at least his pseudonym because nobody knows who is Satoshi Nakamoto and if he is still alive.
So far, the term satoshi was used mainly in BTC Bitcoin trading and trading of altcoins that can be quoted in satoshi on the marketplaces.
For altcoins whose price is low, its price may be a few tens, hundreds of satoshi.
By formalizing the term satoshi to name a Bitcoin currency unit, the dictionary will help this term to find a place in society.
By consulting this dictionary, more and more people will learn about this term and will use it.
Bitcoin and cryptocurrency are becoming increasingly popular as a payment solution, therefore, more and more prices of items or services will see their price displayed in Bitcoin or Satoshi then.
Depending on the value of the item or service to be sold, with a Bitcoin BTC price going up, so many items and services will be quoted in Satoshi.
Adding the term satoshi into a dictionary is another step towards mass adoption of Bitcoin BTC and crypto currencies.
