Etymology
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peroxide (n.)

the oxide of a given base which contains the greatest quantity of oxygen, 1804, formed in English by chemist Thomas Thomson (1773-1852) from per- "large amount" + oxide. Peroxide blonde "woman with peroxided hair" is attested from 1918 (hydrogen peroxide is an effective bleaching agent for hair).

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Definitions of peroxide
1
peroxide (n.)
a viscous liquid with strong oxidizing properties; a powerful bleaching agent; also used (in aqueous solutions) as a mild disinfectant and (in strong concentrations) as an oxidant in rocket fuels;
Synonyms: hydrogen peroxide
peroxide (n.)
an inorganic compound containing the divalent ion -O-O-;
2
peroxide (v.)
bleach with peroxide;
She must peroxide her hair-it looks unnaturally blond
From wordnet.princeton.edu