Source : Webster's Revised Unabridged Dictionary (1913)

Dynamite \Dy"na*mite\, n. [Gr. ? power. See {Dynamic}.] (Chem.)
   An explosive substance consisting of nitroglycerin absorbed
   by some inert, porous solid, as infusorial earth, sawdust,
   etc. It is safer than nitroglycerin, being less liable to
   explosion from moderate shocks, or from spontaneous
   decomposition.

Source : WordNet®

dynamite
     n : an explosive containing nitrate sensitized with
         nitroglycerin absorbed on wood pulp

dynamite
     v : blow up with dynamite; "The rock was dynamited"