human
I've been hearing a lot of buzz about cryptocurrencies. What are they and how do they work?
assistant
Cryptocurrencies are digital currencies that use cryptography for security, making them virtually impossible to counterfeit or double-spend. They are typically decentralized, meaning there is no central authority or banks involved in their creation or management. Transactions are verified by network consensus and recorded on a public ledger called the blockchain. Bitcoin was the first cryptocurrency to be created in 2009, and since then many others have followed suit.