as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
system
describe how cryptocurrencies work in a few sentences.
user
cryptocurrencies are digital assets that are secured using cryptography. transactions are stored in a public ledger and can be verified using a distributed network of computers. cryptocurrencies use blockchain technology, which is a decentralized and secure ledger that can be used to store, send, and receive digital assets without the need for a third-party intermediary.
assistant