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With the advent of blockchain came cryptocurrencies, which are digital or virtual currencies that use cryptography for security. Bitcoin, the first and most well-known cryptocurrency, was introduced in 2009 and has paved the way for many others, including Ethereum, Ripple (XRP), and countless altcoins.
Cryptocurrencies operate on decentralized platforms, which means they are not governed by any central authority. This aspect empowers individuals by allowing them access to funds without intermediaries. Additionally, cryptocurrencies can be transferred across borders swiftly and often without exorbitant fees associated with traditional banking.