What is a short introduction to cryptocurrencies and blockchain technology?
Could you please provide a succinct yet comprehensive introduction to cryptocurrencies and blockchain technology? In simple terms, how would you describe these two revolutionary concepts? What is the fundamental purpose and functioning of each? What sets them apart from traditional financial systems? How are they related to each other? Furthermore, could you highlight some of the key benefits and challenges associated with cryptocurrencies and blockchain? This overview would greatly assist those seeking a foundational understanding of these emerging technologies.