Cartilaginous fishes first appeared in the fossil record 420 million years ago during the Devonian Period. They are characterized by having a cartilaginous skeleton with no bone, movable jaws with teeth, and lateral fins. There are nearly 1000 living species including sharks, rays, and skates. The largest species ever was Megalodon, an ancient shark that was over 50 meters long. Cartilaginous fishes have specialized systems like ampullae of Lorenzini that allow them to detect electric fields. They reproduce through internal fertilization.