We all know that everything has a digital representation, from the Universe to the Metaverse, Real Life to Virtual Reality, and Bank financial record books to a Blockchain ledger.
Just the way I explained in my last article about Web 3 communities with their own economy and cryptocurrency, which is the digital version of a country with its own infrastructure and a fiat currency powering it.
We have gold fully represented in the stock market, which is the digital version of the physical gold. The same goes for silver and bronze.
What is a commodity?
These are products that are being mined and discovered anywhere by anybody, can be traded for some other things, and their value is fully based on supply and demand.
What are crypto commodities?
These are Layer 1 blockchain native coins that had no ICO, no pre-mine, have an open ledger accessible to anybody, and had a fair launch with no central issuer, which makes them highly decentralized and accessible.
Since Bitcoin is one of the most widely recognized commodities, we can also trace down commodity-class cryptos to its forks like Namecoin, Litecoin, Vertcoin, and Dogecoin.
Looking at these four cryptocurrencies, they have similar characteristics and strongly share the same Proof-of-Work consensus mechanism, which are all available to mine.
Bitcoin has always been tagged as digital gold, while Litecoin has been called the silver to Bitcoin's gold.
If that's the case, no one has claimed the bronze title, haha, and since names can be given by anyone, I solely believe Vertcoin is 100% worthy to be called the Bronze to Bitcoin's gold.
A popular community member, Aslan, will always classify Vertcoin as Bitcoin 3.0 because the only thing that made Vertcoin exceptional is its ability to resist ASIC miners.
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